HBL Power Systems Ltd.,
CODE OF CONDUCT FOR BOARD MEMBERS AND SENIOR MANAGEMENT PERSONNEL

5. Enforcement of Code of Conduct :  

• Company Secretary shall be the Compliance Officer for the purpose of this code.
   

• Each Board Member and Senior Management Personnel shall be accountable for fully complying with this code.
   

• Compliance Officer shall report breach of this code, if any, which comes to his notice to the...
  
   - Board in case of all Board members, and
  
   - Chairman in case of Senior Management Personnel .
   

• All Board Members and Senior Management Personnel shall be subject to any internal or external investigation for violation of this code. The Company shall ensure confidentiality and protection to...
  
  - any person who has, in good faith, reported a violation or suspected a violation of this code or other Company policies,
  
  - any person who is assisting in any investigation or in the process of investigation with respect to such a violation .
   

• The Chairman shall determine penalty for breach of this code by Senior Management Personnel. In case of breach of this code by the Whole- time Directors and/or Part - time Directors, the Board shall examine the same.
   

• Penalty may include serious disciplinary action, dismissal form the office as well as other remedies, including recommendations for any of the above penalties, as considered appropriate under the given circumstances .