The Company recognizes and is always committed towards sustainable development and inclusive growth. We strive to ensure strong corporate culture which emphasizes on integrating CSR values with business objectives. We also pursue initiatives related to quality management, environment preservation and social awareness.
The policy pertains to all activities undertaken by the Company towards fulfilling its corporate social responsibility objectives. The policy also ensures compliance with section 135 of the Companies Act, 2013, Schedule VII of the Companies Act, 2013 and the rules made there under & lt ;
This Policy shall be in line with Section 135 of the Companies Act 2013, Companies (Corporate Social Responsibility Policy) Rules, 2014 and such other rules, regulations, circulars, and notifications (collectively referred hereinafter as ‘Regulations’) as may be applicable and as amended/notified from time to time and will, inter-alia, provide for the following:
• Establishing a guideline for compliance with the provisions of the Regulations to dedicate a percentage of Company’s profits for CSR activities.
• Ensuring the implementation of CSR initiatives in letter and spirit through appropriate procedures and reporting.
• Creating opportunities for employees to participate in socially responsible initiatives.
The Policy recognizes that corporate social responsibility is not merely compliance; it is a commitment to support initiatives that measurably improve the lives of underprivileged by one or more of the following focus areas as notified under Schedule VII of Section 135 of the Companies Act 2013 and Companies (Corporate Social Responsibility Policy) Rules 2014:
I.Eradicating hunger, poverty and malnutrition, promoting health care including preventinve health care and sanitation including contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water;
II.Promoting education, including special education & employment enhancing vocation skills especially among children, women, elderly & the differently-abled & livelihood enhancement projects;
III.Promoting gender equality, empowering women, setting up homes & hostels for women & orphans, setting up old age homes, day care centers & such other facilities for senior citizens & measures for reducing inequalities faced by socially & economically backward groups;
IV.Ensuring environmental sustainability, ecological balance, protection of flora & fauna, animal welfare, aggro-forestry, conservation of natural resources & maintaining quality of soil, air & water including contribution to the Clean Ganga fund set up by the central government for rejuvenation of river Ganga.
V.Protection of national heritage, art & culture including restoration of buildings & sites of historical importance & works of art; setting up public libraries; promotion & development of traditional arts & handicrafts;
VI.Measures for the benefit of armed forces veterans, war widows & their dependents, Central Armed Police Forces (CAPF) and Central Para Military Forces (CPMF) veterans, and their dependents including widows;
VII.Training to promote rural sports, nationally recognized sports, Paralympic sports & Olympic sports;
VIII.Contribution to the Prime Minister’s National Relief Fund or Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) or any other fund set up by the Central Government for socio-economic development & relief & welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities & women;
IX.(A) Contribution to incubators or research and development projects in the field of science, technology, engineering and medicine, funded by the Central Government or State Government or Public Sector Undertaking or any agency of the Central Government or State Government; and
IX.(B) Contributions to public funded Universities; Indian Institute of Technology (IITs); National Laboratories and autonomous bodies established under Department of Atomic Energy (DAE); Department of Biotechnology (DBT); Department of Science and Technology (DST); Department of Pharmaceuticals; Ministry of Ayurveda, Yoga and Nephropathy, Unani, Siddha and Homeopathy (AYUSH); Ministry of Electronics and Information Technology and other bodies, namely Defense Research and Development Organization (DRDO); Indian Council of Agricultural Research (ICAR); Indian Council of Medical Research (ICMR) and Council of Scientific and Industrial Research (CSIR), engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs);
X.Rural development projects
XI.Slum area Developments Explanation.- For the purposes of this item, the term `slum area’ shall mean any area declared as such by the Central Government or any State Government or any other competent authority under any law for the time being in force.
XII.disaster management, including relief, rehabilitation and reconstruction activities
Our Company Undertakes CSR activities as projects, programs or activities (either new or ongoing) as per schedule VII of Companies Act, 2013 excluding activities undertaken in pursuance of the normal course of business of the Company.
