Gift Policy

Gift Policy

1. Purpose

The purpose of this policy is to set clear and fair guidelines for the giving and receiving of gifts within IVRL, ensuring all interactions are ethical, foster positive relationships, and align with the company’s values. The policy aims to avoid any actual or perceived conflicts of interest, bribery, or favoritism.

2. Scope

This policy applies to all employees (including off-roll staff), directors at IVRL, regardless of position or department. It covers both giving and receiving gifts from clients/ rated entities, vendors and business partners.

3. Definition of a Gift

A “Gift” is defined as any item of value, service, or benefit, including but not limited to cash, goods, tickets, meals, event invitations, discounts, accommodations, travel expenses or a product/service at discounted rates provided without expectation of payment or services in return.

4. General Guidelines

Employees should never give or accept any gift, entertainment, benefit or privilege, if they are intended to or would result in favorable treatment or influence the business decision regardless of the value and should never be given or accepted.

An employee should not accept any gift or entertainment, if it places the recipient under any real or perceived obligation.

4.1 Acceptable Gifts

• Modest tokens such as client company mementos, small consumables, low value edible items, calendars, cards or flowers.
• Gifts of nominal value given on special occasions (e.g., New Year or Diwali)

Note: These items should not be of value more than Rs. 5000/-

4.2 Unacceptable Gifts

• Cash or cash equivalents e.g. gift vouchers, gold, silver coins, stock or bitcoins.
• Gifts or hospitality from vendors during contract negotiations or procurement.
• Repeated gifts from the same individual or entity that may imply favoritism.
• Any gift exceeding ?5,000/-.

5. Procedure for Giving and Receiving Gifts

• Employees should promptly and transparently report and return any gift received or offered that might exceed the threshold stated above.
• Inappropriate gifts should be respectfully declined or returned, with an explanation referencing this policy when necessary, under intimation to HR and Compliance Officer.
• If a gift cannot be returned or it is not feasible to return, it should be donated for a corporate or charitable purpose after approval of HR and Compliance Officer.

6. Special Situations

• Gifts to and from government officials, regulatory agencies, or other entities with legal restrictions are strictly prohibited without advance review and legal clearance.
• Exceptions may apply for team-based or shared gifts, handmade items from children, or tokens received during community service, mementos received towards professional contribution (training, lectures, workshops etc.) provided these are disclosed and not exceeding Rs.5000/- in value terms.
• Any other as may be approved jointly by MD/CEO and Compliance Officer.

7. Policy Violations

Breaches of this policy will subject the employee to disciplinary measures, up to and including suspension or termination, depending on the severity and intent.

8. Communication and Review

• The policy and any changes to this policy shall be communicated to all employees from time to time.
• The policy will be available on the intranet  
• IVRL Management will periodically review and update the policy to ensure compliance with evolving business practices and laws.

Effective from October 2025

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