Advent Oilfield Services Pvt. Ltd. is committed to adhering to sound principles of corporate governance, and has adopted corporate governance practices that promote the effective functioning of our board of directors, its committees and our company.

Code of Ethics

Advent believes in being a model enterprise that gives significant importance to good governance.

At the base of governance lie ethics. All employees and directors of Advent are expected to follow the highest standards of ethics in their functioning. They are expected to comply strictly with ethical principles in dealing with all stakeholders in the business. The Advent board exerts substantial influence in ensuring good corporate governance. It formulates policies and guidelines from time to time to ensure that everybody in the enterprise is aware of the ethical norms of behaviour and propriety.

The governance policies strongly favour team efforts and discourage individualism and deviations without valid reasons. There is a good mixture of encouragement and punitive measures to establish high norms of governance at Advent. 

All directors and employees are required to comply with Advent’s policies and to report any suspected violations of the company ethics. These policies govern the behaviour of Advent’s business, including laws prohibiting all kinds of corruption. If any employee knows of or suspects a violation of applicable laws, rules or regulations or this Code of Ethics, he/she must immediately report such incidences to the secretary, in the case of the employees, and to the board in the case of the directors. Advent recognizes that this high standard of personal and professional ethics of the directors and employees will contribute to the overall interests of the company, and will help to safeguard Advent’s assets, financial integrity and reputation.

Compliance with Laws, Standards & Regulations

Being a global enterprise, Advent is subject to varied laws and regulations as applicable in the countries of its operations. The Advent board is committed to ensure that there are no cases of contravention of the laws and regulations as applicable. The board enforces compliance through properly formulated policies and procedures.

Advent believes in following the same high standards of legal compliance regardless of country of operation. It is Advent’s policy to make complete, fair, exact, timely and understandable disclosures in compliance with all applicable laws and regulations.

Conflicts Of Interest

Directors and employees cannot accept any position or benefits, participate in any business or business arrangement or otherwise act in a manner that creates or appears to create a conflict of interest, unless they make full disclosure of all facts and circumstances to, and obtain the prior written approval of the Secretary, in case of the employees, and the board in case of all directors.

A “conflict of interest” arises when employees take actions or have interests that conflict in any way with the interests of Advent. These conflicts may make it difficult for them to perform their work objectively and efficiently.

Confidential Information

All directors and employees are required to preserve the confidentiality of all matters related to Advent’s business and affairs exercising due responsibility except when disclosure is legally mandated or specifically authorised. Confidential information includes any kind of non-public information, which, if disclosed, can be harmful to Advent’s interests and reputation. No director or employee shall use confidential information for his/her personal advantage or profit.

Protection and Proper Use of Company Assets

All directors and employees shall protect Advent’s assets and ensure their efficient use. They should be responsible towards Advent’s profitability. Advent’s assets should only be used for genuine business purposes and not misused for personal gains. This also applies to the intellectual property of the enterprise as well as Advent’s partners.