Code of conduct for Board and Senior Management







The Code of Conduct of Prolife Industries Limited was approved by the Board of Directors (Board)  of the Company on 07th September, 2016 and  came into effect from that  date.  The said Code of Conduct based on fundamental principle of good Corporate Governance. The said Code of Business Conduct and Ethics is now adopted inter alia to include duties of independent directors as per Schedule IV of the Companies Act, 2013.


It  has  been  long  waited policy  and  commitment of  Prolife Industries Limited to  adhere to  highest standards  of  integrity  professional and   financial and business ethics  in the  operation of its business. We believe  that  this  organization has been  handed to  us  by  the  various  stakeholders  in  "trust” and   we  as  professional managers are  the  "trustees" of those  stakeholders. It is therefore our  responsibility to ensure that  the  organization is  managed in  a  manner that  protects and  furthers the interests of  our  stakeholders. This  Code  of  Business  Conduct and  Ethics  (“Code   of Conduct”  or  “Code”) helps   to  ensure  compliance  with   our   standards of  business conduct & ethics and also with  regulatory requirements.


The Code of Conduct shall apply to:

  1. All Directors  of  the   Company,  whether  executive  or   non-executive  including nominee directors.
  2. All Senior Management Executives.

Senior Management Executives shall include:

  1. All executives of the Company from the rank of General Manager and above; and
  2. All employees of the Company, reporting direct to the Managing Director/Manager/Executive Director(s) irrespective of their gr

All Directors and  Senior Management Executives are expected to comply with  the letter and  spirit  of this  Code.  The  Senior  Management  Executives shall  continue to  comply with  applicable laws  & regulations and  the  relevant policies,  rules  and  procedures of the Company.

The Code comes into immediate effect.


In  this  Code  the  term  “Relative” shall  have  the  same  meaning as  defined in  Section 2(77) of the Companies Act, 2013. In this  Code,  words importing the  masculine shall include feminine and  words importing singular shall  include the  plural or vice versa. Any question or interpretation under this Code of Business Conduct and Ethics will be   considered and  dealt  with  by the Board or any person authorized by the Board on their behalf.


All  Directors and   Senior  Management  Executives shall  act  in  accordance  with   the highest standards of integrity, honesty, fairness and  ethical  conduct while  working for the Company as well when  representing the Company. Honest conduct means  conduct that  is free  from  fraud, suppression of facts  or  deception. Integrity & ethical  conduct includes ethical  handling of actual  or  apparent conflicts  of interest between personal and professional relationships. All Directors and Senior Management Executives should promote ethical  behavior and  take  steps  to ensure that  the  Company promotes ethical behavior and   also  encourages  employees to  freely  report  violations of  laws,  rules, regulations or the Company's Code of Conduct to the Managing Director/Manager/Compliance Officer.


All Directors and  Senior  Management Executives shall  avoid  situations in which  their personal interest could  conflict with  that of the Company. A “conflict  of interest” occurs when   an  individual’s private  interest directly or  indirectly  interferes or  appears to interfere with  the  interests of the  Company. The  Directors and   Senior  Management Executives must   act  at  all  times  in  the  Company’s best  interests and  avoid  putting themselves in a position where their personal interests conflict or appear to conflict with the  interests  of  the  Company.  Their  personal  interests  will  include  those   of  their relatives.

Any Director or Senior Management Executive,  who  is aware of a conflict of interest or is concerned that  a conflict  might  develop, is required to disclose  the matter promptly to the Board  in case of a Director and  to the Managing Director/Manager/Compliance Officer in case of a Senior Management Executive.


Any  Director  or  Senior  Management  Executive   or  any  of  their   relatives/associates should not derive any undue personal benefit  or advantage by virtue of his position or relationship with   the  Company. As  a  general rule,  Senior  Management  Executives should avoid  conducting Company business with a relative, or with a business in which a relative is associated in any significant role. Any dealings with a related party must  be Conducted  in  such   a  way   that   no   preferential  treatment  is  given   and   adequate disclosures are made  as required by law and this Code.


