New Delhi, Nov 30 (Inditop.com) State-run overseas oil explorer ONGC Ltd has decided to implement the whistle-blower policy which will allow employers to confidentially report suspected unethical or fraudulent acts within the organisation.
In a statement, ONGC said it implemented the policy despite it being only one of the non-mandatory requirements under clause 49 of the listing agreement with the stock exchanges.
“Now with the implementation of the whistle-blower policy, we are voluntarily going one more step forward to underline our commitment to transparency and ethical practices in our operations,” ONGC chairman and managing director R.S. Sharma said in a statement.
The policy encourages employees to become whistle-blowers by volunteering information on any unethical practices and actual or suspected fraudulent transactions in the organisation to the notice of the competent authority.
The statement said ONGC has also “ensured a very robust mechanism within the same framework to protect them (whistle-blowers) from any kind of harm.”