CSR Policy Of Eminence Equipments Private Limited
Title and Applicability
The policy is effective from 01St April-15
The Board of Directors of Eminence Equipments Private Limited, after taking in to account recommendations of the CSR Committee have approved the CSR policy in accordance with section 135 of the Companies Act 2013 and the rules made there under.
Applicability
The policy shall be applicable to all the CSR activities taken up at various plants/business locations, to include liaison offices, Marketing offices and depots of Trident International Private Limited.
Definition
- Act – Companies act-2013, as amended from time to time.
- CSR – means Corporate Social Responsibility.
- CSR Policy – means the policy approved by the Board of Directors as per recommendation of CSR committee.
- Net Profit – means the profit of the company as per financial statement prepared in accordance of applicable provision of acts i.e. section 198.
CSR Vision
Eminence Equipments Private Limited through its services, conducts and initiatives promotes sustained growth for the society and community, in fulfilment of its role as a socially Responsible Corporate Citizen with utmost environmental concern.
CSR Mission
Corporate Social Responsibility is not considered only as a legal formality to be completed but has been considered as philosophy of the management. Increased Commitment at all the levels in the organisation, to operate its business economically, socially & environmentally sustainable manner.
CSR Objectives
The Company is carrying business of selling, purchasing and providing services in different types of industrial equipments & engineering products considers social responsibility of working towards upliftment of health and education community in India.
- The Company will undertake projects for upliftment of Eradicating hunger, poverty and malnutrition which includes promoting health care including preventive health care and sanitation.
- The Company will undertake projects for promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects and social projects for welfare of the community.
Validity of CSR Policy
The board may amend the CSR Policy as may be required from time to time.
CSR Programme Areas
The following broad categories for CSR activities have been in general planned for next 3 to 5 years:
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Sr. No.
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Broad Categories
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Activities
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|---|---|---|
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1
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Promoting health care including preventive health care. The Company is planning to start the project with the clear intention of upliftment and wellness of community.
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The Company is planning to start the project with the clear intention of upliftment and wellness of community.
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2
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Promoting education
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The Company has identified the areas to upgrade, enhance and upliftment of education to the society, especially amongst needy children.
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3
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Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources and maintaining quality of soil, air and water
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The Company is willing to undertaking certain community development programmes if required.
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4
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Donation
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The company can contribute to the Prime Minister’s National Relief fund or any fund set up by the Central Government for the Socio Economic development and relief & welfare of the Schedule castes, the schedule tribes, other backward classes, minorities and women
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However while selecting the Projects due care will be exercised to undertake projects which will fall under any of the activities listed under schedule VII read with section 135(4) of the Companies Act 2013.
While harmonising the objectives and the projects undertaken pursuant thereto due regard shall be given to their judicial interpretation as laid down by Judicial Forums. This shall be one of the guiding factors.
Composition of CSR Committee of the Board
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Sr. No.
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Name of Committee Members
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Designation
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|---|---|---|
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1
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Mr. Makarand Sajjan Savagaonkar
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Chairman
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2
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Mr. Siddharth Navinchandra Kokate
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Memner
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3
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Mrs. Leena Makarand Savagaonkar
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Memner
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Roles and Responsibilities of the CSR Committee
The role of the CSR Committee is to institute a transparent monitoring mechanism for implementation of the CSR projects or programs or activities undertaken by the Company.
Some of their responsibilities are as mentioned below:
- Formulate and recommend to the Board for approval, a CSR Policy which shall indicate the activities to be undertaken by the Company as Specified in Schedule VII to the Section 135 of the Companies Act, 2013.
- Recommend the amount of eligible expenditure to be incurred on the activities referred in the point above for approval by the board.
- Monitoring the implementation and impact, as also the policy from time to time complying with the legal requirements.
- The CSR Committee shall ensure that the surplus (if any) arising out of the CSR activities shall not form part of the business profits of the Company.
- Ensure that the activities that have been included in the CSR Policy are broadly undertaken by the Company.
- Reporting to the Board from time to time coinciding with scheduled Board Meetings about activities pursued and amount spent.
- Any other activity as may be mandated by the Board.
The Board in turn has some responsibilities towards CSR as follows:
- After taking into account the recommendations made by the CSR Committee, the Board will approve the CSR policy and disclose the contents of the same in the Annual Report and also place the policy on the Company’s website where it is visible to everyone.
- To ensure that the activities that have been included in the CSR Policy are undertaken by the Company.
- Upon recommendations of the CSR Committee, to approve spending of such amounts as may be deemed expedient on one or more projects outlined above.
- To ensure that the Company spends in every financial year at least 2% of the average net profits of the Company made during the 3 immediately preceding financial years, in pursuance of the CSR policy.
- To give reasons if the allocated amount is not spent in the respective financial year.
- To carry forward any unspent funds to the CSR Corpus.
Partnerships
To complete the activities/ projects planned under CSR Policy in the best way possible and to achieve the CSR Goals. Company may partner with the different NGOs, Trusts, Societies or other organisations with an established track record of at least three years.
Monitoring Process
The proposed CSR activities have been recommended by the CSR Committee and accepted by the Board of Directors of the Company. Apart from the above mentioned process, all the projects recommended above would be monitored by the CSR Committee from the perspective of achieving time frames and assessing social impact. The management of the Company would also ensure accountability for the funds invested in the NGO’s project through continuous monitoring of the projects undertaken.
The CSR Committee shall work closely with the in house team and convene periodic meetings to monitor both the process and progress. The CS committee will in turn keep the Board informed.
Review Mechanism
The review mechanism would be quarterly.
Reporting
The Company’s Annual Report would include the annual report on CSR as per the particulars specified under the CSR Rules.
The report shall include a responsibility statement of the CSR Committee that the implementation and monitoring of the CSR Policy is in compliance with CSR Objectives and the policy of the Company.
The Annual Report on CSR Activities shall be signed by the CEO or the chairman of the CSR Committee.
Amendments to the policy
Any Amendment of any provision of this policy must be approved in writing by the Company’s Board as per the recommendations of the CSR Committee and promptly disclosed on the Company’s Website and in all applicable laws and regulations together with details about the nature of amendment.
For and behalf of the Board of Directors
EMINENCE EQUIPMENTS PRIVATE LIMITED
Siddharth N. Kokate (Director)
DIN: 00406679
Leena M. Savagaonkar (Director)
DIN: 00773569
Place: Pune
