CORPORATE SOCIAL RESPONSIBILITY POLICY
The Corporate Social Responsibility (CSR) activity covers the process by which an organization develops and defines its relationships with the ultimate stakeholders contributing to the common good of the society. The CSR initiatives focus on holistic development of host communities and create social, environmental and economic value to the society.
The Company recognizes that its business activities have wide impact on the society in which it operates and an effective practice is required giving due consideration to the interests of its stakeholders including shareholders, customers, employees, suppliers, business partners, local communities and other organizations. The objective of this policy is to set guiding principles for carrying out CSR activities by the Company.
ACTIVITES MAY BE UNDERTAKEN BY THE COMPANY:-
To attain its CSR objectives, activities, undertaken by the Company, shall mean and include, but not limited to:-
- Eradicating extreme hunger and poverty.
- Promotion of education.
- Promoting gender equality and empowering women.
- Reducing child mortality and improving maternal health.
- Ensuring environmental sustainability.
- Protection of national heritage, art and culture.
- Measures for the benefit of armed forces veterans, war widows and their dependents.
- Training to promote rural sports, nationally recognised sports, Paralympics sports and 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 and relief and welfare of the Scheduled Caste, the Scheduled Tribes, other backward classes, minorities and women.
- Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government.
- Rural development projects.
- Contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation.
- Contribution to the Clean Ganga Fund setup by the Central Government for rejuvenation of river Ganga.
IMPLEMENTATION OF CSR ACTIVITIES:
Company will implement its CSR activities through such entity/organization and on such locations as approved by the CSR Committee. The surplus arising out of the CSR Projects or programs or activities shall not form part of the business profit of the Company.
SCOPE AND RESPONSIBILTIES OF CSR COMMITTEE:
The responsibilities of CSR Committee include:
- 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.
- Monitoring CSR activities from time to time.
- CSR activity to be taken by the company in accordance with the policy and submit a report to the board on all CSR activity undertaken during the financial year.
- Preparation of Financial outlay for CSR activities.