CSR
CSR IN INDIA
Corporate bodies’ involvement in CSR activities is not a new concept in India. Industrial majors have been engaged in social development activities for long back. However, Section 135 of the Companies Act, 2013 has brought it under the legal purview. The concept of CSR is introduced through the “Comply-or-Explain” mandate. It mandates qualifying companies to constitute a Corporate Social Responsibility Committee to effectively monitor CSR activities of the Company. Further, the Companies (Corporate Social Responsibility Policy) Rules, 2014 lay down the framework and modalities for carrying out CSR activities which are specified in Schedule VII of the Act.
The management of the Company expresses its willingness and support for the CSR concept, and its legal framework and shall abided to it. The CSR Committee of the Board had drafted a CSR Policy which was approved by the Board of Directors.
CSR ACTIVITIES
The Committee can undertake one or more of the following activities, which relate to Schedule VII of the Companies Act, 2014 as its projects for CSR activity
Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation including contribution to the Swachh Bharat Kosh set up by the Central Government for the promotion of sanitation and making available safe drinking water
Promotion of education, including special education and employment enhancing vocation skills, especially among children, women, elderly, and the differently abled and livelihood enhancement projects
Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, daycare centers and other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups
Ensuring environment sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water including contribution to the Clean Ganga Fund set up by the Central Government for rejuvenation of river Ganga
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
Measures for the benefit of armed forces veterans, war widows and their dependents
Training to promote rural sports, nationally recognized sports, Paralympic 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 Castes, 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
Slum area development
MANAGEMENT COMMITMENT
Our Board of Directors, our Management and all our employees support to the philosophy of compassion, characterized by a willingness to build a society that works for everyone. This is the cornerstone of our CSR policy. Our Corporate Social Responsibility policy conforms to the relevant section of the Corporate Social Responsibility, Rules made under Companies Act, 2013 and amendment(s) to be made thereto in future.
