This Policy is made in accordance with the requirements of the Companies Act 2013 (“the Act”) and Companies (Corporate Social Responsibility Policy) Rules 2014, as amended and applicable on the Company w.e.f Financial year 2019-20.
The Board has constituted a CSR Committee comprising of minimum two members to oversee the budget and execution of CSR activities in accordance with the CSR Policy and applicable provisions of Companies Act, 2013 as applicable from time to time.
The CSR Projects of the Company will be aligned with the requirements of Schedule VII of Section 135 of the Companies Act 2013, as applicable from time to time, interalia including the following:
- Eradicating hunger, poverty and malnutrition;
- Promotion of healthcare including preventive healthcare;
- Promotion of education and employment-enhancing vocational skills;?
- Ensuring environmental sustainability
- Sports Promotion in association with Sports Federations, Government and local bodies.
- Other areas approved by the CSR Committee within the ambit of CSR Rules as amended from time-to-time.
The Company will endeavour to invest the requisite amount in the CSR activities as prescribed under the Company’s Act & Regulations. Budgets will be approved by the Board and proper tracking will be done as per the rules. Any surplus arriving out of the CSR initiatives will not be used for the business of the Company and shall be utilised as per the applicable provisions of the Companies Act, 2013.
Considering the size of amount of CSR involved, Company will carry out the CSR activities in one or more projects as identified by CSR Committee. The CSR projects shall be carried out through identified credible partners engaged in the similar activities. The CSR Committee shall monitor the utilisation of CSR amount / execution / impact of projects it gets associated with.
The Company’s CSR engagements will be disseminated on its website or Annual report as required under applicable law from time to time.
“Note: Pursuant to the amended provisions of the Companies Act, 2013, the erstwhile CSR Committee has been dissolved and the functions of CSR Committee are presently discharged by the Board of Directors of the Company.”
CSR Budget for FY 2023-24
“The approved CSR Budget for FY 2023-24 is Rs.11.04 Lakhs, to be spent towards Khushali Swachhta (Sanitation) Program.”