CORPORATE SOCIAL RESPONSIBILITY POLICY


APPLICABILITY AND EFFECTIVE DATE

This Policy is called “Corporate Social Responsibility Policy” (“Policy”) and will be applicable to the Company from 01st April 2014.

SCOPE

The Company in the initial phase will focus on the following areas for CSR projects from amongst the activities specified under Schedule VII of the Companies Act, 2013 (Act):

i.   Promoting education, including special education and employment enhancing skills especially among children, women and the differently abled and livelihood enhancement projects,

ii. Contributing to funds to technology incubators located within academic institutions which are approved by the Central Government,

iii. Rural development projects,

iv.  Contribution to 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 Tribes, other backward classes, minorities and women,

v.   Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation and making available safe drinking water.


OPERATION OF THE POLICY

The Board of Directors vide point no 9 of Minutes of meeting of the Board of Directors held today have passed resolution constituting a CSR Committee in accordance with the Act and specified terms of reference of the CSR Committee as under :

a. To recommend the nature of CSR activities that could be undertaken by the company as per the provisions of the Companies Act 2013 and the Company’s CSR Policy,

b. To review and recommend the amount of expenditure to be incurred on the activities to be incurred on the activities to be undertaken by the Company,

c. To monitor the CSR Policy of the Company from time to time,

d. Any other matter as directed by the Board of Directors from time to time,

The Board shall, with due attention to Section 135 of the Act for selection of any project, environmental impact, cost, timelines, sustainability, and other relevant factors,

- Consider and approve the policy formulated by the CSR Committee, subject to necessary changes/modifications as the Board may deem fit.

- Monitor effective utilization of funds provided by the Company for CSR activities through appropriate checks and balances.


CSR ACTIVITIES

The CSR activities shall be undertaken by the company, as per its stated CSR Policy, as projects or programs or activities (either new or ongoing), excluding activities undertaken in pursuance of its normal course of business.

The Board of a company may decide to undertake its 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 Act or otherwise provided 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 three years in undertaking similar programs or projects.

The CSR projects or programs or activities that benefit only the employees of the company and their families shall not be considered as CSR activities in accordance with Section 135 of the Act.


Disclaimer

While the company would strive to achieve the objectives of the above policy, the company does not make any personal assurance or any commitment to any individual or group who may be eligible/interested for the benefits under the above policy and the company disclaims any liability, what so ever on the same.