“Our investigation found 19 employees to be involved and action has been taken against all as detailed here – 16 employees have been separated from the Company for code of conduct violations, and 3 employees have been removed from the Resource Management function,” the company said in its statement. The company had notified the exchanges of his investigation on June 23.
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Also, six vendor entities or third party staffing firms, their owners and affiliates have been debarred from doing any business with TCS. The company reiterated that the issue relates to breach of the company’s code of conduct by certain employees and vendors supplying contractors. The violation of code of conduct did not involve any fraud by or against the company and there is no financial impact and no key managerial person of the company has been found to be involved.
“As a Tata Group company, we have a zero-tolerance policy towards such unethical conduct and the actions of these individuals do not reflect our values. We expect all our stakeholders and our employees to strictly adhere to the Tata Code of Conduct, which forms the bedrock of our integrity,” said the statement.
The company said it will continue to enhance its governance measures and detailed a number of processes as part of this initiative. RMG is responsible for allocation of available resources to various projects and in case of any shortfall, fill such requirements through contractors. Contractors are on the roles of the hiring agencies and may or may not be hired as permanent staff by the company.
Regular rotation of personnel performing key roles in the resource management function, enhanced analytics on supplier management and vendor management process audits are part of these initiatives. Further, TCS will undertake periodic declarations by vendors on compliance to the Tata Code of Conduct and know-your-supplier process to cover additional declarations.