No gifts should be accepted from any person or party who is in default of the company in any manner. By way of illustration, parties in default would be parties from whom monies are overdue or parties with whom the Company is engaged in litigation and parties against whom disciplinary action has been taken.

It is desirable that the recipient should check the status of the parties from Chief (Procurement) and Chief Financial Controller (Corporate) to make sure that the provisions of the above clause are not contravened.
 

It is recognised that at times gift exceeding the value caps contained in this policy are to be received as the return of these gifts may cause embarrassment. This situation may occur special during overseas visit of our officers where sometimes expensive gifts are given by the overseas hosts. In this situation the recipient should surrender the gift at the earliest. The company will decide the procedure for utilisation of such gifts.
 

The company considers it good practice to share gifts of a nature, which an employee is permitted to receive, such as gifts of an edible nature, with fellow employees. The nature of the gift permitting, it would also be good practice to use gifts in the office.
 

Where an employee received gifts exceeding the value caps contain in this policy, it would be advisable to return the gift to donor with a covering letter thanking the donor for the same and quoting the relevant provision of this policy. The draft of the letter as and when required may be obtained from the office the Ethics Counsellor.
 

In case of any clarification / interpretation of this policy the employee should contact the office of Ethics Counsellor, Tata Steel.
 

The policy will become effective with immediate effect.