The Company is committed to high standards of corporate governance and believes in Compliance with all the laws and regulations both in letter and spirit.  The Company is committed to  provide in  time,  accurate and  complete information as  required, to  all  concerned including its stakeholders. All Directors and  Senior Management Executives must  comply and where applicable, oversee  compliance by employees with  all the laws, rules   and   regulations  applicable to  the  Company  and   its  employees.  Each  Senior Management  Executive   must   acquire  appropriate  knowledge  of  the   requirements relating to  his  duties sufficient to  enable  him  to  recognize potential non  compliance issues   and   to  know   when   to  seek  advice   from   the  Legal  Department  on  specific Company policies and procedures.


All Directors and  Senior Management Executives and  their  immediate family  members shall not derive any benefit  or assist  others to derive any benefit  from the access to and possession of information about  the  Company, which  is not  in the public  domain and thus  constitutes insider information. All Directors and  Senior  Management Executives are required to comply with  the Company’s Code  of Conduct for Prohibition of Insider Trading.


All Directors and  Senior  Management Executives must  maintain the  confidentiality of sensitive information (that  is not  in  public  domain) relating to  the  Company which comes to their knowledge in the course  of the discharge of their functions and any other Confidential  information  about   the  Company  that   comes   to  them,   from   whatever source,    except    when    such    disclosure   is   authorized  or   legally    mandated.  The confidentiality shall  also continue after  such  person ceases  to hold  office as Director or serve the organization.

No  Senior  Management Executive   shall  communicate with  any  member of press  or publicity media or  any  other   outside agency   on  matters  concerning the  Company, except through the designated spokespersons or authorized otherwise.


The  Directors and   Senior  Management  Executives shall  be  transparent  in  all  their dealings except in cases where the needs  of business security dictate otherwise and  shall hold  themselves accountable to the Board or Managing Director/Compliance Officer as the case may be.


The  Directors and   Senior  Management  Executives owe  a  duty to  the  Company to advance the Company’s business. The Directors and  Senior  Management Executives are prohibited from taking  (or directing to a third party) a business opportunity (relevant to the line of business intended to be pursued by the Company) that is discovered through the use of corporate property, information or position, unless  the Company has already been offered  the opportunity and turned it down. The Directors and Senior Management Executives are  prohibited from  using  corporate property, information or  position for personal gain  and   from  competing with   the  Company.  Wherever, it  is  difficult   to differentiate between personal and  Company benefits  or  there  are  both  personal and Company benefits   in  certain   activities, the  only  prudent course   of  conduct for  the Directors and  Senior  Management Executives is to make  sure  that  any  use of Company property  or  services   or  such   transactions  that   is  not  solely   for  the  benefit   of  the Company has prior  approval of the Board of Directors/Managing Director/Manager of the Company.


The  Directors and  Senior  Management  Executives shall  exercise  their  responsibilities with  utmost cost  consciousness within the  organization and  shall  promote the  same. The Directors and  Senior  Management Executives shall  not  use  any  facility  or asset  of the  Company  for  their   personal  use  except   when   such   facility   or  asset   has  been provided for personal use by policy or specific permission.


The Company shall  provide equal  opportunities to all its employees and  all qualified applicants for employment without regard to race,  caste,  colour,  gender, religion,  sex, age,  marital status, disability, national origin,  or  any  other  factor  made  unlawful by applicable  laws   and   regulations.  This  policy   relates   to  all  phases  of  employment including recruitment, hiring, placement, promotion, transfer, compensation, benefits, training,  educational,  social   and   recreational  programs  and   the   use   of  Company facilities.  The  Directors and  Senior  Management  Executives shall  encourage women employees to report any  harassment concerns and  be responsive to any  complaints of harassment  or   other    unwelcome  and    offensive  conduct.   Sexual   harassment  or exploitation is specifically prohibited. 


