Message from MD's Desk

I would like to make it clear to all, that the company does not support the adoption of any kind of unethical practices, even if it is with an intent to meet the company's (not individual's) objectives. Such reasoning, if applied is not acceptable to the company and no employee has the right to take such decisions on its behalf.

Dear Stakeholders

While setting our core values, one value and ethic was unanimously accepted without any debate. Ethical behavior needs to define everything that we do and it is something that we need to not just practice quietly, but demonstrate pro-actively to all our stakeholders, be they employees including contract employees, channel partners, suppliers or any other stakeholders.

Since the definition of Ethical behavior can be a point of discussion, we have now defined a Code for this that should be our guideline. I would encourage every stake holder of the company to take out time and carefully read this code. It is also our responsibility to ensure that this Code reaches all stakeholders that we are responsible for, such as channel partners and suppliers. Remember that ignorance of the code will not be treated as reason for not following it.

This code is designed to be a guide in making decisions that will properly reflect our fundamental principles, and the practices which follow these ideals. It is our duty to ensure that our behavior, attitude and the decisions we make live up to the principles and core values that govern this code.

We are a new company and work in a tough environment. The temptation to cut corners may present itself, be it on a personal level or in the interests of the company. I would like to make it clear to all, that the company does not support the adoption of any kind of unethical practices, even if it is with an intent to meet the company's (not individual's) objectives. Such reasoning, if applied is not acceptable to the company and no employee has the right to take such decisions on its behalf.

Along with individually practicing Ethical behavior, it is equally important to report any violations that are witnessed. Remember that in case you are witness to a violation and do not report it, you are also in violation of the code. So it is mandatory to report any violations.

We will practice Ethical behavior as per this code not just because the penalties on getting caught are prohibitive, or that it will do irreparable damage to our reputation. Though these are also reasons, we will practice it primarily because our conscience tells us that it is the right thing to do, and we are proud to work for a company that works in the correct way and deserves the success that it achieves.

And in this pursuit, I know that each and every one of you will uphold it with full commitment and passion.

Krishan Sachdev

Managing Director


Decisions at Carrier Midea India Private Limited (hereinafter referred as "CMI" or "the Company") are to be made solely in the dealings or relationships in connection with the best interest of Company following an objective evaluation of business considerations such as quality, performance to implement CMI's core values. Meeting this standard depends on the consistent use of high ethical standards and personal integrity by employees when making decisions on behalf of CMI.

Every employee is responsible for demonstrating integrity and leadership in complying with the provisions of this Code of Ethics and Conduct, Company policies and applicable laws and regulations. By including a focus on integrity, we show our commitment to a business culture that promotes the highest ethical standards.


This Code of Ethics and Conduct ("the Code") applies to all employees, Contractors, Vendors, and Dealers, Suppliers of CMI and its branches, including the 4Company officers and Directors. It applies to administrators and Company 4representatives, according to applicable laws. Copies of the Code will be available at the Human Resources Department or at the Legal Department, for all employees and entities that are authorized to act on behalf of the Company in areas where the Code is applicable. Administrators, officers and directors will be required to sign a Statement of Compliance annually, in addition to this Code. The directors are responsible for communicating these standards to those who work under them, ensuring that they are understood and observed.

Disciplinary Action

The Company has a "zero tolerance" policy for noncompliance with the Code. CMI employees who violate the Code are liable for disciplinary action up to the termination of employment and criminal prosecution, depending upon the severity and frequency of the violation.

No Retaliation Policy

No retaliation will be taken against anyone for complaining, reporting, participating in, or aiding with the investigation of a suspected violation of the Code, unless the allegation or the information provided shall prove intentionally fraudulent. CMI will maintain confidentiality of all concerns raised to the maximum extent possible.


"Applicable Laws" or "Laws" means any national or local law (statutory or otherwise), constitution, treaty, convention, code, rule, regulation, order, judicial interpretation, policy or other similar requirement enacted, adopted, promulgated or applied by a governmental authority that is binding upon or applicable to the shareholders and/or the Company, as amended unless expressly specified otherwise "MID" means Midea International Division; "CMI" means Carrier Midea India Private Limited and also referred as "Company" Carrier Midea India Private Limited, a private limited company incorporated under the Companies Act 1956, having its registered office at First Floor, Plot No. 51, Sector 32, Gurgaon, Haryana -122001 (also referred to as the "Company", which expression shall, unless repugnant to the context or meaning thereof, be deemed to include its successors, legal representatives and permitted assigns; "Carrier" means Carrier Corporation, a company duly organized and existing under the laws of the state of Delaware, USA, with its main office at One Carrier Place, Farmington, Connecticut, USA; "UTC" means United Technologies Corporation, a public company incorporated under the laws of the state of Delaware, United States of America and having a principal place of business in Hartford, CT, USA. "CMI Values" collectively means Customer Focus, Respect, Agility, Ethics and Innovation.


The Code shall become effective as of 17th June, 2013, subject to clarification and updates by the Company regularly.