Formulating Code of Conduct & Ethics

Professor R Balakrishnan Balakrishnan, , Symbiosis Institute of Business Management

The prospective investors and the stakeholders of any company who want to invest / hold / trade in the stocks of any corporate, want to ensure that the companies, in which they invest in, are not only performing properly, but also has proper corporate governance in place with business ethics and the required regulatory compliance is made. It is important to note that with the growing strength of consumer movements and rising levels of awareness among stakeholders, corporations are now started realizing that stakeholders and consumers are no longer indifferent to unethical practices like financial irregularities, noncompliance of various laws, environmental compliance, tax evasion, hazardous working conditions and above all the poor quality products and services

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India Management General March 2010 Vol. 3, No. 10, Winter 2010

Professor R Balakrishnan Balakrishnan

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Professor Bala is a renowned and qualified lawyer and member of seven professional bodies. He has been honoued with “Company Secretary of the year 2007- Corporate – Highly Commanded”, Award by the Institute of Chartered Secretaries and Administrators of UK at a glittering ceremony in London, which is featuring in the Limca Book of National records in years 2009. He is the first such professional in India to achieve this designation for his caliber to go beyond the requirements of his role to maximize opportunities for his organization and he has introduced measures for adoption of best global practices in all areas of business including compliance with UK Combined Code on corporate governance in his organization where he served. Not only this, he is also certified as Internal Control Specialist” by the Institute of Internal Control from US, making him a proud person to achieve this certification which also earned him a national record in Limca Book of national records in year 2008. Further to this, Bala is also got his certification as “certified Internal Control Professional” by the Institute of Internal Control from US, making him, once again, and a proud person to achieve this certification which also earned him a national record in Limca Book of national records in year 2010. For more than 28 years, he has been serving with Foseco India Limited, at Pune, India, a GVC-II level certified company for its corporate governance practices and a listed company with Bombay Stock Exchange and National Stock Exchange. He was the Company Secretary and Legal Services Manager of Foseco India Limited before he took up an overseas assignment at the Kingdom of Bahrain where he served about one and a half years as a group company secretary for HiTs Africa Limited – a telecom major who has its subsidiaries in Tanzania, Liberia, Democratic Republic of Congo and Equatorial Guinea. He has authored a book titled “Handbook on Audit Committee” and also co-authored a book of “Compliance Guide to Corporate Governance” and both of them published by a leading book published known as Taxmann in India. He is well known for his contribution to a large number of professional journals and magazines and he has been delivering lectures and making presentations for the Institute of Company Secretaries of India and other professional bodies. He was a member of the panel set up by the Institute of Cost and Management Accountants of India jointly with the Government of India for introducing and implementing corporate practices in India and was also a member of the Research Committee of the Institute of Company Secretaries of India for its Western Regional office. Currently, Prof Bala, is the visiting faculty of Symbiosis Institute of Business Management at Pune and he is teaching for the management students.

Symbiosis Institute of Business Management

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Established in 1978, SIBM is in its 30th year of service to the student community. It remains the flagship brand of Symbiosis and is recognized as one of the best Business Schools in India. In the year 1979, SIBM proved its pioneering self by becoming the only institute in Pune to organize a seminar outside the city precincts - in Mumbai. Soon the trend was set and others followed suit. The concept of Internships / Summer Training was another offering made by SIBM to Pune. It was in 1982 that learning cum training scheme was started.

India Management General March 2010 Vol. 3, No. 10, Winter 2010