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WHISTLE BLOWER POLICY

 

 

 

 

 

 

 

 

 

VEDANT ASSET LIMITED

CIN: U74900JH2015PLC003020

Registered Office: 3rd Floor, Gayways House Pee Pee Compound Ranchi Jharkhand 834001, India

Telephone No.: +91- 9304955502 ; E-mail: cs@vedantasset.com

Website: www.vedantasset.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WHISTLE BLOWER POLICY

 

  1. PREFACE

 

  • The Company believes in the conduct of the affairs of its constituents in a fair and transparent manner byadopting highest standards of professionalism, honesty, integrity and ethical 

 

  • Towards this end, the Company has adopted the Vedant Asset LimitedCode of Business Conduct and Ethics called “Code of Conduct”, which lays down the principles and standards that should govern the actions of the Company and its employees. Any actual or potential violation of the Code, howsoever insignificant or perceived as such, would be a matter of serious concern for the Company.

 

  • Accordingly, this Whistle Blower Policy (“the Policy”) has been formulated with a view to provide a mechanism for employees of the Company to approach the Audit Committee of the Company and protected disclosure to the management instances of unethical behavior, actual or suspected fraud or violation of the Code of

 

  • The Policy provides a framework to promote responsible and secure whistle blowing. It protects the WhistleBlower wishing to raise a concern about serious irregularities within the 

 

  • The Policy neither releases Whistle Blowers from their duty of confidentiality in the course of their work,nor is it to be misused to surface a grievance about a personnel work-related 

 

2. APPLICABILITY

 

  • ThisPolicy is applicable to all Directors, Employees and other persons dealing with the 

 

  • TheProtected Disclosure may be areas of concern in respect of the Company covered by this Policy and summarized in paragraph 

 

3. DEFINITIONS

 

  • “DisciplinaryAction” means any action that can be taken on the completion of / during the investigation proceedings, including but not limited to, a warning, recovery of financial losses incurred by the Company, suspension/ dismissal from the services of the Company or any such action as is deemed to be fit considering the gravity of the 
  • “Employee” means every employee of the Company including the Directors in the whole time employment of the Company.
  • “Protected Disclosure” means a concern raised by a written communication made in good faith that discloses or demonstrates information that may evidence unethical or improper activity (as described more particularly in Clause 5) with respect to the Company. Protected Disclosures should be factual and not speculative or in the nature of an interpretations/conclusion, and should contain as much specific information as possible to allow for proper assessment of the nature and extent of the concern and the urgency of a preliminary investigative procedure.
  • “Subject” means a person against or in relation to whom a Protected Disclosure is made or evidence gathered during the course of an investigation.
  • “Whistle Blower” means an Employee who makes a Protected Disclosure under this Policy.

 

4. THE GUIDING PRINCIPLES

 

  • TheCompany, as a policy, condemns any kind of discrimination, harassment, victimization or any other unfair employment practice being adopted against Whistle  The Company will:
  • Ensure that the Whistle Blower and/or the person processing the Protected Disclosure is/are not victimized for doingso;
  • Treat victimization of Whistle Blower as a serious matter including initiating Disciplinary Action against person(s) causing or allowing victimization of WhistleBlower;
  • Ensurecomplete confidentiality of identity of Whistle Blower;
  • Notattempt to conceal evidence of the Protected Disclosure;
  • Take Disciplinary Action for event covered under this Policy (as mentioned in Clause 5) or upon victimizing Whistle Blower or any person processing the Protected Disclosure or if any one destroysor conceals evidence of the Protected Disclosure made/to be made;
  • Providean opportunity of being heard to the persons involved especially to the 

 

5. COVERAGE OF POLICY

 

  • ThePolicy covers malpractices and events which have taken place/ suspected to take place involving:
  • An abuse ofauthority;
  • Breach of employmentcontract;
  • Manipulation of companydata/records;
  • Financial or compliance irregularities, including fraud, or suspectedfraud;
  • Criminal offence having repercussions on the company or itsreputation;
  • Pilferation of confidential/proprietaryinformation;
  • Deliberate violation oflaw/regulation;
  • Misappropriation or misuse of Companyfunds/assets;
  • Breach of Code ofConduct;
  • An act of discrimination or sexualharassment;
  • Any other unethical, imprudentdeed/behaviour

 

The above list is only illustrative and should not be considered as exhaustive.

