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Vigil Mechanism



1.1 The Company believes in the conduct of the affairs of its constituents in a fair and transparent manner by adopting highest standards of professionalism, honesty, integrity and ethical behaviour.
1.2 The Company is committed to developing a culture where it is safe for all employees to raise concerns about any poor or unacceptable practice and any event of misconduct.
1.3 Section 177 read with Rule 7 of The Companies (Meetings of Board and its Powers), 2014 and revised SEBI LODR Regulation, inter-alia, provides, a mandatory requirement, for all listed companies to establish a mechanism called “Vigil Mechanism (Whistle Blower Policy)” for directors and employees to report concerns about unethical behavior, actual or suspected fraud or violation of the Company’s code of conduct or ethics policy.
1.4 The purpose of this policy is to provide a framework to promote responsible and secure whistle blowing. It protects directors and employees wishing to raise a concern about serious irregularities within the Company.
1.5 The policy neither releases directors and employees from their duty of confidentiality in the course of their work, nor is it a route for taking up a grievance about a personal situation.
2. Policy
2.1 This Policy is for the Directors and the Employees as defined hereinafter.
2.2 The Policy has been drawn up so that the Directors and Employees can be confident about raising a concern. The areas of concern covered by this Policy are summarized in paragraph 5.
3.1 “Director” means a Director on the board of the Company whether whole-time or otherwise.
3.2 “Disciplinary Action” means any action that can be taken on the completion of / during the investigation proceedings including but not limiting to a warning, imposition of fine, suspension from official duties or any such action as is deemed to be fit considering the gravity of the matter.
3.3 “Employee” means every employee of the Company (whether working in India or abroad) including Japanese expatriates stationed in India.
3.4 “Protected Disclosure” means a concern raised by a written communication made in good faith that discloses or demonstrates information that may evidence unethical or improper activity.
3.5 “Subject” means a person against or in relation to whom a Protected Disclosure is made or evidence gathered during the course of an investigation.
3.6 “Whistle Blower” is someone who makes a Protected Disclosure under this Policy.
3.7 “Whistle Officer” or “Committee” means an officer or Committee of persons who is nominated/appointed to conduct detailed investigation.
3.8 “Ombudsperson” will be the chairman of the Audit Committee for the purpose of receiving all complaints under this Policy and ensuring appropriate action.
4.1 To ensure that this Policy is adhered to, and to assure that the concern will be acted upon seriously, the Company will:
4.2 Ensure that the Whistle Blower and/or the person processing the Protected Disclosure is not victimized for doing so;
4.3 Treat victimization as a serious matter including initiating disciplinary action on such person/(s);
4.4 Ensure complete confidentiality.
4.5 Not attempt to conceal evidence of the Protected Disclosure;
4.6 Take disciplinary action, if any one destroys or conceals evidence of the Protected Disclosure made/to be made;
4.7 Provide an opportunity of being heard to the persons involved especially to the Subject;
5.1 The Policy covers malpractices and events which have taken place/ suspected to take place involving:
5.2 Abuse of authority
5.3 Breach of contract
5.4 Negligence causing substantial and specific danger to public health and safety
5.5 Manipulation of company data/records
5.6 Financial irregularities, including fraud, or suspected fraud
5.7 Criminal offence
5.8 Pilferation of confidential/propriety information
5.9 Deliberate violation of law/regulation
5.10 Wastage/misappropriation of company funds/assets
5.11 Breach of employee Code of Conduct/Ethics Policy or Rules
5.12 Any other unethical, biased, favoured, imprudent event
5.13 Policy should not be used in place of the Company grievance procedures or be a route for raising malicious or unfounded allegations against colleagues.
6.1 While it will be ensured that genuine Whistle Blowers are accorded complete protection from any kind of unfair treatment as herein set out, any abuse of this protection will warrant disciplinary action.
6.2 Protection under this Policy would not mean protection from disciplinary action arising out of false or bogus allegations made by a Whistle Blower knowing it to be false or bogus or with a mala fide intention.
