CII appeals members to sign MCC for Ethical Business Practices

Kolkata, Aug 26 (PTI) The Confederation of Indian Industry(CII) today made a appeal to the industry members to sign theModel Code of Conduct for Ethical Business Practices. "The Code contains the basic principles of doing businessethically. CII strongly believes ethical business practices isa journey in which voluntary adoption of this simplified codeis an initial step," said Moloy Banerjee, Chairman, CII ERGovernance Task Force and MD of Linde India at a seminar here. He said "It’s a matter of choice, either we regulateourselves, or we get regulated. Intent, strong leadership andself-motivation are critical to building an ethical andprofitable corporation." Jyoti Jindgar, Adviser, Competition Commission of India,explained why and how non-compliance of completion law maypose serious risks to businesses, boards of directors andthose held guilty. Heavy penalties, high costs of litigation, damages payableto aggrieved parties are some of the prices an enterprise willend up paying by not complying, she said. PTI DC DKBABK