The Company will focus  on meritocracy, equity and  upholding of Company values  in all people processes including performance management systems, appraisals, remuneration and  rewards. The  Directors and  Senior  Management  Executives shall uphold  the   values   of  trust,   teamwork,  mutuality  and   collaboration,  meritocracy, objectivity, self respect  and  human dignity while  dealing with  the  people within the organisation.  The  Directors  and   Senior   Management  Executives shall   practice and encourage the  spirit  of productive debate and  discussion among the  employees and with  the  Board  as the  situation may  warrant. The  Directors and  Senior  Management Executives shall not show  disrespect to their  superior officers or to the authority of the Board.  The Directors and Senior Management Executives shall  not  engage in misinformation,   disinformation   or   personal   vilification  or   victimization   of   any employee or stakeholder.


The  Directors and  Senior  Management  Executives shall  never  compromise with  the interest  of  the  Company  in  all  their   dealings  with   suppliers  and   customers.  The Directors and  Senior Management Executive  shall not accept  gifts and  presents of more than   nominal  value   or  receive   gratuitous  or  other   payments  or  treatments  from suppliers or customers which  could  lead to compromising the Company’s interests.


The Company is committed to serve  the community around its area  of operations. The Company  believes   that   no   organization  can   survive  in   isolation  and   it   has   a responsibility towards  the  public   at  large.  The  Company aims  to  reach  out  to  the neighboring   communities   and    conserve   the   environment.   The   Company   shall continuously take  requisite community development initiatives around the areas  of its operations. The  Directors and  Senior  Management  Executives shall  in their  decisions respect  the necessity of environment protection and  pollution control  consistently with the need  of sustainable development.

  1. DUTIES OF  INDEPENDENT  DIRECTORS  (AS  PER  SCHEDULE  IV  of  the Companies Act, 2013)

The independent directors shall—

(1) Undertake appropriate induction and   regularly update and   refresh   their   skills, knowledge and familiarity with the Company;

(2) Seek appropriate clarification or amplification of information and, where necessary, take and follow appropriate professional advice and opinion of outside experts at the expense of the Company;

(3) Strive to attend all meetings of the Board of Directors and of the Board committees of which he is a member;

(4) Participate constructively and actively in the committees of the Board in which they are chairpersons or members;

(5) Strive to attend the General Meetings of the Company;

(6) Where they  have  concerns about  the running of the Company or a proposed action, ensure that  these  are  addressed by  the  Board  and,  to  the  extent   that  they  are  not resolved, insist that their concerns are recorded in the minutes of the Board meeting;

(7) keep themselves well informed about the Company and the external environment in which it operates;

(8) Not to unfairly obstruct the functioning of an otherwise proper Board or Committee of the Board;

(9)  Pay  sufficient attention  and   ensure that   adequate  deliberations are  held   before approving related party transactions and  assure themselves that  the  same  are  in  the interest of the Company;

(10) ascertain and   ensure that   the  Company has  an  adequate  and   functional vigil mechanism and  to ensure that  the interests of a person who  uses  such  mechanism are not prejudicially affected  on account of such use;

(11) Report concerns about unethical behavior, actual or suspected fraud or violation of the Company’s code of conduct or ethics policy;

(12)  Acting   within his authority, assist   in protecting the legitimate interests of the Company, shareholders and its employees;

(13) not  disclose  confidential information, including commercial secrets,  technologies, advertising and  sales promotion plans,  unpublished price  sensitive information, unless such disclosure is expressly approved by the Board or required by law.


The Directors and Senior Management Executives:

a) Shall at all  times  make  an  endeavor to  attend such  meetings/occasions including Board  and  Committee meetings as are  required of the  person for  the  benefit,  growth and development of the Company.

b) Shall dedicate sufficient time, energy and attention to the Company to ensure diligent performance and be aware of and seek to fulfill his or her duties and  responsibilities as set  forth  in  the  Company’s Memorandum  & Articles  of  Association and  Corporate Governance Guidelines.

c) Shall not illegally withhold any property or documents of the Company and should ensure protection of the same at all times.

d) Shall not knowingly suppress a material fact, which can be detrimental to the interest of the Company, from the appropriate authority/body.

e) Shall not make any statement; verify any return or form, containing any particulars, knowing it to be false.

f) Shall practice a conduct of giving highest respect to humans and human values and must promote the same.


