1. PURPOSE
Apex Instruments Company Private Limited (Apex) is committed to maintaining the highest ethical standards in the workplace. To this end, the company has implemented a policy to identify and address the risks of bribery, corruption, and theft within its premises.
The purpose of this policy is to outline the responsibilities of employees and stakeholders under relevant anti-corruption laws and regulations. Additionally, this policy aims to inform employees of the consequences of engaging in corrupt or fraudulent behavior, including potential legal action and penalties.
2. SCOPE
Apex Instruments Company Private Limited (Apex) has developed this policy in compliance with the Prevention of Corruption Act, 1988, and the Indian Penal Code, 1860. This policy aims to create a healthy and fair work environment by preventing corruption and unethical practices related to it.
The policy provides guidance to employees and stakeholders on how to identify and handle instances of bribery and corruption. It outlines the company's zero-tolerance approach towards corruption and unethical behavior and establishes measures to prevent and report any such incidents.
The policy aims to create awareness among employees and stakeholders about the dangers of corrupt practices and the adverse impact they can have on the company's reputation and overall business operations. It encourages all employees and stakeholders to be vigilant and report any suspected incidents of corruption or unethical behavior.
In accordance with this policy, Apex will take appropriate action against any employee found guilty of corrupt practices, including but not limited to, termination of employment and reporting to the relevant authorities. Apex is committed to maintaining the highest ethical standards and ensuring a transparent and fair work environment and expects all employees and stakeholders to comply with this policy and act with integrity and honesty in all their dealings.
3. APPLICABILITY
Apex Instruments Company Private Limited (Apex) strictly prohibits all forms of undue advantages obtained or accepted by employees, or any attempts made to obtain them, with the intention of performing or causing improper or dishonest conduct, or with an ulterior or malafide motive. This policy applies to all employees, directors, officers, or other individuals working with Apex, whether temporarily or permanently, across all branches throughout India.
Undue advantages include any offers, promises, authorizations, or provision of anything of value to customers, business partners, vendors, or other third parties, with the aim of inducing or rewarding improper performance of an activity connected with the company. It also encompasses any theft committed by an employee in the workplace with the intent of unlawful gain for the employee and unlawful loss for the company.
Apex has a zero-tolerance policy towards any employee found guilty of obtaining or attempting to obtain undue advantages or engaging in theft in the workplace. Such actions are considered a breach of the company's code of conduct and ethics and will lead to disciplinary action, including termination of employment, and reporting to relevant authorities if necessary
4. DEFINITION AND INTERPRETATIONS
4.1. Undue Advantage- It means any gratification whatever, other than legal remuneration.
However, the word “gratification” is not limited to pecuniary gratifications or to gratifications estimable in money. Furthermore, the expression “legal remuneration” is not restricted to remuneration paid to an Employee, but includes all remuneration which he is permitted by the organization, to receive.
4.2. Bribe- It is an inducement or reward offered, promised or provided in order to gain any commercial, contractual, regulatory or business or personal advantage.
4.3. Inducement- It is something which helps to bring about an action or desired result.
4.4. Business Advantage- It means that Apex is placed in a better position (financially, economically, or reputationally, or in any other way which is beneficial) either than its competitors or than it would otherwise have been had the bribery or corruption not taken place.
4.5. Kickbacks- They are payments of any portion of a contract made to employees of another
contracting party or the utilization of other techniques, such as sub-contracts, purchase orders or consulting agreements, to channel payment to public officials, political parties, party officials or political candidates, to employees of another contracting party, or their relatives or business associate.
4.6. Extortion- It means to directly or indirectly demand or accept a bribe, facilitation payment or kickback.
5. ANTI- BRIBERY AND CORRUPTION STANDARDS
To ensure compliance with the highest ethical standards, Apex prohibits all employees from engaging in any form of bribery or corruption. Specifically, all employees are prohibited from:
5.1. Offering or giving payment, gift, or hospitality to a third party with the expectation of receiving an advantage in business or to reward a business advantage already given.
5.2. Offering or giving payment, gift, or hospitality to a third party to "facilitate" or expedite a routine procedure or to ensure that the report to such a routine procedure is in favor of the company.
5.3. Accepting payment, gift, or hospitality from a third party if the employee knows or suspects that it is offered or provided with the expectation that a business advantage will be provided by the company in return.
5.4. Threatening or retaliating against another employee or worker who has refused to commit a bribery offense or who has raised concerns under this policy.
5.5. Engaging in any other activity that can give an unfair edge or advantage to the individual or the company, which would have otherwise not been provided.
5.6. Engaging in any activity that might lead to a breach of this policy.
6. GIFTS AND HOSPITALITY
6.1. This policy does not prohibit normal and appropriate hospitality given or received, in accordance with the company's rules and guidelines, to or from third parties.
