Governance Csr - Test.Evelyn

CORPORATE SOCIAL RESPONSIBILITY POLICY

I. CSR POLICY

This CSR Policy encompasses the philosophy for social responsibilities and lays down the guidelines and mechanism for undertaking projects, programs, and activities toward such responsibilities. Along with sustained economic performance, environmental and social stewardship is also a key factor for holistic business growth.

II. VISION STATEMENT AND OBJECTIVE

The CSR Policy sets out our commitment toward ensuring that our activities extend beyond business and include initiatives and endeavors for the benefit and development of the community and society. The CSR Policy lays down guidelines for undertaking programs geared toward social welfare activities or initiatives. Through this CSR Policy, we propose to adopt the CSR Activities mentioned below.
In alignment with the above vision, the company, to promote sustained growth for the society and community in fulfillment of its role as a socially responsible corporate, will endeavor, through the CSR Activities, to enhance value creation in the society and in the community through its services, conduct, and initiatives.
This CSR Policy has been framed in accordance with the applicable provisions of the Companies Act, 2013 and the rules issued thereunder.
The objective of this CSR Policy is to:
(i) Outline the projects, programs, and activities to be undertaken by the Company
(ii) Specify the modalities of execution of such projects, programs, and activities
(iii) Monitor the process to be followed for such projects, programs, and activities
(iv) Directly or indirectly take up programs that benefit the communities in and around its work centers and result, over a period of time, in enhancing the quality of life and economic well-being of the local populace
(v) Generate community goodwill for the Company and help reinforce a positive and socially responsible image through our CSR Activities

III. RESPONSIBILITY OF THE BOARD OF DIRECTORS:

The responsibility of the Board of Directors shall be as under:

Approve the CSR Policy and disclose the contents of such policy in its report
Ensure that the activities proposed in the CSR Policy are undertaken
Ensure that the company spends, in every financial year, at least 2% of the average net profits made by the company during the 3 immediately preceding financial years, as required under Section 135 of the Companies Act, 2013 and the Rules made thereunder
If the company fails to spend the sum as mentioned above, the Board shall, in its Report, specify the reasons for not spending the amount

IV. CSR COMMITTEE

(a) Constitution of CSR Committee

A Corporate Social Responsibility Committee (“CSR Committee”) has been constituted by the Board of Directors to oversee the CSR agenda of the Company. The committee has been formed as per the requirements of Section 135 of the Companies Act, 2013 and Companies (Corporate Social Responsibility Policy) Rules, 2014

The Board of Directors shall be empowered to take decision for making or effecting changes in the constitution of the CSR Committee.

(b). Responsibilities of the CSR Committee

(i) To formulate and recommend to the Board of Directors a CSR Policy indicating the activities to be undertaken as specified in Schedule VII of the Companies Act, 2013 and modify/amend the same as required

(ii) To review and approve annual budgets with respect to CSR programs

(iii) To develop and institutionalize a CSR reporting mechanism in light with Section 135, Rule 8 of the Companies Act, 2013

(iv) To monitor the CSR Policy, Projects, and Programs from time to time

(c). Meetings of CSR Committee

The CSR Committee shall meet at least once in Three months. The meeting shall be held either at the registered office of the company or any other place, as may be decided by the members.

Physical presence of a minimum of four members of the committee shall constitute the quorum.

(d). Notice of Meeting

At least three days advance notice of every meeting, specifying the day, place and timing of Meeting and the general nature of the business to be transacted there at shall be given to the members. In urgency, a meeting may be convened by shorter notice.

V. AREAS OF CSR ACTIVITIES

The Company is hereby devoted to direct its CSR resources, to a reasonable extent, for improving the quality of life of the people by focusing on the social causes, including but not limited to the following areas:

i. Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation, including contribution to the Swacch Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water;

ii. Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;

iii. 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;

iv. 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, including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga;

v. 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;

vi. Measures for the benefit of armed forces veterans, war widows and their dependents;

vii. Training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sports;

viii. 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, and other backward classes, minorities and women;

ix. Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government;

x. Rural Development Projects; and

xi. Slum area development

xii. Activities related to promotion of road safety as suggested vide General Circular No. 21/2014 dated 18.06.2014 issued by Ministry of Corporate Affairs

EXCLUSIONS:

Following activities shall be excluded from the CSR expenditure:

a). Activities which are exclusively for the benefit of employees of the company or their family members;

b). Activities undertaken in pursuance of normal course of business of the Company;

c). Direct or indirect contribution to political parties;

d). Expenditure on item/s not in conformity with Schedule VII of the Companies Act 2013;

e). Surplus arising out of CSR projects shall not form part of the business profits of Company instead the same will be further used for CSR purposes only.

