The policy lays down the guidelines and mechanism for undertaking socially useful programs for welfare & sustainable development of the community at large. Recently, the concept of Corporate Social Responsibility has gained prominence from all avenues. Organizations have realized that Government alone will not be able to get success in its endeavor to uplift the under privileged part of the society. It is the continuing commitment by business to behave ethically and contribute to economic development of the society at large and building capacity for sustainable livelihoods.Objective:
The Company aims at spending a defined portion of its net profit for the betterment of Indian society through:
• Providing financial and other assistance to students for basic and higher education who belong to socially economical weaker sections.
• Supporting efforts for community health and providing healthcare.
• Supporting efforts for providing drinking water and sanitation facilities at schools, colleges etc.
• Taking proactive measures for the well-being of society, as per needs.
The CSR Committee of the Company comprises of the following
a) Mr. Puneet Pushkarna, Chairman of the Company,
b) Mr. Arun Seth, Independent Director, and
c) Mr. K. Balakrishnan, Director.
Responsibilities of the Committee:
- Formulating and recommending to the Board of Directors the CSR Policy and indicating activities to be undertaken,
- Recommending the amount of expenditure for the CSR activities, and
- Monitoring CSR activities from time to time.
Areas of CSR
The various areas of CSR activities will primarily include the following:
i. Education: Promoting education, including special education and inclusive education for children with disability, and skill development and livelihood enhancement projects.
ii. Community Health Care: Engaging with the community to promote health care including preventive health care, safe drinking water and sanitation.
iii. Ecology: Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water.
iv. Disaster Relief and Rehabilitation: Engaging with communities affected by natural disasters for relief and long-term rehabilitation to strengthen their resilience, e.g. intervention in livelihoods, access to education.
v. Business Sustainability: Reducing and minimizing the environmental footprint of our operations and enhancing the biodiversity quotient of our facilities.
The above is only an illustrative list and the CSR activities will not be restricted to these activities only and CSR Committee will take up new areas of CSR activities as per the Schedule VII of the Companies Act, 2013 read with CSR rules as amended from time to time
In case of any doubt with regard to any provision of the policy and also in respect of matters not covered herein, a reference to be made to the CSR Committee of the Company. In all such matters, the interpretation and decision of the CSR Committee shall be final.
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 Central Government , from time to time.
The Company reserves the right to modify, cancel, add, or amend any of these Rules.
Determination of allocable amount
The CSR Committee shall determine the amount to be allocated for each activity on yearly basis at a minimum of 2% of average annual net profits before tax of the Company for three immediately preceding financial years as prescribed under the Companies Act, 2013 and rules thereunder.
It is duty of the Board to ensure that compliance as per the policy has been made.
Communication & information dissemination
This CSR policy of the Company will be disseminated wherever required.
For queries relating to the CSR policy, please mail to [email protected]