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1. INTRODUCTION :
1.1 Winners Royal Varsha Credit Cooperative Society Limited (the "Society") is committed to promoting ethical conduct, transparency, and accountability among all members of the Society, including the Board of Directors, CEO, employees, volunteers, and contractors.
1.2 As part of this commitment, the Society has established a Vigil Mechanism and Whistle Blower Policy to facilitate the reporting of any suspected fraud, corruption, or other unethical conduct and to protect whistleblowers from retaliation or victimization.
2. OBJECTIVES :
2.1.The objectives of the Vigil Mechanism and Whistle Blower Policy are to:
(a) Encourage and facilitate the reporting of any suspected fraud, corruption, or other unethical conduct.
(b) Ensure that all reports are thoroughly investigated, and appropriate action is taken.
(c ) Protect whistleblowers from retaliation or victimization.
3. SCOPE :
This policy applies to all members of Winners Royal Varsha Credit Cooperative Society Limited, including the Board of Directors, CEO, employees, volunteers, and contractors.
4. REPORTING PROCEDURE :
4.1 Any member who wishes to report suspected fraud, corruption, or other unethical conduct may do so by submitting a written complaint to the Society's designated Whistle Blower Officer.
4.2 The complaint should include the following information:
(a) The nature of the suspected misconduct.
(b) The identity of the person(s) involved, if known.
(c) Any supporting evidence or documentation.
4.3 Complaints may be submitted anonymously if desired. However, anonymous complaints must contain sufficient information to allow for a meaningful investigation.
5. INVESTIGATION AND FOLLOW-UP :
5.1.All complaints received under this policy will be thoroughly investigated by the Whistle Blower Officer or other designated investigator. The investigation will be conducted in a confidential and objective manner, and all parties involved will be treated with fairness and respect.
5.2.If the investigation confirms that misconduct has occurred, appropriate action will be taken, which may include disciplinary action, termination of membership, or legal action, as appropriate.
5.3.The complainant will be kept informed of the progress and outcome of the investigation to the extent that is feasible and appropriate. However, the Society reserves the right to maintain confidentiality to the extent necessary to protect the privacy and rights of all parties involved.
6. PROTECTION AGAINST RETALIATION :
6.1 Winners Royal Varsha Credit Cooperative Society Limited prohibits retaliation against any member who reports suspected fraud, corruption, or other unethical conduct in good faith.
6.2 Any member who engages in retaliation or victimization will be subject to disciplinary action, which may include termination of membership or legal action, as appropriate.
7. AUDIT COMMITTEE :
7.1. The Society shall constitute a Audit Committee consisting of at least three members. The Committee shall be responsible for:
(a) Receiving and reviewing all complaints received under this policy.
(b) Conducting investigations as necessary.
(c) Determining appropriate action in response to confirmed misconduct.
(d) Reporting to the Board of Directors on a regular basis on the status and outcome of investigations.
7.2. The Audit Committee shall be responsible for maintaining the confidentiality of all complaints and investigations to the extent necessary to protect the privacy and rights of all parties involved.
8. REVIEW AND REVISION :
8.1. This Vigil Mechanism and Whistle Blower Policy shall be reviewed periodically by the Board of Directors to ensure that it remains relevant and effective.
8.2. Any necessary updates or revisions shall be made in accordance with the Act and other relevant laws and regulations.
8.3. By establishing a Vigil Mechanism and Whistle Blower Policy, the Society aims to create a culture of transparency and accountability, and to promote the highest standards of ethical conduct among all its members.
