PRACTICE – CONFLICT OF INTEREST
As per good governance and self-regulatory organisation, Yog Dhyan Foundation is always committed to avoid any situation where personal interests could be in conflict with the interests of YDF.
- Inappropriate use of project assets or funds
- Seeking or accepting cash, gifts or other benefits from third parties in exchange for preferment of the third parties in their dealings with YDF
- Blackmail or extortion
- Paying of excessive prices or fees to third parties with the aim of personal gain
Procedures for resolving conflict of interests
The management, employees, associates, staff and legal representatives of the YDF have a duty to primarily avoid entering into any conflict of interest.
In case such a situation is or might be likely to happen, every management, employees, associates, staff and legal representatives of the YDF has to acknowledge this fact as soon as possible to their YDF focal point (VIGILANCE OFFICER) for further consultation. Failing to do so may result in disciplinary or contractual measures.
Several options are available for mitigation of conflict of interests or mitigation of consequential risks. It is up to the decision of relevant supervisor to choose the adequate means of resolving the given situation.
These Policy has come into force from the date of approval by the Board of Trustees.
For YOG DHYAN FOUNDATION
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Trustee