Corporate Social responsibility ( CSR ) is the process by which an organization thinks about and evolves its relationships with stakeholders for the common good and demonstrates its commitment in this regard by adoption of appropriate business processes and strategies . The Board of Directors of the Company is to discharge its obligations through its Corporate social Responsibility committee ( CSR committee ) constituted for this purpose

The company shall constitute a CSR Committee of the Board consisting of three or more directors of which at least one director shall be an independent director .

  1. The Corporate Social Responsibility Committee shall –
    1. Formulate and recommend to the Board , a CSR Policy which will indicate the activities to be undertaken by the Company within the framework specified in Schedule VII of the Companies Act, 2013, specifying the modalities of execution of such project or programs and implementation schedules for the same
    2. Recommend the amount of expenditure to be incurred on the activities referred to above
    3. Monitor the CSR Policy of the Company from time to time by instituting a transparent monitoring mechanism for implementation of the CSR projects or programs or activities undertaken by the company
  2. The Board of the Company shall –
    1. After taking into account the recommendations made by the CSR Committee , approve the CSR Policy
    2. Ensure that the activities as are included in this Policy are undertaken by the Company
    3. Decide to undertake its CSR activities approved by the CSR Committee, either directly or through a registered trust or a registered society or a company established by the company or its holding or assocaite company under Section 8 of the Companies Act, 2013.
      Provided that –
      1. If such trust, society or company is not established by the company or its holding or subsidiary orassociate company, it shall have an established track record of three years in undertaking similar programs or projects
      2. The company has specified the project or programs to be undertaken through these entities, the modalities or utilisation of funds on such projects and programs and the monitoring andreporting mechanism.
    4. The Company may also collaborate with other companies for undertaking the CSR activities in such a manner that the CSR committees of respective companies are in a position to report separately on such projects or programs in accordance with these rules
  3. The CSR expenditure shall include all expenditure including contribution to corpus for projects or programs relating to CSR activities approved by the Board on the recommendation of the CSR Committee . The surplus, if any, arising out of the CSR projects or programs or activities shall not form part of the business profits of the Company
  4. The Board shall endeavor to spend in every financial year at least two percent of the company’s average net profits of the three immediately preceding financial years , calculated in accordance with the provisions of Sec 198 of the Companies Act, 2013 and the Companies ( Corporate Social Responsibility Policy ) Rules, 2014 , in pursuance of its CSR Policy .
    The CSR Policy approved by the Board shall be displayed on the Company’s website
  5. CSR Activities :
    The Company shall undertake its CSR activities as per its stated CSR Policy in one or more of the following activities in line with Sec 135 and Schedule VII of the Companies Act, 2013 specifying modalities of execution of such project or programs and implementation schedules for the same and shall give preference to the local area and areas around it where it operates :
    1. Eradication of hunger, poverty and malnutrition, promotion of healthcare including preventive health care and sanitation and making available safe drinking water
    2. Promotion of education , including special education and employment enhancing vocation skills and livelihood enhancement projects
    3. Promotion of gender equality , empowerment of women , setting up of homes and hostels for women and orphans , setting up of old age homes, day care centres and such other fcailities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups
    4. Ensuring of environmental sustainability , ecological balance, conservation of natural resources and maintaining quality of soil, air and water , protection of flora and fauna, animal welfare , agroforestry
    5. Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art , setting up public libraries, promotion and development of traditional arts and handicrafts
    6. Measures for the benefit of armed forces veterans, war widows and their dependents
    7. Training to promote rural sports and nationally recognised sports, paralympic sports and Olympic sports;
    8. Rural development projects
    9. Contributions or funds provided to technology incubators located within Central Government approved academic institutions
    10. Contributions to the Prime Minister’s National Relief Fund or any other fund set up by the central government for socio economic development and relief and welfare of the Scheduled castes, the scheduled tribes , other backward classes, minorities and women
  6. The Composition of the CSR Committee:

This Committee comprises of the following Directors:
Mr. Shishir Shirish Joshipura
Mr. Rajesh Thantry
Mr. Subramanyam Gopal – Independent Director

Corporate Social Responsibility Policy Guidelines




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