In the Spirit of the Provisions of the Companies Act, Preference is being given to the local area and the Surrounding Areas, for spending the amount earmarked for Corporate Social Responsibility. However, the Committee may identify such areas other than stated above, and make recommendation to the Board for consideration.
• CSR Committee:
In compliance with the provisions of section 135 of the Act, a CSR Committee has been constituted by the Board. CSR Committee at all times share comprises a minimum of 3 directors. Constitution of the CSR Committee can be changed by the Board from time to time.
• Frequency of Meetings:
The Committee will meet as and when required.
•Invitees:
CSR Committee may at its discretion invite Associates/others, to attend and participate at the meeting.
•Resolutions:
All decisions shall be taken by simple majority. In case of equality of votes on any matter, Chairman shall have a casting vote. The CSR Committee can also pass the resolution by circulation.
Minutes of the proceedings and resolutions of the CSR Committee meetings shall be signed and confirmed by the Chairman of the meeting. Minutes so signed and confirmed shall be conclusive evidence of such proceedings and resolutions. Minutes of all Committee meetings will be open for inspection at any reasonable time on reasonable notice by any member of the Board of Directors of the Company.
| S.No | Names of the Members | Chairman / Member |
|---|---|---|
| 1 | Sh. Brij Mohan Mittal | Chairman |
| 2 | Sh. Paresh Mittal | Member |
| 3 | Sh. Nitin Mittal | Member |
Budget for expenditure to be incurred on the focused activities to be covered, to achieve the aforesaid goal, would be decided by the CSR Committee from time to time.
• While all the CSR programs are focused in India, the company shall give preference to the local areas near its registered office and it’s Corporate Office.
• The projects or programs shall not be undertaken in pursuance and part of the normal course of business.
• The activities shall not include activities exclusively for the benefit of its employees and their family members and shall rather be for the benefit of public at large.
The Board of Directors of the Company may decide to undertake CSR activities approved by the CSR Committee, through a registered trust or a registered society or a company established by the Company or its holding or subsidiary or associate company under section 8 of the Companies Act 2013 or otherwise. Provide that:
• If such trust, society or company is not established by the Company or its holding or subsidiary or associate company, it shall have an established track record of 3 (three) years in undertaking similar programs or projects;
• the Company has specified the project or programs to be undertaken through these entities, the modalities of utilization of funds on such projects and programs and the monitoring and reporting mechanism.
Role of CSR committee would as per the terms of reference decided by the Board and inter alia to perform the following functions:,
• Formulate and recommend to the Board, a Corporate Social Responsibility Policy which shall indicate the CSR activities to be undertaken by the company.
• To give preference to the local areas in its CSR Activities.
• Recommend the amount of expenditure to be incurred on the each activity.
• Fix the time schedule to complete the each CSR Activity.
• Any other activity (ies) functions as may be assigned by the Board from time to time.
The CSR committee shall have power to constitute such sub-committees as it may deem appropriate for the following:
• Implementation of the projects as may be approved or recommended by the CSR Committee.
• To monitor the CSR projects/ programmes.
CSR Policy would be subject to revision/ amendment by the Board of Directors of the Company based on the recommendations of the CSR Committee or else in accordance with the guideline on the subject as may be issued, from time to time.
The company shall report about its CSR activities along with its annual report. The information is also available on company website.
This policy is framed pursuant to the provisions of the Companies Act 2013 and rules there under. In case of any subsequent changes in the provisions of the Companies Act 2013 or any other regulations which makes any of the provisions in the policy inconsistent with the Act or regulations, then the provisions of the Act or regulations would prevail over the policy and the provisions in the policy would be modified in due course to make it consistent with law.,/p>
This policy shall be reviewed by the CSR Committee as and when any changes are to be incorporated in the policy due to change in regulations or as may be felt appropriate by the Committee. Any changes or modification on the policy as recommended by the Committee would be given for approval of the Board of Directors.