CSR Policy

1.CSR CONCEPT:

Corporate Social Responsibility is strongly connected with the principles of sustainability. An organization should make decisions based not only on financial factors, but also considering the social and environmental consequences. As a corporate citizen receiving various benefits out of the society, it is our co-extensive responsibility to pay back in return to the society in terms of helping needy people by providing food clothes etc., keeping the environment  clean and safe for the society by adhering to the best industrial practices and adopting best technologies, and so on. It is the Company’s intent to make a positive contribution to the society in which the Company operates.

The policy that encompasses the Company’s philosophy for delineating its responsibility as a corporate citizen and lays down the guidelines and mechanism for undertaking socially useful programmes for welfare and sustainable development  of the community at large.

2.CSR GOVERNANCE :

A governance structure is responsible for implementing and administering CSR Policy in accordance with section 135 of the Companies Act, 2013 (CA 2013 Act) and would include the activities as covered under Schedule VII to the Act and the Companies (Corporate Social Responsibility Policy) Rules, 2014 and rules, notifications, circulars, guidance notes and regulations as may be prescribed from time to time.

3.CSR APLLICABILITY :

The Corporate Social Responsibility Policy (CSR Policy) of the Company sets out the framework guiding the Company’s CSR activities. The Policy also sets out the rules that need to be adhered to while taking up and implementing CSR activities.

The policy shall apply to all CSR initiatives and activities taken up by the Company, for the benefit of different segments of the society, specifically the deprived, under-privileged and differently abled persons.

4.CSR OBJECTIVES :

Corporate Social Responsibility is a form of corporate self regulation integrated into the business model. Therefore, the policy will function as a self regulating mechanism whereby the business will monitor and ensure its active compliance with the spirit of law and ethical standards.

The main objective of this policy is to set a guiding principle for carrying out CSR activities by the Company and also to set up process of execution, implementation and monitoring of the CSR activities to be undertaken by the Company.

5.CSR COMMITTEE :

As per Section 135(9), the amendment act, 2020, which got effective on September 28, 2020 has provided the relaxation to the Companies for constitution of the Corporate Social Responsibility Committee if the amount to be spent by them on CSR activity does not exceed fifty lakh rupees. Therefore as the spend did not exceed fifty lakh, the CSR discussions after September 28, 2020 were done in Board Meetings of the company.

6. CSR ACTIVITIES :

The Company would consider and approve any of the following Activities/ Projects and such other Activities\Projects as may be notified by Ministry of Corporate affairs from time to time as a part of Corporate Social Responsibility (“CSR”).

1. Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation and making available safe drinking water.
2. promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects.
3. promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups.
4. ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources and maintaining quality of soil, air and water
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 art and handicrafts
6. measures for the benefit of armed forces veterans, war widows and their dependents,
7. Training to promote rural sports, nationally recognised sports, paralympic sports and olympic sports
8. contribution to the prime minister’s national relief fund or any other fund set up by the central govt. for socio economic development and relief and welfare of the schedule caste, tribes, other backward classes, minorities and women;
9. Contribution or funds provided to technology incubators located within academic institution which are approved by the central government
10. Contributions to public funded Universities; Indian Institute of Technology (IITs); National Laboratories and autonomous bodies established under Department of Atomic Energy (DAE); Department of Biotechnology (DBT); Department of Science and Technology (DST); Department of Pharmaceuticals; Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH); Ministry of Electronics and Information Technology and other bodies, namely Defense Research and Development Organisation (DRDO); Indian Council of Agricultural Research (ICAR); Indian Council of Medical Research (ICMR) and Council of Scientific and Industrial Research (CSIR), engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs).]
11. Rural development projects
12. Slum area development
13. disaster management, including relief, rehabilitation and reconstruction activities

Any other activities in relation of the above and all other activities which forms the part of CSR as per Schedule VII of the Act, 2013 (“the Act”) as amended from time to time. (Collectively hereinafter referred to as “CSR Activities”)

7.MONITORING :

The Board shall ensure a transparent monitoring mechanism for CSR activities. All projects will be assessed under an agreed strategy and monitored and measured against the targets and budgets periodically, including the annual review.

The Board shall from time to time lay down the monitoring strategy based on the type of project undertaken.

8.DISCLOSURE :

The Company shall include in its annual report for the year ending March 31, 2022, the disclosures w.r.t. CSR as prescribed under Companies Act, 2013 and the rules as amended from time to time.

The above information shall also be displayed on the Company’s website.

9.AMENDMENTS :

The Company shall include in its annual report for the year ending March 31, 2022, the disclosures w.r.t. CSR as prescribed under Companies Act, 2013 and the rules as amended from time to time.

The above information shall also be displayed on the Company’s website.