CSR POLICY

PREFACE

In accordance with the provisions of Section 135 of Companies Act, 2013, the Corporate Social Responsibility (CSR) Committee of Sakthi Auto Ancillary Private Limited was constituted by the Board of Directors of the Company at their meeting held on May 2, 2016. The Committee comprises of Sri. S. Jeevanantham, Sri. S. Mohanraj and Sri. Sharath Giri, Directors as its Members.

OBJECTIVE & VISION

  • As per the Companies Act 2013 and the accompanying operational guidelines, the primary objective of Corporate Social Responsibility is the commitment of the company to contribute for sustainable economic development and social welfare like education, health, water, environment and community welfare.
    The company’s CSR philosophy is ‘Do Good to Do Well and Do Well to Do Good’. SAAPL’s vision is to be a responsible industry leader and demonstrate environmental, transparent and ethical behavioral practices which will contribute to the economic and sustainable development within the company, industry, and society at large.

MEETINGS / QUORUM

  • The CSR Committee shall meet at such intervals as the Committee may deem necessary.
    At least two members of the Committee, one of whom shall be an Independent Director, should be present to form a quorum.

CSR ACTIVITIES:

  • The Policy recognizes that corporate social responsibility is not merely compliance; it is a commitment to support initiatives that measurably improve the lives of underprivileged by one or more of the following focus areas as notified under Section 135 of the Companies Act 2013 and Companies (Corporate Social Responsibility Policy) Rules 2014:
  • • Promotion of Education, including special education, educating girl children, and employment enhancing vocation skills. Providing Infrastructure and other support for schools, colleges, Hostels etc., particularly for the differently abled and disadvantaged sections of society;
  • • Eradication of Extreme Hunger, Poverty & malnutrition, promoting preventive health care and sanitation and making available safe drinking water;
  • • Organising Blood donation camps, Immunization programs, Dental & Eye Checkup Camps, Health Check up Camps, AIDs awareness camps and donating medical infrastructure to local hospitals and primary health centers;
  • • Promoting Gender Equality, Empowering Women and measures for reducing inequalities faced by socially and economically backward groups;
  • • Organising / providing basic infrastructure facilities like laying of roads, Road maintenance, Tree plantation programmes, rain water harvesting, Promotion and installation of renewable energy systems, Conservation of natural resources and Undertaking initiatives that aim to reduce recycle and reuse waste in an innovative manner;
  • • Protecting and Preserving National Heritage, Culture and Art;
  • • Welfare measures for Armed Forces Veterans and their Dependents;
  • • Promotion of Sports activities;
  • • Contribution to Central Government Relief and Welfare Funds (as admissible under the Act);
  • • Contribution/Funding to GOI approved Technology Incubators, Contributing to Rural Development Projects and
  • • Such other activities and projects covered in Schedule VII to the Companies Act 2013 from time to time.
  • The activities, which benefit only the employees and their families, shall not be considered as CSR activities.

IMPLEMENTATION


  • The CSR activities shall be undertaken by the Company -
  • a. Either directly or through a registered trust or a registered society or a company under Section 8 of the Companies Act 2013 established by the Company or its holding company or subsidiary company.
  • b. Through trusts, societies or companies not established by the company or its holding company or subsidiary company having established tract record of three years in undertaking similar activities or programs or projects.
  • c. In the event of the Company undertaking its CSR activities through the entities mentioned in (b) above, the Company should specify the activities or project or the programme, the modalities of utilization of funds and the monitoring and reporting mechanism.
  • d. By collaborating with other entities in such manner that the collaborating companies are able to report separately on the project or programme or activities in accordance with the Companies (Corporate Social Responsibility Policy) Rules 2014.
  • By contributing to eligible projects/funds.

BUDGET


  • As set out in the Companies Act, 2013, Sakthi Auto Ancillary Pvt Ltd shall allocate a Budget for CSR initiatives for each financial year equivalent to 2% of its average net profits before tax which shall be reckoned in the manner stipulated in the Act.

MONITORING


  • The CFO / Company Secretary shall submit a Report to the CSR Committee on half yearly basis about the CSR activities undertaken by the Company, the amount spent in respect thereof and the proposal for spending the balance CSR expenditure, if any, to be incurred for complying with the requirements of the Companies Act 2013 and the Rules.
  • The CSR Committee shall review the Report submitted by the CFO/Company Secretary and take such steps as may be necessary for proper implementation of the CSR activities as approved by the Committee.
  • The CSR Committee shall report to the Board of Directors on the status of compliance of CSR policy by the Company.
  • The CSR Policy will be reviewed by the CSR Committee / Board to update the policy based on the regulatory changes from time to time.

CSR REPORTING


  • A Progress Report on the various CSR initiatives taken up by Sakthi Auto Ancillary Pvt Ltd shall be submitted periodically (half - yearly) to the CSR Committee of the Board for their consideration.
  • Details of the CSR activities undertaken by Sakthi Auto Ancillary Pvt Ltd and amounts spent along with reasons for spends below budgeted levels, if any, shall also be reported in Annual Report under Directors’ Report.
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