GUJARAT SIDHEE CEMENT LIMITED
CORPORTATE SOCIAL RESPONSIBILITY POLICY DOCUMENT A) CONCEPT This policy document has been framed in accordance with Section 135 and other applicable provisions of the Companies Act, 2013 (the Act). Our emphasis will be on assisting groups belonging to the weaker and downtrodden sections of society by providing avenues for improvement of their economic condition. Non-fund based activities will involve voluntary participation of our employees in community activities which contribute to the communal good, e.g. blood donation camps, health camps, participation in local festivals, literacy, tree planting etc. B) CORPORATE PHILOSOPHY
C) CSR COMMITTEE: CSR Committee will be a board level Committee known as Corporate Social Responsibility Committee. The constitution of CSR Committee is in accordance with the applicable provision of the Act and comprise of following members:
i. Executive Vice Chairman ii. Managing Director iii. Chief Financial Officer iv. Any One Independent Director The composition of CSR Committee may be changed by the Board of Directors of GSCL. The Committee may invite other employees and may also use honorary services of external experts who have proven credentials in the field of community services. The Committee shall formulate the CSR policy, recommend the amount of expenses to be incurred in each CSR activity / project / programme and monitor CSR Policy on an annual basis. The CSR Committee will put up an annual report to the Board of GSCL outlining the CSR activities and details of monetary contributions. CSR activities will be subject to internal audit as deem fit by the Audit Committee of the Board.
D) MONETARY CONTRIBUTIONS
In every financial year, in which GSCL has a net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more it is required to spend at least two per cent of the average net profits (calculated in terms of the applicable provision of the companies Act 2013) made during the three immediately preceding financial years towards CSR activities in accordance with the Policy. The GSCL shall not carry forward the unutilized amount of the permissible limit of any year for its subsequent years. . If GSCL fails to spend the amount as specify above in any financial year, the reason for not spending the same has to be given in the Directors report. E) GUIDELINES FOR MONETARY CONTRIBUTIONS GSCL can grant donations to registered trust / Society or a Company established by the Company or GSCL’s holding or subsidiary or associate company under section 8 of the Act or by such institutions as mentioned in the Act for implementing socially oriented projects. F) ELIGIBILITY CRITERIA FOR INSTITUTIONS
G) PURPOSE OF CONTRIBUTION
a) Contribution towards CSR activity may, however, be granted on extremely selective basis and only to highly reputed institutions. b) Contribution should be given for a specific activity/ purpose rather than a general donation to discourage utilization of such funds at the discretion of the donee institution. c) Any contribution for meeting recurring expenses should be discouraged. d) CSR Activity shall cover following areas:
(i) Eradicating hunger, poverty and malnutrition, promoting preventive health care 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) Promotion education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects; (iii) Promoting gender equality and 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; (iv) 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 including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga. (v) Protection of national heritage, art and culture including restoration of building and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional arts and handicrafts; vi) Measures for the benefit of armed forces veterans, war widows and their dependents; vii) Training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sports; viii) 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; ix) Contribution or funds provided to technology incubators located within academic institutions which are approved by the Central Government; x) Rural development projects.
e) Contribution can be considered for motivating and ensuring involvement of masses for social upliftment and beneficial/ developmental activities by utilizing services of eminent figures/prominent personalities for lectures, tours etc. f) Any requests for high value donations will be considered carefully and on a very selective basis and granted only to highly reputed organizations/ institutions with proven track record. g) Preference shall be given to the local area and area around the registered office of the GSCL, for spending the amount earmarked for CSR activities. h) The CSR activities undertaken in India only shall amount to CSR expenditure. i) CSR activities that benefit only the employees of the GSCL and their families shall not be considered as CSR activities. j) Such other activities as are provided under Schedule VII of the Companies Act 2013 as amended from time to time. H) EMPLOYEES VOLUNTARY SERVICES As part of community services, the GSCL may undertake some welfare activities and programmes, which have a high social content through its offices by way of voluntary efforts of the staff members. These activities will showcase the GSCLs concern to the societal needs/ welfare and promote a sense of belongingness among the employees. Some of such activities/ programmes are: ü Blood donation camps ü Medical camps ü Tree Planting camps ü Family planning ü AIDS awareness camps ü Adult literacy classes ü Tree planting camps ü Special programmes for children and ü Other educational and cultural activities. These activities can be organized at corporate office or branches to make the observance of certain events for the welfare of underprivileged sections of the society. When these voluntary service activities are held, reasonable expenses may be incurred in carrying out such activities as per the discretionary powers vested at various levels under the Scheme of Delegation of Financial Powers. I) ACCOUNTING AND REPORTING a) A detailed account of all expenditure including contribution to corpus for projects or programs relating to CSR activities approved by the Board on the recommendation of CSR Committee and as per CSR policy is to be presented to the Committee on a half yearly basis. The management will also present a report on the utilization of donations sanctioned, and the publicity measures undertaken for all CSR related activities during the half year ended September and March every year. b) Any Surplus arising out of CSR projects /programs / activities shall not form part of the business profit. c) Directors’ report shall include on an annual basis CSR report in the prescribed format. d) Contents of CSR policy shall be disclosed in the Board Report and the same shall be displayed on the GSCL’s website.
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