Chennai: In a move to check corruption and ensure transparency among business communities, the Confederation of Indian Industry (CII) on Tuesday released a 'Code on Business Ethics' for its member companies.

"(The Code) is intended to strengthen the institutional framework that would help drive ethical practices in the organisation. CII wanted to take a lead in this initiative," CII President-Designate Adi Godrej told reporters after releasing the Code at the CII-National Council Meeting here.

CII would distribute the Code to its 8,000 member companies and though it was not mandatory to follow it, they were expected to follow it as a guide, Godrej, also the Chairman of Godrej Group, said.

He claimed CII was the first industry body to devise such a code of ethics and said the organisation would distribute a separate 'Code on Human Values' to schools and colleges.