| OUR VALUES |
| Since inception, the principles of Integrity, Responsibility, Trust and Cooperative Effort have been the guiding force and core values of Lake Cement. We believe that integrity means honest and accurate reporting of the performance, both internally and externally. It creates an environment that is conducive to proper business conduct. We believe that we are the trustees of the trust reposed on us by our stakeholders. Hence protecting their interest is our responsibility, making it the core of all our policies and management decisions. At Lake Cement, we also recognise the fact that our society and surrounding communities are an important stakeholder in this enterprise and therefore, our trusteeship also makes us responsible to practice good corporate citizenship. |
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| AVOIDING CONFLICT OF INTEREST |
| The Company expects that its Directors and Senior Management team members should be scrupulous in avoiding any situation of conflict of interest with the Company. This is an area in which it is impossible to provide a comprehensive code but the guiding principle, at Lake Cement is that any conflict or a potential conflict must be discussed with the top management for guidance and appropriate action. |
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MAINTENANCE OF
CONFIDENTIALITY |
| Lake Cement strongly emphasises that its Directors, Senior Management team members and other employees shall maintain strict confidentiality with respect to its confidential information or that of any customer, supplier or any other business associate of the Company to which the Company has a duty to maintain confidentiality, except when such disclosure is legally mandated or is authorised. Similarly, the use of any confidential information for one's own advantage / profit is strictly prohibited. |
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| USAGE OF ELECTRONIC RESOURCES |
| Usage of electronic resources is an integral part of our business. The Company expects that electronic resources would be used for business purposes of the Company only and would be used in ethical, effective and lawful manner. |
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| WAIVERS |
| Any waiver of the provision/s of this Code for any Director or Senior Management team member must be placed before the Directors of the Company for appropriate guidance. |
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| APPLICABILITY |
| This Code applies to all the members of the Board of Directors and also to the Senior Management team consisting of all the Unit / Departmental Chief and Corporate Level Head of Departments. |
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| TRANSPARENCY AND AUDITABILITY |
| At Lake Cement, it is strongly believed that all actions in conduct of business should be transparent except where the needs of business secrecy require it to be otherwise. Such transparency would be continuously developed through appropriate system mechanism, involving more than one manager in key decision making and maintenance of supporting records. Similarly, it is expected that each employee should ensure that the operational areas are open to audit systems and procedures and the conduct of all activities are auditable. |
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PROTECTION AND PROPER USE
OF THE COMPANY ASSETS |
| At Lake Cement, we expect that any one using the Company's asset/s must ensure its proper usage and ensure the protection of these assets. Theft, carelessness and wastages of the Company's assets and property would have a direct bearing on Company's profitability. Thus, the assets should be used only for legitimate business of the Company. |
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| MODIFICATIONS / AMENDMENTS |
| The Board of Directors of the Company is empowered to make necessary modifications and / or amendments, from time to time, in this Code. |
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| GOOD CORPORATE CITIZENSHIP |
| In business dealings for the Company's business each member is expected to be a good corporate citizen and embrace the following; |
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RELATIONSHIP WITH SUPPLIERS /
CUSTOMERS / OTHERS |
| The Company expects that all the Directors, Senior Management team members and its other employees, shall ensure that in their dealings with suppliers, customers and others, the Company's interests are always treated as paramount and no compromises are made. Accepting gifts / presents in any form, from suppliers, customers etc., will be viewed as a serious breach of the Code since the Company believes that such an action may lead one to compromise the interest of the Company. |
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| LEGAL COMPLIANCE |
| At Lake Cement, it is a policy to fully comply with all applicable laws, and regulations. Thus, the Company would not accept practice/s which are unlawful or which may damage its reputation. Dealing with people in the organisation and in dealing with each other, the Company expects that the basic values of trust, teamwork, mutuality, objectivity, self respect and human dignity to be honoured and adhered to.
In fact, these values form the basis of HR Management System of the Company. |
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| A GENDER FRIENDLY WORK PLACE |
| The Company is committed to a gender friendly workplace. Besides instituting good employment practices, it also endeavours to enhance equal opportunities for men and women, and prevent / stop / redress cases of sexual harassment if any, at the workplace. The Company also seeks to demonstrate and promote, professional behaviour and respectful treatment at workplace. |
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| HEALTH AND SAFETY |
At Lake Cement, great importance is attached to a healthy and safe work environment. It seeks to ensure good physical working conditions, high standard of hygiene and housekeeping. With a view to develop
and increase safety awareness, due attention would be paid to the training of employees. |
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