SpiceJet Limited has a vision for total customer satisfaction and enhancing stakeholders’
value. SpiceJet’s mission is to become India’s preferred airline with the highest
consumer value through honest and ethical conduct of the business.
The Company’s philosophy on corporate governance revolves around fair and transparent
governance and disclosure practices. This includes respect for human values, individual
dignity, and adherence to honest, ethical and professional conduct.
This Code of Conduct is applicable to the Members of the Board of Directors of the
Company and Senior Management, defined as members of core management team excluding
Board of Directors but including all functional heads (hereinafter collectively
referred to as Senior Officers).
The Senior Officers shall confirm that they have received, read and understood the
Code of Conduct, and agree to comply with the Code annually in the format specified.
Following are the covenants of the Code of Conduct for board members and senior
- Honest and Ethical Conduct: Senior Officers are expected to comply with all
applicable laws, rules and regulations and all applicable policies and procedures
adopted by the Company with the highest standard of personal and professional integrity,
honesty and ethical conduct.
- Confidential Information: Senior Officers have to secure, preserve, safeguard
and use discreetly, confidential information in the best interest of the Company.
They should not divulge or communicate such information to third parties except
when authorized for the business reasons.
- Related Parties: Senior Officers should avoid conducting company business
in any significant way with a relative (as defined in the Companies Act, 1956),
or with a business in which a close relative is associated, without intimation to
the Board of Directors.
- Exclusivity: Senior Officers are expected to devote their full attention
with integrity and honesty to the business interests of the Company. They are prohibited
from engaging in any activity that interferes with his proper discharge of responsibilities
of the Company, or is in conflict with or prejudicial to the interests of the Company.
- Gratuities and Gifts: The Company’s policy prohibits the receipt of gifts
and gratuities, particularly from individuals or firms with which the Company has
business dealings. The only exception is the receipt of complementary items that
carry Company’s name printed or embossed on it so as to clearly establish that it
is a sales promotional item. To the extent possible all such gifts or hospitalities
must be declined so as to ensure that Senior Officers are not put in an obligatory
position vis-à-vis the company customer, supplier or trader.
- Protection and Proper Use of Company's Assets: Senior Officers are responsible
for effective control and appropriate use of all Company’s resources entrusted to
them in the official discharge of their duty. Company's assets should be used only
for legitimate business purposes.
- Insider Trading: Senior Officers should abide by company’s insider trading
policy in compliance with the SEBI (Prohibition of Insider Trading) Regulations
1992, as adopted by the Board of Directors of the Company.
- Anti Harassment Policy: The Senior Officers should adhere to and facilitate
effective functioning of the Company’s mechanism for redressal of complaints of
harassment of any nature as per laid down policies and principles.
- Compliance with the Code: Any Senior Officer who knows or suspect violation
of applicable laws, rules or regulations or this Code of Conduct, must immediately
report such information to the HR Department. This will help safeguard company’s
assets and reputation.
The Board of Directors of the Company shall designate appropriate person to determine
appropriate action incase of violation of the Code.
It is company’s policy to provide full, fair, accurate, timely and understandable
disclosures in reports and documents that we file with, or submit to any Public
Authority and in our other public communications. Senior Officers must ensure that
they and other in the Company comply with company’s disclosure controls and procedures
Waivers and amendment of the Code
Any amendment or waiver of any provision of this Code should be approved by the
Board of Directors of the Company and disclosed appropriately.