ANNUAL REPORT ON CSR ACTIVITIES:
- A BRIEF OUTLINE OF COMPANY’S CSR POLICY, INCLUDING OVERVIEW OF PROJECTS OR PROGRAMS TO BE UNDERTAKEN:
- The concept of Corporate Social Responsibility (CSR) has been developing since early 1970’s in India. Philanthropy and CSR is not a novel concept for Indian Companies. Even before the introduction of any statutory guidelines, some of the Companies were discharging their Corporate Social Responsibilities by engaging themselves in socio-economic and other philanthropic activities like promoting education, contributing to the social benefits in the situations of natural calamities, and health of the common people by organizing health camps. With the passage of the Companies Act 2013, the mandate for corporate service responsibility has been formally introduced to the dash Board of the Indian Companies. The CSR mandate is an attempt to supplement the Govt. efforts of equitably delivering the benefits of the growth and to engage the corporate world with the Country’s development agenda.
- Though there is no specific commonly applicable definition of CSR, it is the “continuous commitment by the business to behave ethically and contribute to economic development while improving the quality of life of workforce and their families as well as local community and society”. It is the responsibility of the corporate entity toward the society in consideration of the support given and sacrifice made by the society. Corporate Social Responsibility (CSR) is the concept whereby organizations serve the interest of the society by taking the responsibility for the impact of their activities on customers, employees, shareholders, communities, environment in all aspects of their operation.
- As per the Companies Act 2013 and rules made under clause 135 the CSR “ means and includes but is not limited to (i) Projects and programs relating to activities specified in schedule VII to the Act or (ii) projects and programs relating to activities undertaken by Board of Directors of the Company in pursuance of recommendations of the CSR Committee of the Board as per the declared CSR Policy of the Company subject to the condition that such policy will cover subjects enumerated in Schedule VII of the Act”.
- Our Companies Corporate Social Responsibility (CSR) policy is broadly based on the principles of National voluntary guidelines on social, environmental, and economic responsibilities of business released by the Ministry of Corporate Affairs on Business Responsibility Reporting, Companies Act 2013.
- OBJECTIVES OF THE CORPORATE SOCIAL RESPONSIBILITY (CSR) POLICY.
- The objectives of the CSR policy is to promote socio-economic development in rural areas, improve education, eradicate extreme hunger and poverty, promote gender equality and empowering women, reducing child mortality and improving maternal health, health care, and sanitization, ensuring environmental sustainability, employment enhancing vocational skills, social business projects, promoting and protecting natural heritage and culture and such other matters of the common good.
- Contribution to the Prime Ministers National relief fund or any other fund set up by Central Govt. or State Govt. for social-economic development, relief and rehabilitation of persons affected by natural calamities, funds for the welfare of Schedule Caste and Schedule Tribes and other backward classes, minority, and women.
- Promotion and Financing of any other activities to be advised by the Govt. or approved by the Board from time to time.
- Promote eligible Trusts and Societies and/or encourage eligible trusts and societies or other implementing agencies, registered under section 8 of Companies Act, who are engaged in promoting the above objectives solely with our company or jointly with any other companies.
THE COMPOSITION OF THE CSR COMMITTEE:
The Chairperson & members of the committee are as follows:
|Sl No.||Name of Director||Designation||Chairman/Member|
|1||Mr. Sushil Kumar Jain||Chairman & Managing Director||Chairman|
|2||Mr. Saurabh Agarwal||Director||Member|