CODE OF CONDUCT

CODE OF CONDUCT FOR DIRECTORS & SENIOR MANAGEMENT

1. Each Director and Senior Executive of the Company declares that he would
   Act with honesty, integrity and fairness in the interest of the stakeholders of the Company.

2. Take utmost care and due diligence in the performance of their duties of his office and in exercise of the powers attached to his office.

3. Recognise that confidential information received in the course of exercise of his
   duties is not disclosed to anyone, unless such disclosure is authorized by the Company.

4. Not allow his personal interests or the interests of any associated person, to conflict with the interests of the Company.

5. Not conduct himself in a manner which is likely to bring discredit to the Company.

6. Not make any improper use of the information obtained in the course of exercise of discharge of his duties with the Company.

7. Be independent in judgement and actions.

8. Take all reasonable steps to protect the assets of the Company and ensure their efficient use for legitimate purposes of the business.

9. Recognise his obligation, at all times, to comply with the spirit and letter of law and with the principles of this Code.