CORPORATE SOCIAL RESPONSIBILITY  POLICY

 

 

  1. Policy:

 

In compliance with the provisions of the Companies Act, 2013 and rules framed thereunder, the Company has made this Policy which focuses on addressing critical social, environmental and economic needs of the underprivileged sections of the society. The Company shall adopt an approach that integrates the solutions to these problems as to benefit the communities at large and create social and environmental impact. This policy shall be called the Corporate Social Responsibility Policy (CSR Policy).

 

  1. CSR Mission:

    • Ensuring socio−economic development of the community through need− based initiatives in the interest of the poor and underprivileged sections of the society so as to help them to become self−reliant and build a better tomorrow.

    • Ensuring environmental sustainability through ecological conservation and regeneration, protection & re growth of endangered plant species, and promoting biodiversity.

  2. Governance:

The Company have constituted a transparent governance structure to oversee the implementation of its CSR Policy, in compliance with the requirements of Section 135 of the Companies Act, 2013.

 

  1. CSR Committee:

    1. Composition

  1. The CSR Governance structure will be headed by the Board Level CSR Committee that will be ultimately responsible for the CSR Projects undertaken. The committee will report to the Board of Directors. CSR Committee shall consist of three or more directors out of which at least one director shall be independent director.

 

 

 

 

 

  1. Quorum for the meeting shall be two members and all meeting of the Committee shall be presided by the ChairmanƒChairperson of the Committee appointed by the Board. In the absence of ChairmanƒChairperson, members may choose any one of them to preside over the meeting.

  2. The Composition of CSR Committee shall be disclosed in the Board’s report.

    1. Frequency of meeting

The CSR Committee shall meet as often as its members deem necessary to perform the duties and responsibilities but shall meet at least two times in a financial year.

 

  1. Core Areas

The Company has adopted the following core areas for its CSR initiatives, all of which are activities mentioned under Schedule VII of the Companies Act 2013:

  1. eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water;

  2. promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;

  3. promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups;

 

  1. ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural

 

 

 

resources and maintaining quality of soil, air and water;

  1. 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 and and handicrafts;

  2. measures for the benefit of armed forces veterans, war widows and their dependents;

  3. training to promote rural sports, nationally recognised sports, paralympic sports and Olympic sports;

  4. 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;

  5. contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government; and

  6. rural development projects.

 

 

  1. Implementation Approach

    1. The CSR activities shall be undertaken either directly or through one or more registered trusts or societies with an established track record of three years in undertaking similar programs or projects.

    2. The Company shall specify 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.

    3. Additionally the Company may also collaborate with other entities to implement the Company’s initiatives for undertaking projects or programs or CSR activities in such a manner that the CSR Committees of respective entities are in a position to report separately on such projects

 

 

 

or programs in accordance with the Companies Act, 2013 and rules made there under.

  1. The CSR projects or programs or activities will be undertaken in India only.

  2. Contribution of any amount, directly or indirectly, to any political party shall not be considered as a CSR activity.

  3. The Company shall not undertake any CSR Project or program or activity that benefits only the employees of the Company and their families.

 

  1. CSR Expenditure:

CSR expenditure shall include all expenditure including contribution to corpus, or on projects or programs relating to CSR activities approved by the Board on the recommendation of its CSR Committee, but does not include any expenditure on an item not in conformity or not in line with activities which fall within the purview of Schedule VII of the Act.

 

For achieving its CSR Initiatives and Activities through implementation of meaningful & sustainable CSR programs, the Company will allocate, in every financial year, at least 2% (two per cent) of the average net profit made by the Company during the three immediately preceding financial years or such other amount as may be prescribed by law.

 

  1. Monitoring Mechanism:

The CSR Committee of the Board shall institute a transparent monitoring mechanism for implementation of CSR projects or programs. A time frame shall be fixed for all CSR projectsƒ activities for their timely completion. The CSR Committee shall monitor the project's progress (including Impact assessment! evaluation) directly or through professional institutions ƒ independent research institutions ƒ other outside agencies.

 

 

 

 

The administration of the CSR policy and the execution of identified CSR projects, programs and activities under it shall be carried out under the overall superintendence and guidance of an internal monitoring group formed for this purpose by the Chairman of the Company.

 

The internal monitoring group shall submit its report bi−annually basis to the CSR Committee formed under the Act which shall monitor the CSR Policy of the Company from time to time.

 

  1. Reporting of CSR Initiatives:

The Board of Directors of the Company shall, after taking into account the recommendations of CSR Committee, approve the CSR policy for the Company and disclose content of such policy in its Report and on the Company’s website as per the format prescribed under the Companies (Corporate Social Responsibility Policy) Rules, 2014.

 

  1. Management Commitment:

The Board of Directors, Management and all of the Company’s employees subscribe to the philosophy of compassionate care.

 

  1. Amendment

The Policy may be reviewed and recommended by the CSR Committee for approval of the Board for any revisionƒamendment from time to time.

Copyright - 2021 KTIL. All Rights Reserved