CSR Policy
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Corporate Social Responsibility Policy
Preface
IndusViva is committed to improve the lives of the society in which it operates...
We understand that there is a need to strike a balance between the overall objectives...
Though, the Companies Act, 2013 has formally introduced the Corporate Social Responsibility...
Legal framework of CSR is an edge to Corporate Charitable/reformative approach...
The management of IndusViva expresses its willingness and support to the CSR concept...
Objective
The objective of the policy is to actively contribute to the social, environmental and economic development...
Definitions
The terms defined in this CSR Policy shall have the meanings herein specified...
- “Act” means the Companies Act, 2013...
- “Associate Company” in relation to another company...
- “Average Net Profit” means profit calculated as per Section 198...
- “Board” means the Board of Directors...
- “Company” means INDUSVIVA HEALTHSCIENCES PRIVATE LIMITED
- “CSR” means Corporate Social Responsibility
- “CSR activities” means the activities or projects...
- “CSR Committee” means the Committee of the Board constituted under section 135...
- “CSR Policy” means the Corporate Social Responsibility Policy...
- “Independent Director” means a non-executive director...
- “Net profit” means the net profit of the Company...
- “Subsidiary Company” means a Company within the meaning...
Explanation: Significant influence means...
Governance Structure
The company has constituted a CSR committee consisting of 2 (Two) Directors...
- Mr. Kuruvila Chacko, Chairman & Member
- Mr. Mandalaneni Subramanyam, Member
The Board of Directors of the Company may re-constitute the Committee...
The Committee shall exercise powers and perform the functions assigned...
The responsibilities of the CSR committee further include:
- Drafting of the CSR policy...
- Review and recommend new CSR initiatives...
- Review the progress of CSR projects...
- Review and recommend the CSR report...
- Recommend amendments to the CSR policy...
- Other delegated CSR responsibilities...
- Recommend expenditure: at least 2% of average net profits...
Any other executive of the company associated with CSR will report to the committee...
CSR Activities
- The Company shall undertake the activities as recommended by the CSR committee...
- Eradicating hunger, poverty and malnutrition...
- Promoting education, vocational skills...
- Promoting gender equality, empowering women...
- Ensuring environmental sustainability...
- Protection of national heritage, art and culture...
- Measures for armed forces veterans and dependents...
- Promoting rural/Olympic/Paralympic sports...
- Contribution to PM’s Relief Fund or other funds...
- Support for tech incubators in academic institutions...
- Rural development projects
- CSR activities shall exclude those in normal course of business.
- CSR projects shall be within India only.
- Benefits should not be restricted only to company employees.
- No contributions to political parties will be considered CSR.
- CSR admin cost capped at 5% of total CSR expenditure.
Any surplus from CSR projects will not be treated as company profit.
CSR Expenditure
- Minimum 2% of average net profits for last 3 years to be spent on CSR.
- CSR Committee will recommend project-wise budget to the Board.
- Only Board-approved projects under Schedule VII are considered CSR expenditure.
Modalities Of Execution And Implementation
The Board may implement CSR activities via:
- The Company itself; or
- A registered trust/society/company (Section 8 or otherwise) if:
- It has a 3-year track record in similar activities;
- Company specifies project, funding & monitoring plan;
- In collaboration with other companies (provided reports are filed separately).
Monitoring The CSR Policy
The CSR Committee will periodically monitor the progress of projects and report to the Board...
The Board will review CSR implementation reports and provide suggestions for better impact.
Reporting
The Board’s report must include:
- CSR policy outline & web link
- CSR committee composition
- Average net profit for last 3 years
- Prescribed 2% CSR expenditure
- Actual CSR spent & reasons for underspending
- CSR Committee’s responsibility statement
Management Commitment
The entire management and staff of IndusViva support the philosophy of compassionate care and inclusive development.
This CSR policy complies with the Companies Act, 2013 and all its amendments.
Conclusion
- CSR Policy is subject to change based on Government guidelines.
- Board may review policy based on feedback or changes in beneficiary needs.
Viva Tower, No.36,
For IndusViva HealthSciences Private Limited
SD/
Mr. Kuruvila Chacko,
Chairman & Member (CSR Committee)
07118634