 

  • Policyshould not be used as a route for raising malicious or unfounded allegations against 

 

6. PROTECTION

 

  • No unfair treatment will be meted out to a Whistle Blower by virtue of his/ her having reported a Protected Disclosure under this Policy. The Audit Committee would be authorised to take steps to minimize difficulties, which the Whistle Blower may experience as a result of making the Protected Disclosure.
  • The identity of the Whistle Blower shall be kept confidential and shall be disclosed only on need to know

 

  • Any other Employee assisting in the said investigation or furnishing evidence shall also be protected to the same extent as the Whistle

 

  • Protectionto Whistle Blower under this Policy shall be available provided that Protected Disclosure is:
  • made in goodfaith;
  • theWhistle Blower has reasonable information or documents in support thereof; and
  • not for personal gain or animosity against the
  • WhistleBlowers, who make any Protected Disclosures, which have been subsequently found to be mala fide, frivolous or malicious shall be liable to Disciplinary Action as may decided by the Audit Committee under this 

 

  • Protection under this Policy would not mean protection from disciplinary action arising out of false or bogus allegations made by a Whistle Blower knowing it to be false or bogus or with a mala fide

 

  • In respect of such Whistle Blowers, the Audit Committee would reserve its right to take/recommend appropriate disciplinary

 

7. PROTECTED DISCLOSURE

 

  • All Protected Disclosures should be addressed to Company Secretary & Compliance Officer. The contact details are as under:

 

 

Company Secretary and Compliance Officer

 

Vedant Asset Limited

3rd Floor, Gayways House Pee Pee Compound

      Ranchi Jharkhand 834001, India

Tel: +91-9304955502

E-mail: cs@vedantasset.com

 

  • Protected Disclosures should be reported in writing so as to ensure a clear understanding of the issues raised and should either be typed or written in a legible

 

  • The Protected Disclosure should be forwarded under a covering letter which shall bear the identity of the Whistle Blower. Anonymous disclosures may not be

 

8. INVESTIGATION

 

  • On receipt of Protected Disclosure, the Audit Committee shall appropriately and expeditiously investigate all whistle blower reports received. In this regard, the Audit Committee may perform all such acts as it may deem fit at its sole discretion. The investigation shall be completed normally within 30 days of the receipt of the Protected

 

  • The Audit Committee shall have right to outline a detailed procedure for an investigation and may delegatesuch powers and authorities, as it may deem fit to any officer of the Company for carrying out any 

 

  • The identity of a Subject will be kept confidential to the extent possible given the legitimate needs of law and the

 

  • Subjects will normally be informed of the allegations at the outset of a formal investigation and have opportunities for providing their inputs during the

 

  • The Subject shall have a duty to co-operate with the investigator and responsibility not to interfere or obstruct with the investigation process. Evidence shall not be withheld, destroyed or tampered with, and witnesses shall not be influenced, coached, threatened or intimidated by the Subject. The Subject, iffound indulging in any such actions then that will make the Subject liable for disciplinary 

 

  • A report shall be prepared after completion of investigation by the Officer(s) investigating the matter which shall be submitted to the Audit Committee. Upon receipt of report, the Audit Committee shall submit the same along with recommendations to the Chairman for Disciplinary Action after providing reasonable opportunity of being heard to the Subject. No allegation of wrongdoing against a Subject shallbe considered as maintainable unless there is good evidence in support of the 

 

  • After considering the report and recommendations as aforesaid, the Chairman shall determine and finalise the Disciplinary Action as he may deem

 

  • In case the subject is the Audit Committee Chairman, then the protected disclosure is sent to the Chairmanof the Board of Directors who will take necessary steps for the 

 

9. SECRECY/CONFIDENTIALITY

 

The Whistle Blower, the Subject, the Senior Officer(s) and everyone involved in the process shall:

 

  • maintain complete confidentiality/ secrecy of the matter under thisPolicy;
  • notdiscuss the matters under this Policy in any informal/social gatherings/ meetings;
  • discuss only to the extent or with the persons required for the purpose of completing the process and investigations as directed by AuditCommittee;
  • not keep the papers unattended anywhere at anytime;
  • keep the electronic mails/files underpassword

 

If anyone is found not complying with the above, he/ she shall be held liable for such Disciplinary Action as is considered fit by the Audit Committee as the case may be.

 

10. RETENTION OF DOCUMENTS AND AMENDMENT

 

All Protected Disclosures, documented along with the results of Investigation relating thereto, shall be retained by the Company Secretary for a minimum period of 5 (five) years or as mentioned in applicable law, if any. 

 

 

11. EFFECTIVE DATE

 

This Policy is effective from the date of approval of the same by the Board of Directors of the Company.

 

12. POLICY REVIEW

 

The Board may subject to the applicable laws amend any provision(s) or substitute any of the provision(s) with the new provision(s) or replace the Policy entirely with a new Policy.

 

13. DISCLOSURES

 

The Company shall disclose the Policy on its website