This policy comprises a set of rules adopted by the board of directors of M/s. Vasudha Pharma Chem Limited (“the company”) which applies throughout the company to all directors, officers and employees. These rules set the standards for the way we interact with society at large and the environment around us. They may be supplemented from time to time by additional policy statements and guidelines.
This policy clearly sets forth the company’s social responsibility objectives and provides guidance on implementation of the policies set forth.
BACKGROUND OF THE POLICY
The corporate social responsibility policy is formulated in compliance with the applicable provisions of the companies act 2013 and the rules made thereunder. Section 135 of the companies act 2013 and rules made thereunder, enumerate the constitution of the Corporate Social Responsibility (CSR) Committee and implementation of the CSR policy.
COMPOSITION OF CSR COMMITTEE
The CSR Committee shall comprise of the following directors :
- Sri. M.V. Rama Raju - Managing Director of the company
- Sri. M.A.S Raju
- Sri. M.Anand
- Sri. K.Venkat Raju, Directors of the company does constitute corporate social responsibility committee of the board.
MEETINGS : The committee shall hold meeting as and when required, to discuss various issues on implementation of the CSR policy of the company. The members would thrive to hold atleast four meetings in a financial year.
QUORUM : The quorum for a meeting of the committee on CSR shall be one-third of its total strength (any fraction contained in that one-third being rounded off as one) or two members, whichever is higher.
SITTING FEE : The sitting fees for attending the meeting shall be determined from time to time by the board of directors.
THE CSR COMMITTEE WOULD BE RESPONSIBLE
- To formulate and recommend to the Board, a CSR policy which shall indicate the activities to be undertaken by the company as per the companies act, 2013;
- To review and recommend the amount of expenditure to be incurred on the activities to be undertaken by the company;
- To monitor the CSR policy of the company from time to time;
- Shall have full access to the information contained in the company’s records and to seek information from any employee, as also to obtain such legal and professional advice as it may consider necessary.
- Any other matter as the CSR committee may deem appropriate after approval of the board of directors or as may be directed by the board of directors from time to time.
ACTIVITIES ENUMERATED UNDER SCHEDULE VII OF COMPANIES ACT 2013 AND RULES MADE THERE UNDER, IN REFERENCE TO SECTION 135 OF COMPANIES ACT 2013 :
- Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation and making available safe drinking water.
- Promoting education, including special education and employment enhancing vocational skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects.
- Promoting gender equality, Empowering women, setting up homes and hostels for women and orphans; setting up old age homes, Day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups.
- Ensuring environmental sustainability, Ecological balance, Protection of flora and fauna, Animal welfare, Agroforestry, conservation of natural resources and maintaining quality of soil, air and water.
- Protection of National heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional arts and handicrafts.
- Measures for the benefit of armed forces veterans, war widows and their dependents.
- Training to promote rural sports, nationally recognized sports, paralympic sports and olympic sports.
- Contribution to the Prime Minister's national relief fund or any other fund set up by the central government for socio-economic development and relief and welfare of the scheduled castes, the scheduled tribes, other backward classes, minorities and women.
- Contributions or funds provided to technology incubators located within academic institutions which are approved by the central government.
- Rural development projects.
CORPORATE SOCIAL RESPONSIBILITY ACTIVITIES UNDERTAKEN BY THE COMPANY:
The Company has identified the following causes from a CSR perspective:
- Providing of Water treatment plants to government schools, remote villages and primary health centres for providing clean and safe drinking water.
- Donations to charitable Institutions engaged in imparting education to poor students, located in backward areas, forest areas, slums.
- Donations to charitable Institutions engaged in imparting education to poor orphan girls, situated various places.
- Donations to charitable trusts engaged in serving poor patients suffering from various diseases.
- Donations to social service organizations engaged in serving senior citizens, specially challenged persons, orphanages etc.
MONITORING PROCESS OF THE ACTIVITIES UNDERTAKEN
The company has developed appropriate reports to monitor the CSR activities conducted by the company. The surplus arising out of the CSR activities undertaken shall not form part of the business profit of the company.
In case of any doubt with regard to any provision of the policy and also in respect of matters not covered herein, a reference to be made to CSR committee. In all such matters, the interpretation & decision of the committee shall be final. Any or all provisions of the CSR Policy would be subject to revision/amendment in accordance with the guidelines on the subject as may be issued from government, from time to time. The CSR committee reserves the right to modify, add, or amend any of provisions of this policy subject to the approval of the board.