The Corporate Social Responsibility Policy (CSR Policy) of the Company, which was formulated and recommended by the CSR Committee, was approved by the Board of Directors of the Company at its Meeting held on 26th March,2021.
The CSR Policy of the Company is operative within the overall ambit of CSR provisions in the Companies Act 2013, Companies (Corporate Social Responsibility Policy) Rules, 2014 & Schedule VII to the Companies Act 2013 and amendments thereof from time to time.
The expenditure on account of CSR shall be made with a view to build goodwill of the Company and to be a part of National programme, no matter how minuscule the same may be.
As per the CSR Policy, the Company would undertake CSR activities primarily in the geographical areas where it has business activities and interest viz.:
a) Purba Midnapore District of West, Bengal
b) Thiruvallur District of Tamil Nadu
c) Kolkata and South & North 24 parganas
d) Tehsil – Vikas Nagar, Deharun, Uttar Khand
e) All Plants where company is having O&M Contracts (Presently at Bathinda, Banka, Goindwal and Baitalpur)
f) All the locations of the company where company is entering into packed marketing business.
In addition, the Company may contribute or be a part of projects/ schemes of national importance.
The following CSR initiatives are adopted as CSR focal points of the Company:
(i) Eradicating hunger, poverty and malnutrition, ‘‘promoting health care including preventive health care’’ and sanitation.
(ii) Promoting 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, 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.
(v) 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 govt.
(vi) Rural development projects
(vii) Slum area development.
(viii) Disaster management, including relief, rehabilitation and reconstruction activities.
(ix) Any other CSR activity as recommended by the CSR committee and approved by the Board.
The CSR Policy has stipulated the procedure for selection of the CSR proposals to be initiated and obtaining in principle approval which inter alia include putting forward of the detailed proposals to CEO every year by the in-charge of the aforesaid identified geographical areas. Such proposals are to be examined by a committee constituted by the CEO and be recommended through proper channel for obtaining in-principle approval from the committee. Projects are to be chosen carefully after base-line study with the ultimate objective of the benefit of the society involving one-time expenditure and thereby enhancing the goodwill of the Company.
CEO will nominate Officer (s) to execute, monitor and report the progress of the projects approved by Board.
CEO is empowered to spend up to Rs.10 lakh per project and the CSR Committee is empowered to spend up to Rs.50 lakh per project on CSR projects / scheme within the purview of Schedule VII of the Companies Act 2013. Projects /scheme exceeding Rs.50 lakhs are to be approved by Board on recommendation of CSR Committee. Surplus arising out of CSR projects or programme or activity shall not form part of the business profit of the Company.
The CSR activities will be undertaken by the company itself or through–
(a) A company established under section 8 of the Act or a registered public trust or a registered society, registered under section 12A and 80G of the Income Tax Act, 1961 (43 of 1961), established by the company, either singly or along with any other company
(b) A company established under section 8 of the Act or a registered trust or a registered society, established by the Central Government or State Government; or
(c) Any entity established under an Act of Parliament or a State legislature; or
(d) A company established under section 8 of the Act, or a registered public trust or a registered society, registered under section 12A and 80G of the Income Tax Act, 1961, and having an established track record of at least three years in undertaking similar activities.
In case of CSR activities done by any entity, it is to be ensured that they are registered with the Central Government by filing the form CSR-I and have submitted CSR Registration Number