The Company’s philosophy on corporate governance is to observe the highest level of ethics in all its dealings, ensure efficient business conduct, and aspire to achieve its goal by creating value for all its stakeholders. The Company’s philosophy is in line with the Tata group’s long-standing tradition of fair and transparent governance.

The Company has adopted the Tata Code of Conduct for its employees, including the Executive Directors. In addition, the Company has adopted a code of conduct for its non-executive Directors. The Company’s corporate governance philosophy has been further strengthened through the Tata Business Excellence Model, the Tata Code of Conduct for Prevention of Insider Trading, the Code of Corporate Disclosure Practices, and the Whistle Blower Policy. The Company is in compliance with the requirements of corporate governance stipulated under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [‘Listing Regulations’].