Eastern Silk Industries Limited (ESIL) is committed to follow the ethical and lawful business conduct, as a shared value of business practice. Consistent with this principle, The Board members of ESIL has adopted this Code of Conduct (COC) as a guide to the ethical and legal standards expected from its Board members.
The Code of Conduct (COC) has been laid down as values and commitments of Board Members of ESIL. (The Company) to practice good Corporate Governance in transparent and accountable manner. This COC is set of duties, obligations and responsibilities of the Board Members of the Company to act in a manner upholding the standards of Business Conducts and play vital role in governance for creating greater values for stakeholders and social responsiveness. In every situation all the Board Members are expected to use their discretion on a course of action which would enhance the Company's image as a respected and responsible organisation.
This COC shall not be construed in any circumstances to constitute a Contract with the Company.
The Board Members shall ensure to conduct business with due appreciation and understanding of modern and current trend and practice. They shall manage the affairs of the Company with responsibility accounting, transparency, trust, integrity, objectivity without fear, favoritism and conflict of interest. The Board members shall use their knowledge, skill and competence in a fair and impartial manner with pragmatic approach in decision making process.
The Board Members shall ensure to conduct business on philosophy of core values, laid down policies, appreciable practices and definite objectives. It means values for money, quality work, designing growth in a manner that ensures stakeholders aspirations and social expectations and recognising Human Resources as a valuable asset.
The Board Members shall maintain highest standards of personal integrity, truthfulness, and fortitude in discharge of their duties in order to inspire shareholders' confidence. The Board members shall not be engaged in any act involving moral turpitude, dishonesty, fraud, deceit or misrepresentation or any other act prejudicial to the interest of the Company.
The Board Members shall ensure authenticity of Financial Statements and Accounting, Compliance of Statutory Procedures of Accounting standards, Publication of Financial documents. The Board Members shall create conducive working environment in developing a sense of belonging, to increase self potentiality, gender respect and gender friendly work place. The Board Members shall set policies and systems and procedures for preparation of annual Revenue Budget, Capital Budget, Investment Plan with periodical review and monitoring the performance; full accountability, disclosures, internal control, strengthening governance structure and evaluating key managerial functions based on value addition and cost reduction.
In performing the Board and the Board Committee function, the Board Members shall:
The Board Members shall always endeavour to perform its operation in clean and efficient manner by taking into consideration all environmental regulations and aspects and shall ensure to follow the environmental guidelines in letter and spirit.
The Board Members shall not unless otherwise required by law, maintain confidentiality and shall not divulge/disclose any Company's confidential and strategic information, research works, intellectual property and business plans which comes to their access by virtue of their position or obtained in the discharge of their duties and that no such information be used for personal gains or to be used against the interest of the Company.
The Board Members shall ensure preservation of Price Sensitive Information maintaining full confidentiality and prevention of inside trading complying with regulation of monitoring of price sensitive information.