The Company Secretary shall be the Compliance Officer for the purpose of this Code. Senior Management Executives are required to report observed violations of the Code and illegal or unethical behavior to the Managing Director/Manager/Compliance Officer.

All reports will be treated in a confidential manner and it is Company’s policy not to allow retaliation for reports made in good faith of misconduct by others. In accordance with an established, documented & approved process, the Company will undertake, review & where appropriate, investigate of alleged violations or misconduct. Senior Management   Executives are   expected to   cooperate in   internal investigations of misconduct and violations of this Code.


Any  waiver of any  provision of this  Code  for  a member of the  Company’s Board  of Directors or  a  Senior  Management  Executive must   be  approved in  writing by  the Company’s   Board    of   Directors/Managing   Director/Manager   and    appropriately disclosed.

Based on the business requirements and   applicable regulations the Code   may   be amended by the Board of Directors from time to time.


The  matters covered in  this  Code  of Business  Conduct and  Ethics  are  of the  utmost importance to the Company, its stockholders and its business partners, and are essential to the  Company's ability  to conduct its business in accordance with  its stated values. The Company expects all the Directors and Senior Management Executives to adhere to these   rules   in carrying out   their   duties for   the   Company.  Directors and   Senior Management Executives are accountable for full compliance with this Code.  Sanctions for  breach   of  this  Code   shall  be  determined  by  the  Board  of  Directors in  case  of Directors and  the Managing Director/Manager in the case of Senior Management Executives.


The Code shall become applicable to all the existing directors as soon as it is approved by the Board of Directors. In case of a new director the Code shall become applicable from    the    date    of   his   appointment.  All   Senior    Management   Executives  shall acknowledge the  receipt  of this  Code  in the  acknowledgement form  appended to this Code  indicating that  they  have  received, read  and  understood, and  agreed to comply with  the  Code  and  send  the  same  to  the  Managing Director/Manager/Compliance Officer. A New Senior Management Executive will submit such an acknowledgment at the   time   when   his   employment begins/when he   assumes a senior   management position.


The  Directors and  Senior  Management  Executives shall  affirm  compliance with  this Code  of Conduct on  an  annual basis  as  at  the  end  of the  each  financial year  of the Company. (Within 15 days of the close of every financial year).


This Code of Conduct set forth guidelines for conduct for the Board of Directors and Senior Management Executives. It is not  intended to  nor  does  it  create  any  right  in favour of  any  Director or  Senior  Management Executive,   client,  supplier, customer, shareholder, or any other  person or entity.

Place: Ankleshwar

Date:   07/09/2016

By Order of the Board of Directors

Maninder Singh Jolly

Managing Director

    Din No: 00491254


The Managing Director

Prolife Industries Limited

213, G.I.D.C , Panoli

Ankleshwar, 394116 (Gujarat)

Sub: Code of Business Conduct and Ethics and Annual Compliance Reporting

I have  received and  read  the  Company’s Code  of  Business  Conduct and  Ethics  for Directors and  Senior Management Executives as approved by the Board of Directors on 07th September,2016. I understand the  standards and  policies  contained in  the  Company’s Code and  understand that  there  may be additional policies  or laws specific to my job or role.  I  agree   to  comply  with   the  Company’s  Code   and   shall   be  responsible and accountable for any  non-compliance of the  Company’s Code  by me. I also  understand that  if I have  any  clarification concerning the  Company’s Code,  I can consult with  the Managing Director and  that my questions or reports to these sources will be maintained in confidence.

Further more  I shall affirm compliance with  this Code  of Conduct on an annual basis as at  the  end  of the  each  financial year  of the  Company (within 15 days  of the  close  of every financial year).

Name  :

Designation :

Signature :

Date :

Note : Please sign and  return this form to the Company Secretary.