INDIAN ETHOS

&
BUSINESS ENVIRONMENT

ASSESSMENT-1`
APPLICATION OF INDIAN VALUE SYSTEM
IN
VRL LOGISTICS LTD

ROSHAN G
JU2022MBA17192 SECTION –K

1
INTRODUCTION :

VRL was founded in 1976 by DR. Vijay Sankeshwar in Gadag, a small town in North
Karnataka with a single truck and a vision that was way ahead of its time. VRL gradually
expanded its services to Bangalore, Hubli and Belgaum. From this humble beginning VRL has
today grown into a nationally renowned logistics and transport company which is also currently
the largest fleet owner of commercial vehicles in India with a fleet of 5111 Vehicles (Including
295 Passenger Transport Vehicles & 4816 Goods Transport Vehicles amongst others).
VRL finds mention in the Limca Book of Record as the largest fleet owner of commercial
vehicles in india in the Private Sector. Mr. Vijay Sankeshwar has now been joined by his son
Mr. Anand Sankeshwar who brings in newer strategies to further drive the growth of the
Company.

Over the years, VRL has pioneered in providing a safe and reliable delivery network in the
field of parcel service. It has spread its operations to Courier Service, Priority Cargo &
Transport of Passengers by Air to meet the growing demands of its burgeoning customer base.
 Vision
To become the Premier Company that cuts across various segments and emerges as the
torchbearer of each segment that it ventures into.

 Mission
To provide the highest quality service to our customers by continuously increasing
cost efficiency and maintaining delivery deadlines. To encourage our workforce to
continuously strive for quality and excellence in everything they do. To promote team
work and create work environment that encourages talent and brings out the best in our
employees.

2
CODE OF ETHICS
FOLLOWED BT VRL LOGISTICS LTD :

VRL is known for its extremely good management-employment relationship. The company
offers high salary packages to its employees which helps build an easy-to-retain and loyal
employee base.
 Accountability
 Compliance
 Confidentiality of information
 Insider trading
 Equity
 Customer focus
 Team work & Spirit
 Gifts & Donations
 Corporate opportunity
 Financial record keeping & reporting

Accountability :
The Directors/Senior Management personnel shall discharge their duties in good faith
and integrity in business judgment and in the best interests of the Company and its
stakeholders. They are expected to use their best endeavors and organize the resources
for advancing the Company’s mission. They are expected to act ethically, honestly,
diligently and in good faith to protect the Company’s brand equity and image.
Compliance :
All applicable laws, rules and regulations shall be complied with. In order to assist
the company in promoting lawful and ethical behaviour, any possible violation of laws, rules,
regulations or the code of conduct shall be reported to the Board of Directors through the
Company Secretary.
Confidentiality of information :
Any information concerning the company’s business, its customers, suppliers,
etc., which is not in the public domain and to which the Directors/Senior Management
personnel have access or possesses such information, must be considered confidential and
held in confidence, unless authorized to do so and when disclosure is required under any law.

3
• Information not yet released to the public
• Unpublished company strategy
• Current or future R&D programs, technical breakthroughs and/or inventions
• Investments, planned mergers or acquisitions
• Information received from customers or partners
• Unpublished Financial data either actual or forecasted
• Employee information

Insider trading :
A Director /Senior Management personnel shall not derive benefit or assist others to
derive benefit by giving investment advice from the access to and possession of information
about the company, not in public domain and therefore constituting insider information.
Equity :
All attempts should be made to maintain equity and fair justice while dealing on behalf
of the Company. The Directors/Senior Management personnel shall be committed to provide
a work environment free from unlawful discrimination, harassment and intimidations of any
nature.
Customer Focus:
The Directors/Senior Management personnel shall focus on customer satisfaction,
which shall be the basic motto of the Company’s business. They shall ensure that the
communications given are accurate and truthful and do not deliberately omit important facts
or shall not be of misleading nature.
Team work & Spirit :
The principles of mutual trust, teamwork and spirit shall be appreciated and
maintained. Best efforts shall be made to contribute to an environment that builds confidence
and empowers people through personal and professional growth. They shall attempt that the
teams grow together through collaborative working, skills development, knowledge sharing
and learning from each other. Employees being invaluable assets shall be motivated to
achieve higher goals.
Gifts& Donations :
No Director/Senior Management Personnel of the company shall receive or offer,
directly or indirectly, any gifts, donations, remuneration, hospitality, illegal payments and
comparable benefits which are intended to obtain business favours.
Financial records keeping & reporting :
VRL Logistics Limited is required to comply with strict accounting principles and
regulations. It is critical to ensure that all transactions are properly identified, analysed and
recorded. Regardless of whether a Director/Senior Management person is directly involved in
financial reporting or accounting, most come into contact with financial transactions directly
or indirectly.

4
Other Directorships:
The Directors must disclose their Directorship, Committee membership on the
Board of other companies and substantial shareholding in other companies to the Board on an
annual basis. It is felt that service on the Board of a direct competitor is not in the interest of
the company.
Conculsion;
India as a cultural ethos and rich heritage and tradition as well as value based management
style.
Business organization is established by the people, of the people and for the people .
If the employee of the organization want to do some welfare of society , influenced by the
Indian code of ethics .

References

1. https://www.vrlgroup.in/investor_download/Code_of_Conduct.pdf
2. https://www.motorindiaonline.in/vrl-logistics-leading-the-way-in-service-quality-and-
work-ethics/
3. https://m.economictimes.com/markets/stocks/news/logistics-sector-in-a-sweet-spot-
transport-corporation-vrl-logistics-can-give-16-24-return/articleshow/93290110.cms
4. https://www.indiainfoline.com/company/vrl-logistics-ltd/management-
discussions/29776
5. https://economictimes.indiatimes.com/vrl-logistics-ltd/balancesheet/companyid-
46612.cms
6. https://www.business-standard.com/company/vrl-logistics-ltd-29776/annual-
report/auditors-report
7. https://www.business-standard.com/company/vrl-logistics-ltd-29776/annual-
report/auditors-report
8. https://www.vrlgroup.in/