Best Practices Make Perfect
Code of Conduct
Sagarsoft, committed to being a good and model corporate citizen, conducts its businesses as per the applicable laws, rules, regulations, and statutory guidelines, as in force, and adhering to the highest standards of business ethics.
Addressing Conflicts of Interest
- It is difficult to exercise an independent judgment of the company’s interest;
- A Director or a member of the Senior Management Team accepts any personal benefits or gifts or entertainment beyond the customary level either by himself or through his family as a result of his position in the company from any person/company with which the company may have business dealings;
- A Director or a member of the Senior Management Team engage in any other business activity that detracts his ability to devote appropriate time and attention to his responsibilities to the company;
- There exists a significant ownership interest with any supplier, customer or competitor of the company; and/or
- There is an employment relationship between a Director or a member of the Senior Management Team with any supplier, customer, business associate or competitor of the company.
While it is expected of a member of the Board and the Senior Management Team to generally avoid the situations where the ‘conflicts of interest’ may be deemed to exist, in case of unavoidable conflict of interest, he should disclose all facts and circumstances thereof to the Board of Directors or any officer nominated for this purpose by the Board and a prior written approval should be obtained.
As the professional and ethical conduct in the matter of financial affairs is essential for the proper functioning of the company, the officers and employees engaged in finance-related functions should act with honesty and integrity. The personnel in-charge of finance and accounting functions should prepare and maintain the company’s accounts fairly and accurately in accordance with generally accepted guidelines, principles, standards, and laws and regulations applicable to the company.
Internal accounting and audit procedures shall fairly and accurately reflect all of the company’s business transactions and disposition of assets. There shall be no willful omissions of the company transactions from the books and records. Any willful material misrepresentation or misinformation in the financial accounts and reports shall be regarded as a violation of this code.
The assets of the company should not be misused but must be utilized only for the purpose of conducting the business for which they are authorized. All Directors and members of the Senior Management Team should strive to protect the company’s assets and property and ensure its efficient usage. The same also applies to all Digital properties and assets of the company.
Directors and the Senior Management Team owe a duty to the company to promote its legitimate interests when the opportunity to do so arises. They should not use the company’s property, information or position for personal gains. All Directors and Senior Management Team members of the company must strive to perform their best at all times.
The Directors and the Senior Management Team shall act in accordance with the highest standards of personal and professional integrity, honesty, and ethical conduct. They shall act and conduct themselves in a manner that is free from fraud and deception. Their conduct shall conform to the professional standards of conduct.
Each Director and member of the Senior Management Team should deal fairly with customers, suppliers, and competitors. He or she should not take unfair advantage of anyone through manipulation, concealment, abuse of confidential, proprietary or trade secrets, information, misrepresentation of material facts, or any other unfair practices.
Sagarsoft shall strive to provide a safe and healthy working environment and comply with all regulations regarding the preservation of the environment in and around its manufacturing and servicing facilities and other points of operations. The company is committed to the cause of efficient use of natural resources and to minimize any hazardous impact on the environment due to the development, production, usage or disposal of any of its products and services.
The Directors and the Senior Management Team shall maintain utmost confidentiality of information of the company or of any customer, supplier or business associate of the company to whom the company is bound to maintain confidentiality, except when disclosure is authorized. The use of confidential information for his own advantage or profit is also prohibited.
Sagarsoft shall strive to provide a safe and healthy working with The Directors and the Senior Management Team shall comply with all applicable laws, rules and regulations. Transactions relating to sale or purchase of the company’s equity shares should not be undertaken without complying with the formalities contained in the company’s code of internal procedures and conduct for prevention of insider trading. If any Director or Member of the Senior Management Team who knows of or suspects of any violation of applicable laws, rules or regulations of this Code of Conduct, he or she must immediately report the same to the Board of Directors or any designated person thereof. Such a person should, as far as possible, provide the details of suspected violations with all known particulars relating to the issue. The company recognizes that resolving such problems or concerns will advance the overall interests of the company that will help to safeguard the company’s assets, financial integrity, and good reputation. All Directors and Senior Management Team should adhere to the Code of Conduct and Code of Ethics of the company. Violations of either will result in disciplinary action, which may even include the termination of services of an employee. The Board of Directors or any person designated by the Board for this purpose shall determine appropriate action in response to violations of this Code.