The Board of Directors and the Management of Ashok Leyland are committed to the enhancement of shareholder value,
- Through sound business decisions, prudent financial management and high standards of ethics throughout the organization
- By ensuring transparency and professionalism in all decisions and transactions
- Achieving excellence in Corporate Governance by conforming to, and exceeding wherever possible, the prevalent mandatory guidelines on Corporate Governance and by regularly reviewing the Board processes and the Management systems for further improvement
The company has adopted a Code of Conduct for the members of the Board and senior management, who have all affirmed in writing their adherence to this Code.
Ombudsman
Another significant step has been the appointment of an Ombudsman to deal with any references, complaints or grievances about the Company, its employees or its dealings.
If the suppliers, employees or customers have any suggestions on governance issues or grievances or complaints on Ashok Leyland's practices - inclusive of its executives in various functions - which they feel ought to be raised with the Ombudsman and not with the usual channels of business, they may do so.
It is advised that the regular business dealings should be through the usual business functional channels. The Ombudsman will not deal with them under normal circumstances.
The Ombudsman is Mr. N. Mohanakrishnan, a former Executive Director of the Company, with an excellent understanding of Ashok Leyland as an organization and its functioning, having been with the company for nearly 30 years.
Address for communication if any complainant so desires
New no. 2/775,
Old no. 3/458A,
Ist street, Kazura Gardens,
Neelangarai,
Chennai - 600 041
Phone: +91 - 44 - 2449 0331
Mobile: +91 9841052612
E-mail : nmk@ashokleyland.com
Code of Conduct for Board members and the Senior Management
Members of the Board and the Senior Management, shall
a) Always act in the best interests of the Company and its stakeholders.
b)Adopt the highest standards of personal ethics, integrity, confidentiality and discipline in dealing with all matters relating to the Company.
c) Apply themselves diligently and objectively in discharging their responsibilities and contribute to the conduct of the business and the progress of the Company, and not be associated simultaneously with competing organisations either as a Director or in any managerial or advisory capacity, without the prior approval of the Board.
d) Always adhere and conform to the various statutory and mandatory regulations/guidelines applicable to the operations of the Company avoiding violations or non-conformities.
e) Not derive personal benefit or undue advantages (financial or otherwise) by virtue of their position or relationship with the Company, and for this purpose,
i) shall adopt total transparency in their dealings with the Company
ii) shall disclose full details of any direct or indirect personal interests in dealings/transactions with the Company
iii) shall not be party to transactions or decisions involving conflict between their personal interest and the Company’s interest
f) Conduct themselves and their activities outside the Company in such manner as not to adversely affect the image or reputation of the Company.
g) Inform the Company immediately if there is any personal development (relating to his/her business/professional activities) which could be incompatible with the level and stature of his position and responsibility with the Company.
h) Bring to the attention of the Board, Chairman or the Managing Director as appropriate, any information or development either within the Company (relating to its employees or other stakeholders) or external, which could impact the Company’s operations, and which in the normal course may not have come to the knowledge of the Board/Chairman or Managing Director.
i) Always abide by the above Code of Conduct, and shall be accountable to the Board for their actions/violations/defaults.
