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Wipro to introduce `Whistle Blower Policy’

Posted by ekavi on July 6, 2006

Wipro to introduce `Whistle Blower Policy’
The company has already adopted an Ombudsprocess policy wherein it has established procedures for receiving, retaining and treating complaints received
Srinivas R
Monday, June 26, 2006

http://www.ciol.com/content/search/showarticle.asp?arid=85666&way=search

BANGALORE: Wipro Ltd is looking at strengthening its Ombudsprocess by introducing new Whistle Blower Policy. This will enable employees to raise their concerns about any malpractice, impropriety, abuse or wrongdoing at an early stage without fear of victimisation, subsequent discrimination or disadvantage.

Disclosing this in the SEC filing, the company said that it may establish a mechanism for employees to report to the management concerns about unethical behavior, actual or suspected fraud or violation of the company’s code of conduct or ethics policy. This mechanism could also provide for adequate safeguards against victimisation of employees who avail of the mechanism and also provide for direct access to the chairman of the audit committee in exceptional cases. Once established, the existence of the mechanism may be appropriately communicated within the organisation.

“The company has adopted an Ombudsprocess policy wherein it has established procedures for receiving, retaining and treating complaints received, and procedures for the confidential and anonymous submission by employees of complaints regarding possible violations of the code of conduct and ethics,” said company filings.

Under this policy, Wipro employees are encouraged to report questionable accounting matters, any reporting of fraudulent financial or other information to the stakeholders, any conduct that results in violation of the company’s code of business conduct and ethics, to management (on an anonymous basis, if employees so desire). Likewise, under this policy, the company has prohibited discrimination, retaliation or harassment of any kind against any employees who, based on the employee’s reasonable belief that such conduct or practice have occurred or are occurring, reports that information or participates in the investigation. “No personnel of the company has been denied access to the audit committee or its chairman,” said the company.

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One Response to “Wipro to introduce `Whistle Blower Policy’”

  1. isrocase said

    The SAC Conusmer Co-Operative store is a registered body (REGD No.BH-3324-1983), was formed form the service of the scientists at Space Application Center(SAC), Ahmedabad.
    SAC is part of the Indian Space Research Organization(ISRO). The SAC store, the tainted organization in question, has taken fixed deposits from 102 employees of SAC, the amount summing upto Indian rupees 40 lakhs in 1999-2000 at a previaling rate of interest 12-13% then. The unsuspecting scientists found investing their hard earned money with SAC store, firstly because it office was within the SAC premises and secondly it was run by employees of SAC itself,whom they trusted.
    The SAC stores refused to return the money and they fixed deposit(FD) holders approached the Consumer Redressal Forum, Ahmedabad City. A judgement was passed on 28-2-2003 directing the Executive committe members to pay back the fixed deposit amount with 12% interest and rupees 2000 as expenses. Till date only 22-25% of the money has been paid back and the remaining 78-75% of the principal and the entire interest and expenses are not paid back. There have been no steps taken by SAC or the parent organization ISRO for action against the perpeterators. Infact one member of the Executive committe was allowed a transferr to another city and another has retired, yet is recieving full pension. There have been promotion of other members as well. SAC, ISRO has taken no action what so ever against the criminals. If ISRO wanted, they could have stopped the salaries or diverted part of the salaries of these employees or could have stopped their promotions.

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