Amendments, Updates & Policy Review
1. Purpose
The purpose of this policy is to establish a structured, transparent, and legally compliant framework for the amendment, periodic review, updating, and replacement of company policies. This ensures that all organizational policies remain current, effective, compliant with applicable laws and regulations, aligned with business objectives, and reflective of evolving organizational practices.
This policy aims to maintain governance integrity, operational clarity, and consistency across all departments, subsidiaries, and stakeholders of the Company.
2. Scope
This policy applies to all corporate policies, procedures, guidelines, manuals, and internal governance documents issued by the Company, including but not limited to HR policies, operational policies, compliance policies, IT policies, finance policies, and ethics-related documents.
It is applicable to:
- All permanent, contractual, probationary, and temporary employees.
- Directors, officers, and senior management.
- Consultants, interns, and third-party associates where applicable.
All group companies, subsidiaries, and business units under the Company
3. Policy Ownership & Authority
The authority to initiate, approve, amend, or withdraw company policies shall be governed as follows:
- The Board of Directors retains ultimate authority over strategic and statutory policies.
- The Managing Director / CEO holds executive authority for operational and organizational policies.
- Department Heads act as custodians for department-specific policies.
- The Legal & Compliance function (or designated authority) ensures regulatory compliance and legal validity.
- The Human Resources Department coordinates policy communication, implementation, and record management.
No policy amendment shall be considered valid unless approved through the prescribed authority structure.
4. Policy Review Frequency
All company policies shall be reviewed periodically to ensure continued relevance and compliance.
The review framework includes:
- Mandatory review at least once every two (2) years.
- Annual review for high-impact or statutory policies.
- Event-driven reviews triggered by legal, regulatory, or organizational changes.
- Immediate review in response to audit findings or compliance gaps.
- Review upon major business restructuring, mergers, or expansion
Each review shall assess clarity, applicability, compliance, effectiveness, and operational alignment.
5. Grounds for Policy Amendments
Policy amendments may be initiated under the following circumstances:
- Changes in applicable laws, rules, regulations, or government notifications.
- Recommendations from internal or external audits.
- Organizational restructuring, expansion, or change in business model.
- Technological advancements or process improvements.
- Identified ambiguities, inefficiencies, or operational challenges
Amendments shall be based on documented justification and organizational necessity.
6. Amendment & Update Process
The structured process for policy amendments shall include the following steps:
- Identification of need for amendment by department, management, or compliance function.
- Submission of a formal amendment proposal with rationale and impact analysis.
- Legal and compliance review for statutory alignment.
- Management or Board-level approval as per policy classification.
- Documentation of version control and effective date.
- Official communication to all concerned stakeholders
No informal or verbal policy changes shall be recognized.
7. Version Control & Documentation
The Company shall maintain strict version control for all policy documents to ensure traceability and accountability.
This includes:
- Unique policy identification number and version number.
- Date of original issue and subsequent revisions.
- Summary of changes in each revised version.
- Archival of superseded versions for audit and legal reference.
- Secure storage in the official policy repository
Only the latest approved version shall be considered valid and enforceable.
8. Communication of Policy Changes
All approved policy amendments or updates shall be communicated effectively and promptly.
Communication methods may include:
- Official email notifications.
- Internal portals or intranet postings.
- Employee handbooks or manuals.
- Induction and refresher training programs.
Departmental briefings or circulars
Employees are deemed informed once the policy is officially published, regardless of individual acknowledgment.
9. Employee Responsibility & Acknowledgement
Employees are responsible for understanding and complying with the latest versions of all applicable policies.
This responsibility includes:
- Reviewing updated policies upon notification.
- Seeking clarification when required.
- Providing formal acknowledgment where mandated.
- Ensuring adherence in daily operations.
- Reporting inconsistencies or implementation challenges
Non-compliance due to lack of awareness shall not be accepted as a valid excuse.
10. Policy Withdrawal or Replacement
The Company reserves the right to withdraw, merge, or replace any policy when deemed necessary.
Such actions may occur due to:
- Obsolescence or redundancy.
- Replacement with consolidated or updated frameworks.
- Legal or regulatory changes.
- Strategic organizational realignment.
- Introduction of advanced governance systems
Withdrawn policies shall be clearly marked and archived.
11. Exceptions & Deviations
Any exception or deviation from an existing policy must be formally approved in writing.
Conditions include:
- Documented justification for deviation.
- Approval from competent authority.
- Time-bound applicability of the exception.
- No violation of statutory or ethical standards.
- Proper documentation and record maintenance
Unauthorized deviations shall attract disciplinary action.
12. Compliance & Enforcement
Strict adherence to approved policies is mandatory.
The Company shall:
- Monitor compliance through audits and reviews.
- Investigate reported deviations or violations.
- Take corrective and disciplinary actions where necessary.
- Update policies to address recurring compliance issues.
- Ensure accountability at all levels of management
13. Effective Date
This policy shall come into effect from the date of approval by the competent authority and shall remain in force until amended, replaced, or withdrawn as per this policy.
14. Governing Law
This policy shall be governed by and interpreted in accordance with the laws of India. Any disputes arising under this policy shall be subject to the jurisdiction of competent courts as determined by the Company.