Code of Governance

Corporate Governance philosophy of the Company is founded upon transparency, accountability, values and ethics and is an integral part of the management in its pursuit for excellence, growth and value creation. The Company is committed to adopt highest standards of Corporate Governance and disclosure practices to ensure that its affairs are managed in the interst of all stakeholders. The comprehensive written code of conduct called Tata code of conduct" which has been adopted by the Tata group including the Company serves as a guide on the standards of vlues, ethics and business principles to be followed by the Company in running its affairs. The Company has adopted the Tata Code of Conduct for prevention of insider trading and code of corporate disclosure practices in pursuance of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations. The Company has also adopted the Tata Business Excellence Model, which success on excellence in whatever the Company does, while upholding high levels of values and business ethics. The Company is in total compliance with clause 49 of the listing agreement with the stock exchanges.