6.2. The company's rules and guidelines clearly define when it is appropriate for an employee to make or receive gifts and/or hospitality from a third party, and set a limit for the value of such gifts. It is mandatory for every employee to obtain prior written consent from their departmental heads before making or receiving such gifts.
7. INAPPROPRIATE FAVOURS
The following list, while not exhaustive, provides examples of "red flags" that may indicate inappropriate practices and potential corrupt activities. All those subject to this policy should be aware of these indicators-
7.1. The use of an agent with a poor reputation or with links to a foreign government.
7.2. Commission payments that are unusually large or where the agent does not appear to have provided significant services.
7.3. Cash payments or payments made without a paper trail or without compliance with normal internal controls.
7.4. Unusual bonuses to foreign personnel for which there is little supporting documentation.
7.5. Payments made through third-party countries or to offshore accounts.
7.6. Private meetings requested by public contractors or companies hoping to tender for contracts.
7.7. Abusing the decision-making process by not following Apex's policies or procedures.
7.8. Unexplained preferences for certain sub-contractors.
7.9. Invoices rendered or paid in excess of contractual amounts.
8. RESPONSIBILITIES UNDER THE POLICY
8.1. All employees, directors, officers, and other individuals working with Apex, whether temporary or permanent, must read, understand, and comply with the company's policies.
8.2. All individuals working with Apex must participate in all training provided by the company.
8.3. The prevention, detection, and reporting of bribery offenses and other forms of corruption are the
responsibility of all individuals working for or under Apex's control. Such individuals must avoid any activity that may suggest a breach of this policy.
8.4. If an employee is requested to make a payment on behalf of the company, they should always consider the purpose of the payment and whether the amount requested is proportional to the goods or services provided. The employee should also ask for a receipt that details the reason for the payment. If the employee has any concerns or queries about a payment, they should report them to the Compliance Officer before taking any action.
8.5. Any individual who believes or suspects that an action in conflict with this policy has occurred or may occur in the future or has been solicited by any person must notify the Compliance Officer or make a disclosure in the prescribed format as soon as possible.
8.6. Any individual who breaches this policy will face disciplinary action, which may include dismissal for gross misconduct. Apex reserves the right to terminate its contractual relationship with any individual(s) in the event of a breach under this policy.
9. REPORTING VIOLATIONS
9.1. Any person who becomes aware of any instance or information suggesting a violation of this Policy has occurred or is about to occur must report it in writing to the Designated Officer and/or person.
9.2. Apex encourages openness and supports those who raise genuine concerns in good faith under this Policy. No one will suffer demotion, penalty, or other adverse consequences for refusing to engage in or permit a bribery offence or for reporting possible wrongdoing, even if it may result in the Company losing business or suffering a disadvantage, or if the report is found to be mistaken.
9.3. Apex strictly prohibits retaliatory action against any person who raises a concern in good faith.
9.4. The Compliance Officer and management shall thoroughly investigate all reports of violations under this Policy.
10. PUNISHMENT FOR VIOLATION
The disciplinary action that may be taken against an offender for violation of this Policy shall be commensurate with the nature and gravity of the offence and may include, but not be limited to, the following-
10.1.1.1. An opportunity of being heard- Apex shall provide the accused with a fair chance to be heard and comply with due process of law.
10.1.1.2. Warning and written apology- If the accusations against the accused are found to be true, Apex may issue up to three warnings as part of the disciplinary action and require a written apology from the offender, and/or
10.1.1.3. Cancellation of specific work Assignment- If the offence is related to a particular assignment given to the offender, Apex may suspend or withdraw the assignment completely or for a specified period of time; and/or
10.1.1.4. Cost- Apex may seek costs arising from the breach of this Policy; and/or
10.1.1.5. Suspension- Apex may suspend the employee for a period deemed appropriate; and/or
10.1.1.6. Dismissal- In cases of grave or continuous offence, Apex may dismiss the offender, who will be ineligible for recruitment by any branch office of Apex at any position. Apex may also take legal action as deemed necessary.
Note: The disciplinary action taken against an offender may not necessarily follow the order in which it is listed above and will depend on the severity and circumstances of the offence.
11. NON- WAIVER OF STATUTORY RIGHTS
Apex reserves the right to seek any legal remedy available under applicable law in relation to the breach of this policy. Non-compliance with the policy may result in criminal or civil penalties, the severity of which will depend on the nature and extent of the offense. Any individual found to be acting in contravention of this policy may be subject to disciplinary action, up to and including dismissal.
12. DISPLAY OF THIS POLICY
12.1. Apex shall display this Policy on the Apex website as well as display the same conspicuously on the notice boards of each of its offices in English.
12.2. Each employee shall view and confirm to these policies upon joining and/or upon the same being enforced by Apex.