Scribd
Upload
10 views12 pages

Whistle Blower Policy

The Whistle Blower Policy outlines the obligations of listed companies to establish a mechanism for reporting unethical behavior and improper activities, as mandated by the Companies Act and SEBI regulations. It aims to foster a culture of transparency, protect whistle blowers from victimization, and ensure confidentiality in reporting. The policy details the definitions of improper activities, the role of whistle blowers, the procedure for reporting, and the investigation process, while also emphasizing the protection of the whistle blower's identity.

Uploaded by

divyagaur2308
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
10 views12 pages

Whistle Blower Policy

The Whistle Blower Policy outlines the obligations of listed companies to establish a mechanism for reporting unethical behavior and improper activities, as mandated by the Companies Act and SEBI regulations. It aims to foster a culture of transparency, protect whistle blowers from victimization, and ensure confidentiality in reporting. The policy details the definitions of improper activities, the role of whistle blowers, the procedure for reporting, and the investigation process, while also emphasizing the protection of the whistle blower's identity.

Uploaded by

divyagaur2308
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 12

Whistle Blower Policy

CIL
Obligation
• Under Section 177 of the Companies Act, 2013 every listed Company
is required to have a vigil mechanism.
• Regulation 22 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (“Listing Regulations”) makes it a
mandatory requirement for all listed companies to establish a
mechanism for directors and employees to report genuine concerns
of unethical behaviour, actual or suspected, fraud or violation of the
Company’s code of conduct or ethics policy.
• Adequate safeguards against victimization of director(s) or
employee(s) or any other person who avail the mechanism
Objectives
• To build and strengthen a culture of transparency and trust in the
organization
• to provide employees with a framework / procedure for responsible
and secure reporting of improper activities (whistle blowing)
• to protect employees wishing to raise a concern about improper
activity / serious irregularities within the Company.
• It does not absolve employees from their duty of confidentiality in the
course of their work.
• It is not a route for taking up personal grievances
Key Definitions
• Employee includes Functional Directors
• Improper Activities:
✓in violation of any law or the rules of conduct applicable to the
employee
✓abuse of authority, breach of contract, manipulation of company
data,
✓pilferage of confidential / proprietary information,
✓ criminal offence, corruption, bribery, theft, conversion or misuse of
the Company’s property,
✓fraudulent claim, fraud or willful omission to perform the duty,
✓ incompetence or gross inefficiency and
✓sexual harassment of women in work place
✓leakage of UPSI
✓any other unethical biased favoured or imprudent act
• Activities which have no nexus to the working of the Company and
are purely of personal nature are specifically excluded from the
definition of Improper Activity.
• Subject matter of an inquiry or order under the Public Servants’
Inquiries Act, 1850 or under the Commissions of Inquiry Act, 1952 will
not come under the purview of this policy.
• “Protected Disclosure” means any communication made in good faith
that discloses or demonstrates information that may evidence
unethical or “Improper Activity”.
• “Whistle Blower” means an Employee making a Protected Disclosure
under this policy.
• “Service Rules” means the Conduct, Discipline and Appeal rules and
the applicable Standing Orders, as the case may be.
Guiding Principles
• Protected disclosures are acted upon in a time bound manner
• Complete confidentiality of the Whistle Blower is maintained
• The Whistle Blowers are not subjected to victimization.
• Evidence of the Protected Disclosure is not concealed
• opportunity of being heard to the subject
Role of Whistle Blower
• reporting reliable information.
• not required or expected to conduct any investigations on his own.
• does not have any right to participate in investigations
• have a right to be informed of the disposition of his disclosure
• have the right to access the Chairman of the Audit Committee directly
in exceptional cases
• will be liable for disciplinary action in the event of finding malafide,
baseless etc.
• will be disqualified from reporting further Protected Disclosure if 3
times found malfide
Procedure
• In a closed / secured / sealed envelope addressed to the Competent
Authority
• Should be super scribed “Protected Disclosure”
• Can send directly to the Chairman, Audit Committee of the Board of
Directors, if there is conflict of interest between the competent
authority and the whistle blower
• Anonymous or pseudonymous protected disclosure shall not be
entertained.
• should either be typed or written in legible hand writing in English,
Hindi or Regional language of the place of employment.
• should be factual and not speculative or in the nature of a conclusion
• should contain as much specific information as possible
Investigation
• With in 45 days of the date of receipt of the protected disclosure
• The investigation is a neutral fact-finding process.
• Subjects to be informed about the allegation
• Subject is given opportunity to give input during investigation.
Protection
• identity of the Whistle Blower shall be kept confidential.
• No unfair treatment will be meted out to a Whistle Blower
• If the Whistle Blower is required to give evidence in criminal or
disciplinary proceedings, arrangements will be made for the Whistle
Blower to receive advice about the procedure
• Any other Employee assisting in the said investigation shall also be
protected to the same extent as the Whistle Blower
• The Competent Authority shall submit a quarterly report of the
protected disclosures, received and of the investigation conducted,
and of the action taken report shall be submitted to the Audit
Committee of the Board of Directors of the Company.
• The Audit Committee shall have power to review any action or
decision taken by the Competent Authority.

You might also like