| 1. |
INTRODUCTION: |
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Companies Act, 2013 requires prescribed classes of companies to appoint a Corporate Social
Responsibility (CSR) Committee and adopt a CSR Policy and ensure to spend at least 2% of the average net profit of the company
made during the three immediately preceding financial years in pursuance of CSR activities. Accordingly this
policy is adopted by the Board of Directors on the recommendation of the CSR Committee Meeting. |
| 2. |
CSR COMMITTEE: |
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The Board in its 175th meeting constituted CSR Committee of which Managing Director, Director
representing Finance Department, Director representing BC, MBC & ME Department and Thiru. Prabhu Govindan,
Independent Director as its members.
The Committee shall:
- Formulate and recommend to the Board of Directors a CSR Policy indicating the activities to be
undertaken by the company.
- Provide perspective and guidance to the Board of Directors on the matter relating to CSR.
- Recommend the amount to be spent on CSR activities
- Ensure CSR Activities are undertaken either directly or through a registered Implementation
Agencies who meet the eligibility criteria prescribed under CSR Policy Rules of MCA.
- Monitor the CSR policy from time to time
- Review the progress and performance and also suggest need-based modification when circumstance
so warrant.
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| 3. |
CORE FOCUS AREAS: |
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Following broad core areas are identified for CSR all of which are culled from the activities
spelt out under Schedule VII of the Companies Act, 2013 as amended through MCA Notifications from time to
time:
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3.1. |
Promoting Health care and Poverty eradication: |
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This include the following but not limited to the following:
- Preventive healthcare services especially in rural and slum areas
- Providing clean and protected drinking water in rural centres.
- Health care for visually impaired, physically challenged, abandon Girl children, HIV/AID positive
persons
- Proving preventive medical tools and in fractures including sanitary napkins, incinerators in
poor educational institutions, orphanages, home for invalids and senior citizens, local
hospitals and primary health centres.
- to provide grocery items to keep the life of abandon children especially girls, orphans,
physically challenged.
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3.2. |
Promoting Education: |
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- Support to education through construction of classrooms, lab, sheds etc and provide benches, computers, and
other needy infrastructures required (including electrical related works) for the homes, schools, orphanages
- Distribution of free notebooks, uniforms, school bags, footwear
- Establishment of Ballads for elementary education.
- Financing skill development courses or livelihood training for target groups of women, elderly,
underprivileged youth, orphans
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3.3. |
Promoting Gender Equality and Socio-economic Empowerment: |
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- Promoting gender equality and empowering women through capacity building programme, setting up of homes,
hostels for women, orphans, drop out girls
- Setting up of old age homes, day care centres for poor senior citizens
- Providing amenities/equipments to orphanages, old age homes etc
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3.4. |
Environmental Sustainability& Infrastructure Development: |
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- Tree plantation programme, rain water harvesting etc
- Installation of renewable energy systems
- Awareness programme on hazard usage of pesticides, chemicals, artificial colors and plastics
- Basic infrastructure facilities, including safe drinking water, sanitation, construction of hygiene toilets
etc
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3.5. |
Contribution to Govt. Relief and Welfare Funds/Disaster Relief Fund etc: |
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In the absence receipt of justifiable proposal , the Committee can consider to invest the funds
listed in the Schedule VII including State Government’s Relief/Welfare Funds and Disaster Relief Fund |
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3.6. |
Rural Development Projects: |
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- Providing infrastructure and other support to underdeveloped/backward districts by undertaking
rehabilitation work in a holistic manner
- improving accessibility to drinking water through installation and repair of hand pumps, tube wells, rain
water harvesting facility etc.
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| 4. |
IMPLEMENTATION OF CSR PROGRAMS: |
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- On receipt of proposal a need based identification studies to be carried out internally by verifying
documents /certificates submitted, photos etc
- The project proposal shall within the CSR policy of the company or within the ambit of Schedule VII of the
Companies Act.
- A visit may be undertaken by Nodal Officer or any other senior officer to ensure and need and extent of CSR
support required.
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| 5. |
NODAL OFFICER: |
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Financial Advisor cum Company Secretary or CFO under Companies Act is the Nodal Officer for CSR
activities of the company. |
| 6. |
FUNDING OF CSR PROJECTS: |
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- On the recommendation of project and fund limits by the CSR Committee, the management shall invite
quotations/tender or estimates as the case may be from local parties and evaluate the same in the usual way
and select the successful bidder and entrust work
- Upon completion of full work or part of the work, the funds may be released, after obtaining certificate
from the concerned institution for which CSR project is taken up.
- Separate CSR Fund Register shall be maintained in the Registered office of the company.
- Part/full payment can be made only after recording the expenditure in the CSR Register and after getting
work completion certificate from the benefiting institution.
- The benefiting Institution shall acknowledge the receipt of the in fractures /materials so provided .
- The benefiting Institution shall use the infrastructure/ material provided only for the purposes for which
it is given and maintain the same properly.
- On need based the infrastructure so created/materials supplied can be inspected by the Nodal Officer at any
time.
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| 7. |
REPORTING OF CSR ACTIVITIES: |
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A progress Report on the various CSR initiatives taken up by the company shall be submitted to
the CSR Committee for their review and the same shall be uploaded in the companies web site. |
| 8. |
GENERAL: |
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- Managing Director is authorized to approve CSR activities within the broad parameters set out in the CSR
Policy and provided by the CSR Committee.
- In case of clarification with regard to the any provision of the policy made by Nodal Officer, then the
decision of MD is final.
- None of the proposal not covered by this policy shall be accepted or undertaken by the company
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| 9. |
REVIEW OF THE POLICY: |
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CSR Policy be reviewed annually as may be necessary based on experience, statutory requirements and if
warranted by change of Government guidelines issued from time to time. |