6.3 Whistle Blowers, who make any Protected Disclosures, which have been subsequently found to be mala fide, frivolous or malicious shall be liable to be prosecuted under Company’s Code of Conduct.
7.1 Employees can make Protected Disclosure to Ombudsperson, as soon as possible but not later than 30 consecutive days after becoming aware of the same.
7.2 Whistle Blower must put his/her name to allegations. Concerns expressed anonymously WILL NOT BE investigated.
7.3 If initial enquiries by the Ombudsperson indicate that the concern has no basis, or it is not a matter to be investigation pursued under this Policy, it may be dismissed at this stage and the decision is documented.
7.4 Where initial enquiries indicate that further investigation is necessary, this will be carried through either by the Ombudsperson alone, or by a Whistle Officer/Committee nominated by the Ombudsperson for this purpose. The investigation would be conducted in a fair manner, as a neutral fact-finding process and without presumption of guilt. A written report of the findings would be made.
7.5 Name of the Whistle Blower shall not be disclosed to the Whistle Officer/Committee unless required for the purpose of investigation.
7.6 The Ombudsperson/Whistle Officer/Committee shall:
i) Make a detailed written record of the Protected Disclosure. The record will include:
a) Facts of the matter
b) Whether the same Protected Disclosure was raised previously by anyone, and if so, the outcome thereof;
c) Whether any Protected Disclosure was raised previously against the same Subject;
d) The financial/ otherwise loss which has been incurred / would have been incurred by the Company.
e) Findings of Ombudsperson/Whistle Officer/Committee;
f) The recommendations of the Ombudsperson/Whistle Officer/Committee on disciplinary/other action/(s).
ii) The Whistle Officer/Committee shall finalise and submit the report to the Ombudsperson within 15 days of being nominated/appointed, unless more time is required under exceptional circumstances.
7.7 On submission of report, the Whistle Officer /Committee shall discuss the matter with Ombudsperson who shall either:
i) In case the Protected Disclosure is proved, accept the findings of the Whistle Officer /Committee and take such Disciplinary Action as he may think fit and take preventive measures to avoid reoccurrence of the matter;
ii) In case the Protected Disclosure is not proved, extinguish the matter; Or
ii) Depending upon the seriousness of the matter, Ombudsperson may refer the matter to the Committee of Directors (Whole-time Directors) with proposed disciplinary action/counter measures. The Committee of Directors, if thinks fit, may further refer the matter to the Audit Committee for necessary action with its proposal. In case the Audit Committee thinks that the matter is too serious, it can further place the matter before the Board with its recommendations. The Board may decide the matter as it deems fit.
7.8 In exceptional cases, where the Whistle Blower is not satisfied with the outcome of the investigation and the decision, s/he can make a direct appeal to the Chairman of the Audit Committee.
7.9 ID attention is also drawn to the requirements under both legislation and
• regulation as to the disclosure of price-sensitive information. Consequently ID should not make any statements that might risk a breach of these. requirements.
7.10 On termination of the Appointment of ID will deliver to the Company all
• books, documents, papers and other property of or relating to the business of the Company or any Group Company which are in the possession, custody or power by virtue of the position as an Independent Director of the Company. The Company is able to arrange the disposal of papers which ID
• no longer require.
8. ID performance as Independent Director will be reviewed by the entire, Board. Based on the report of performance evaluation the decision of extending the term of appointment shall be made.
9. In line with provision of Clause IV sub clause 6 of Schedule IV, Companies Act, 2013, the terms and conditions of the appointment may be required to make public and display the same on the Company's website.
10. This letter refers to the appointment as an Independent Director of the Company. However, ID may be asked to serve on one or more committees of the Board.
11. There may be occasions when ID consider that they need professional advice in furtherance of the duties as a Director and it will be appropriate for them to consult independent advisers at the Company's expenses. The Company will reimburse the full cost of expenditure incurred in accordance with the Company's policy
12. The Letter and any non-contractual obligations arising out of or in connection with this Letter are governed by, and shall be construed in accordance with, the laws of India and the parties agree to submit to the exclusive jurisdiction of the courts of Delhi.

Created & Designed By: Eminent Infosystems Pvt. Ltd.