UTTAR PRADESH DEVELOPMENT CORPORATION LIMITED,
CODE OF CONDUCT
The Board of Directors (the "Board") and the senior
management of Uttar Pradesh Development Corporation Ltd. (Updesco)
undertake to abide by following Code of Conduct adopted by the
Board and affirm compliance with this code on an Annual Basis by acknowledging
the same as provided in the end.
The Code is named as "Code of conduct"
for the Board of Directors and Senior Management.
APPLICABILITY
The code
is applicable to all the members of the Board of Directors and Senior management of the company. Senior Management shall
mean personnel of the company who are members of its core management excluding
Board of Directors.
THE CODE
Conflict of Interest :
The
Directors and Senior Management should be scrupulous in avoiding 'conflicts of
interest' with the company. In case there is likely to be conflict of interest,
in case of a senior management personnel, he/she
should make full discloser of all facts and circumstances thereof to Managing
Director and a prior written approval should be obtained. In case there is
likely to be a conflict of interest in the case of Managing Director, he should
make full discloser of all facts and circumstances to the Chairman of the
Board. The Chairman and any Director of the board in like circumstances should
make full discloser to the Board.
Conduct :
The
Directors and Senior Management shall act in accordance with the highest
standards of personal and professional integrity, honesty and ethical conduct
and use their powers of office, in good faith and in the best interest of the
Corporation as whole.
Confidentiality
:
The
Directors and Senior Management shall maintain the confidentiality of
confidential information of the Corporation or that of any customer, supplier
or business associates of the Corporation to which Corporation has a duty to
maintain confidentiality, except when discloser is authorised
or legally mandated. The information
includes all non-public information that might be of use to competitors or
disclosure of which might be harmful to Corporation or its business associates.
The use of confidential information for his/her own advantage or profit is also
prohibited.
Protection and Proper Use
of Corporation's Assets :
The
Directors and Senior Management should protect Corporation's assets and
property. Company's assets should be used only for legitimate business
purposes.
The
Directors and Senior Management shall endeavor to ensure compliance with all
applicable laws, rules and regulations applicable to the Corporation.