CSR Policy - Corporate Social Responsibility Policy
- I. CSR POLICY Shree Venkatesh Buildcon Private Limited (hereinafter referred as 'the Company') strives for the betterment of the society in all spheres and believes that Corporate Social Responsibility ('CSR') extends beyond the ambit of the business and focuses on human, environmental and social assets.
- II. VISION STATEMENT AND OBJECTIVE
1. The CSR Policy sets out the company’s commitment towards ensuring that our activities extend beyond business and include initiatives and endeavours for the benefit and development of the community and society. The CSR Policy lays down guidelines for undertaking programmes geared towards social welfare activities or initiatives.
2. In alignment with the above vision, the company, through the CSR Activities, will endeavor to enhance value creation in the society and in the community, through its services, conduct and initiatives, so as to promote sustained growth for the society and community, in fulfilment of its role as a socially responsible corporate.
3. This CSR Policy has been framed in accordance with the applicable provisions of the Companies Act 2013 and the rules issued thereunder.
4. The objective of this CSR Policy is to:
This Policy shall be read in line with Section 135 of the Companies Act 2013, Companies (Corporate Social Responsibility Policy) Rules, 2014 and such other rules, regulations, circulars, and notifications (collectively referred hereinafter as ‘Regulations’) as may be applicable and as amended from time to time and will, inter-alia, provide for the following:
(i) Establishing a guideline for compliance with the provisions of Regulations to dedicate a percentage of Company’s profits for social projects;
(ii) Making associations with reputed trusts and foundations for directly or indirectly taking up programs that benefit the communities, over a period of time, in enhancing the quality of life, Education and economic well-being of the society; and
(iii) Creating opportunities for employees to participate in socially responsible initiatives.
- III. CSR COMMITTEE
- 1. The CSR Committee has been constituted in accordance with the provisions of the Act comprising of the 3 (three) Directors. The CSR Committee may invite other experts/ invitees as per its requirements.
Composition of CSR Committee:
1. Ankush Asabe (Director)
2. Lahuraj Asabe (Director)
3. Amit Modgi (Director)
- 2. The Board would approve and adopt any changes in this CSR Policy subject to prevailing provisions of laws in this regard. The CSR Committee is responsible for decision making with respect to the CSR Policy. The CSR Committee will meet as and when they deem necessary for carrying out its objectives.
- IV. PROJECTS, PROGRAMS AND ACTIVITIES
The Company proposes to implement its CSR activities in the following areas as per Schedule VII of the Companies Act, 2013:
- 1. Eradicating hunger, poverty and malnutrition and promoting preventive health and better health care facilities in the society;
- 2. Promotion of education and education facilities in the society including special education and employment enhancing vocation skills among children, women, elderly, and the differently-abled and livelihood enhancement projects;
- 3. Promoting gender equality, empowerment of Women and setting up homes for women and orphans;
- 4. Ensuring environmental sustainability, ecological balance and animal welfare;
- 5. Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government;
- 6. Rural development projects;
- 7. Contribution to the Prime Minister‘s National relief fund or any other fund set up by the Central Government;
- 8. Any other activity as covered under Schedule VII of the Companies Act, 2013, as amended from time to time.
Above activities will be taken up by the company itself or with association of reputed trusts, Societies and foundations as finalised by the board.
- V. CSR EXPENDITURE
The Board shall ensure that a minimum of two percent of the average net profits of the Company of the last three years is spent on the CSR programs / activities of the Company as per provisions and regulations of the Companies Act, 2013.
- VI. MONITORING OF THE CSR ACTIVITIES AND REPORTING
The CSR Committee will recommend to the Board the amount of expenditure to be incurred on CSR programs / activities; monitor the CSR Policy of the Company; and review its implementation by the Company.
The Company will report on the progress of its CSR initiatives in its annual report.
- VII. GENERAL
- 1. Any surplus arising out of the CSR projects/programs or activities shall not form part of the business profits of the company.
- 2. If it is observed that any CSR Activity taken up for implementation is found not properly implemented, the CSR Committee may, with approval of the Board, may discontinue funding the project at any time during the course of implementation and use such funds for any other project.
- 3. The CSR Committee shall have the power to clarify any doubts or rectify any anomalies that may exist in connection with the effective execution of this CSR Policy.
- VIII. AMENDMENT
The CSR Committee is empowered to amend or modify the CSR Policy and such changes shall be placed before the Board for its approval. The Board may subject to compliance with applicable law, at any time approve or alter, amend or modify the CSR Policy, as it deems fit to comply with the statutory obligation to undertake the CSR Activities.
(as adopted by the board of directors of the company).