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