Samit Code Of Governance

Code of Ethics
Samit believes in being a model enterprise that gives significant importance to good governance.

At the base of governance lie ethics. All employees and directors of Samit are expected to follow the highest standards of ethics in their functioning. They are expected to comply strictly with ethical principles in dealing with all stakeholders in the business. The Samit Board exerts substantial influence in ensuring good corporate governance. It formulates policies and guidelines from time to time to ensure that everybody in the enterprise is aware of the ethical norms of behavior and propriety.

The governance policies strongly favor team efforts and discourage individualism and deviations without valid reasons. There is a good mixture of encouragement and punitive measures to establish high norms of governance at Samit.

All directors and employees are required to comply with Samit's policies and to report any suspected violations towards the company ethics. These policies govern the behavior of Samit's business, including laws prohibiting all kinds of corruption. If any employee knows of or suspects a violation of applicable laws, rules or regulations or this Code of Ethics, he/she must immediately report such incidences to the Secretary, in the case of the employees, and to the Board in the case of the directors. Samit recognizes that this high standard of personal and professional ethics of the directors and employees will contribute to the overall interests of the company, and will help to safeguard Samit's assets, financial integrity and reputation. No one will be subject to retaliation because of a good faith report of a suspected violation.

Compliance with Laws, Standards & Regulations
Being a global enterprise, Samit is subject to varied laws and regulations as applicable in the countries of its operations. The Samit Board is committed to ensure that there are no cases of contravention of the laws and regulations as applicable. The Board enforces compliance through properly formulated policies and procedures.

Samit believes in following the same high standards of legal compliance regardless of country of operation.It is Samit's policy to make complete, fair, exact, timely and understandable disclosures in compliance with all applicable laws and regulations.

Conflicts Of Interest
Directors and employees cannot accept any position or benefits, participate in any business or business arrangement or otherwise act in a manner that creates or appears to create a conflict of interest, unless they make full disclosure of all facts and circumstances to, and obtain the prior written approval of the Secretary, in case of the employees, and the Board in case of all directors.

A "conflict of interest" arises when employees take actions or have interests that conflict in any way with the interests of Samit. These conflicts may make it difficult for them to perform their work objectively and efficiently.

Confidential Information
All directors and employees are required to preserve the confidentiality of all matters related to Samit's business and affairs exercising due responsibility except when disclosure is legally mandated or specifically authorized. Confidential information includes any kind of non-public information, which, if disclosed, can be harmful to Samit's interests and reputation. No director or employee shall use confidential information for his/her personal advantage or profit.

Protection and Proper Use of Company Assets
All Directors and employees shall protect Samit's assets and ensure their efficient use. They should be responsible towards the Samit's profitability. Samit's assets should only be used for genuine business purposes and not misused for personal gains. This also applies to the intellectual property of the enterprise as well as Samit's partners.