1. PREAMBLE
OBJECTIVES:
This policy shall be read in line with Section 135 of the Companies Act 2015, Companies (Corporate Social Responsibility Policy) Rules 2014, and such other rules, regulations, circulars, and notifications (collectively referred hereinafter as ‘Regulations’) as may be applicable and as
amended/notified from time to time and will, inter-alia, provide for the following:
- To lay down guidelines for the Company to operate its business in an economically, socially and environmentally sustainable manner.
- To contribute to society at large by way of social and cultural development, imparting education, training and development and skill enhancement programs for their development and generation of income.
- To reinforce a positive and socially responsible image of the Company in the society.
2. CSR ACTIVITIES
The Policy recognizes that corporate social responsibility is not merely compliance; it is a commitment to support initiatives that measurably improve the lives of underprivileged by one or more of the following focus areas as notified under Schedule VII of Section 135 of the Companies Act 2013 and Companies (Corporate Social Responsibility Policy) Rules 2014:
- Eradicating hunger, poverty & malnutrition, promoting preventive health care & sanitation & making available safe drinking water
- Promoting education, including special education & employment enhancing vocation skills especially among children, women, elderly & the differently- abled & livelihood enhancement projects
- Promoting gender equality, empowering women, setting up homes & hostels for women & orphans, setting up old age homes, day care centers & such other facilities for senior citizens & measures for reducing inequalities faced by socially & economically backward groups
- Reducing child mortality and improving maternal health by providing good hospital facilities and low-cost medicines
- Providing with hospital and dispensary facilities with more focus on clean and good sanitation so as to combat human immunodeficiency virus, acquired immune deficiency syndrome, malaria and other diseases
- Ensuring environmental sustainability, ecological balance, protection of flora & fauna, animal welfare, agro-forestry, conservation of natural resources & maintaining quality of soil, air & water
- Employment enhancing vocational skills
- Protection of national heritage, art & culture including restoration of buildings & sites of historical importance & works of art; setting up public libraries; promotion & development of traditional arts & handicrafts
- Measures for the benefit of armed forces veterans, war widows & their dependents
- Training to promote rural sports, nationally recognized sports, Paralympic sports & Olympic sports
- Contribution to the Prime Minister’s National Relief Fund or any other fund set up by the Central Government for socio-economic development & relief & welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities & women
- Contributions or funds provided to technology incubators located within academic institutions, which are approved by the Central Government
- Rural development projects
The above list of activities is illustrative and not exhaustive. The CSR Committee may consider CSR activities not falling in the above list subject to the condition that such activities relate to the subject enumerated in Schedule vii of the Companies Act 2013. CSR activities shall be undertaken as projects, programs or activities excluding activities undertaken in pursuance of the normal course of business of the Company.
3. RESOURCES
4. CSR COMMITTEE
- Formulating and recommending to the Board, a CSR policy and activities to be undertaken by the Company as per Schedule VII of the Companies Act 2013
- Recommend the amount of expenditure to be incurred on the activities, and
- Monitor the policy of the Company from time to time.
5. PROJECTS AND PROGRAMMES
The Projects and Programs will be formulated by the CSR team under the guidance of the CSR Committee.
6. MONITORING AND REVIEWING
This Policy will be reviewed regularly and may be altered from time to time as per the provisions of the Companies Act 2013.
7. GENERAL
a) Any or all provisions of the CSR policy would be subject to revision/amendment in accordance with the guidelines on the subject as may be issued by the Government, from time to time.
b) The Company reserves the right to modify, add, delete or amend any of the provisions of this Policy.
c) In case of any doubt with regard to any provision of the policy and also in respect of matters not covered herein, a reference shall be made to CSR Committee. In all such matters, the interpretation and decision of the CSR Committee shall be final.
