With the passage of the Companies Act 2013, the mandate for corporate service responsibility has been formally introduced to the dash Board of the Indian Companies. The CSR mandate is an attempt to supplement the Govt. efforts of equitably delivering the benefits of the growth and to engage the corporate world with the Country’s development agenda.
As per the Companies Act 2013 and rules made under clause 135 the CSR “ means and includes but is not limited to (i) Projects and programmes relating to activities specified in schedule VII to the Act or (ii) Projects and programmes relating to activities under taken by Board of Directors of the Company in pursuance of recommendations of the CSR Committee of the Board as per the declared CSR policy of the Company subject to the condition that such policy will cover subjects enumerated in schedule VII of the Act”
The objectives of the CSR policy is to promote socio economic development in rural areas, improve education, eradicate extreme hunger and poverty, promote gender equality and empowering women, reducing child mortality and improving maternal health, health care and sanitization, ensuring environmental sustainability, employment enhancing vocational skills, social business projects, promoting and protecting natural heritage and culture and such other matters of common good.
Contribution to the Prime Minister’s National Relief Fund or any other fund set up by the Central Government or State Government for socio-economic development, relief and rehabilitation of persons affected by natural calamities, funds for the welfare of Scheduled Caste and Schedule Tribes and other backward classes, minority and women.
Promotion and Financing any other activities to be advised by the Government or approved by the Board from time to time.
Promote eligible Trusts and Societies and/or encourage eligible trusts and societies or other implementing agencies, registered under section 8 of the Companies Act, who are engaged in promoting the above objectives solely with our company or jointly with any other companies.