Corporate Governance Report - Jagat Trading Enterprises Limited, New Delhi

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Jagat Trading Enterprises Limited
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Corporate Governance Report

Jagat Trading Enterprises Limited was incorporated as Public Limited Company under the Companies Act, 1956 on 29th September 1982 in the state of Delhi. The Company is engaged in the Business of Finance and Investments & is a Non-Banking Finance Company (NBFC) registered with Reserve Bank of India.

This Code of Conduct ('Code') for the Board Members and Senior Management ensures compliance with legal requirements and helps to maintain the standards of business conduct. The purpose of the Code is to deter wrongdoing and promote ethical conduct.

All Directors and Senior Management must act within the purview of the authority conferred upon them and with a duty to make and enact informed decisions and policies in the best interests of the Company and its shareholders /stakeholders. The Company appoints the Company Secretary as a compliance officer, who will be available to directors and senior management to answer questions and to held them comply with the Code. The following code of conduct helps the Board Members and Senior Management to maintain the high standards that the Company requires.

1. Honesty and Integrity

All directors and senior management shall conduct their activities in accordance with the highest standards of personal and professional integrity, honesty and fairness. All directors and senior management will act in good faith, responsibly, competence and diligence, which are free from fraud and deception, in the best interests of the Company without indulging their personal interest.

2. Conflicts of Interest

All Directors and Senior Management of the Company shall not engage in any business, relationship or activity, which might detrimentally conflict with the interest of the Company. Their duty to the Company demands that they avoid and discloses actual and apparent conflicts of interest.

Conflict can arise in many situations and it is not possible to define the every possible conflict situation. Set forth, are some of the circumstances that may lead to a conflict of interest, actual or potential:

  • Directors and senior management should not engage in any business or activity that conflicts or prejudicial to the interest of the Company and which creates conflict in discharging their respective duty towards the Company.

  • If any director or senior management officer is considering investing in customer, supplier, developer or competitor of the Company, he or she must first take care to ensure that these investments do not compromise on their responsibilities to the Company.

  • Directors and senior management should avoid conducting Company business with a relative, or with a firm/or company in which a relative is associated in any significant role. If such related party transaction is unavoidable, it must be fully disclosed to the Board or to the Managing Director of the Company.

3. Compliance

Directors and senior management must comply with all applicable laws, rules, regulations and regulatory orders, both in letter and spirit. In order to assist the Company in promoting lawful and ethical behaviour, directors and senior management must report any possible violation of law, rules, regulation or the code of conduct to the Company Secretary.

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