The management's freedom should be exercised within a framework of checks and balances. Accordingly, the Company will conduct its affairs in a manner that ensures fairness to all stakeholders, both internal as well as external. To this end, the Company has formulated ethical standards and evolved processes and methodologies that prevent the misuse of power and facilitate fair and effective management.
The executive management of the Company is accountable to the Board of Directors, which in turn is accountable to shareholders and other stakeholders, including customers, employees, vendors, creditors, and to society and the general public at large. The Company also believes that high levels of accountability are ensured by vesting decision-making powers at appropriate levels of the organizational hierarchy. Hence, empowerment is an integral part of the Company's philosophy of corporate governance.
The management must be given the executive freedom to drive the Company forward, towards its goals, objectives and vision, without undue restraints.
This freedom of management must be exercised prudently within a framework of effective accountability.
The Company believes that transparency means that all the policies, decisions and actions are clearly explained to those to whom the Company is responsible, in particular, those who are affected by such policies, decisions and actions. Accordingly, such transparency is implemented through proper disclosures, at the same time ensuring that the Company's strategic interests are not jeopardized. In practice, this is achieved through strong MIS, robust internal controls, an active audit committee and strict adherence to procedures by the Board of Directors.
Company has evolved the following code of conduct for its Directors and Senior Management.Click here to download.
For Jindal SAW Ltd., all stakeholders are of critical importance and Company reaches out to all stakeholders to make appropriate disclosures at regular intervals and take all necessary steps for an expeditious remedy of any of their grievances. The Company has Stakeholders Relationship Committee to specifically look into any complaint of shareholders/ investors and deals with all issues relating to investors grievance, including transfer of shares, non-receipt of dividends, issue of duplicate shares etc. The Company also has a special cell for investors who have fixed deposits with Company to address all their queries and attend to all their grievances.