VI. IMPLEMENTATION MECHANISM

The Company is hereby devoted to direct its CSR resources, to a reasonable extent, for improving the quality of life of the people by focusing on the social causes, including but not limited to the following areas:

i. Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation, including contribution to the Swacch Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water;

ii. Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;

iii. 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;

iv. 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, including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga;

v. 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;

vi. Measures for the benefit of armed forces veterans, war widows and their dependents;

vii. Training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sports;

viii. 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, and other backward classes, minorities and women;

ix. Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government;

x. Rural Development Projects; and

xi. Slum area development

xii. Activities related to promotion of road safety as suggested vide General Circular No. 21/2014 dated 18.06.2014 issued by Ministry of Corporate Affairs

EXCLUSIONS:

Following activities shall be excluded from the CSR expenditure:

a). Activities which are exclusively for the benefit of employees of the company or their family members;

b). Activities undertaken in pursuance of normal course of business of the Company;

c). Direct or indirect contribution to political parties;

d). Expenditure on item/s not in conformity with Schedule VII of the Companies Act 2013;

e). Surplus arising out of CSR projects shall not form part of the business profits of Company instead the same will be further used for CSR purposes only.

VI. IMPLEMENTATION MECHANISM

The company may conduct / implement CSR programs by itself and/or through registered trusts, societies and / or section 8 (previously section 25) companies with an established track record of at least three years in carrying on activities in the related area/s or as suggested by Ministry of Corporate Affairs vide circulars/notifications.

Evelyn Learning Systems Private limited shall undertake the CSR activities under it CSR programmes through registered Trust “The Sacred Tree Foundation” which is registered under Section 12A of the Income Tax Act, 1961. In this Organization, both the Directors of Evelyn Learning System Private Limited are the Trustees. In such case the Company will specify the CSR programmes which will be undertaken by Society in accordance with their objects laid down in Memorandum and Article of Association.

The company may collaborate or pool resources with other companies to undertake CSR activities and any expenditure incurred on such collaborative efforts would qualify for computing the CSR spending.

The progress will be reported to the CSR Committee during the committee meetings. The progress on CSR programs undertaken by the Company will be reported in the Annual Report in the format prescribed by the CSR Rules 2014.

VI. IMPLEMENTATION MECHANISM

The CSR spend by Company for the financial years shall be as per the requirements of the Companies Act 2013. The entities may in compliance with the provisions of the Act and the CSR Rules, including notifications and clarifications issued thereunder received funds from its parent company for the CSR Expenditure.

The Board shall approve the allocation of the CSR Expenditure on the CSR Activities and, to the extent possible, shall give priority to the local areas wherever the company has its operations.

VIII. MONITORING OF CSR PROGRAMS

The CSR team shall be responsible for day to day management of CSR related activities of the company. The CSR team shall periodically report to the CSR committee regarding the financial and programmatic progress of CSR projects.

All projects undertaken by Company shall be monitored on a regular basis. On-site monitoring would also be undertaken at least once a year to ensure on-track implementation.

The CSR team shall be empowered to appoint an external third party to monitor / review / audit the progress (financial and programmatic) of the CSR projects.

IX. EFFECTIVE DATE

The CSR Policy shall be effective from the date of its approval by the Board of Directors. This Policy document may be superseding the CSR Policy as approved by the board. Provided, however, that all the acts done in pursuance of the earlier CSR Policy shall stand ratified and covered under this policy.

X. AMENDMENTS TO THE CSR POLICY

CSR Policy may be updated to align it with the changing requirement or changes in the legal and regulatory framework. Any revision in the Policy shall be approved by the Board of Directors.

CORPORATE SOCIAL RESPONSIBILITY POLICY

I. CSR POLICY

II. VISION STATEMENT AND OBJECTIVE

III. RESPONSIBILITY OF THE BOARD OF DIRECTORS:

IV. CSR COMMITTEE

(a) Constitution of CSR Committee

The Board of Directors shall be empowered to take decision for making or effecting changes in the constitution of the CSR Committee.

(b). Responsibilities of the CSR Committee

(i) To formulate and recommend to the Board of Directors a CSR Policy indicating the activities to be undertaken as specified in Schedule VII of the Companies Act, 2013 and modify/amend the same as required

(ii) To review and approve annual budgets with respect to CSR programs

(iii) To develop and institutionalize a CSR reporting mechanism in light with Section 135, Rule 8 of the Companies Act, 2013

(iv) To monitor the CSR Policy, Projects, and Programs from time to time

(c). Meetings of CSR Committee

The CSR Committee shall meet at least once in Three months. The meeting shall be held either at the registered office of the company or any other place, as may be decided by the members.

Physical presence of a minimum of four members of the committee shall constitute the quorum.

(d). Notice of Meeting

At least three days advance notice of every meeting, specifying the day, place and timing of Meeting and the general nature of the business to be transacted there at shall be given to the members. In urgency, a meeting may be convened by shorter notice.

At least three days advance notice of every meeting, specifying the day, place and timing of Meeting and the general nature of the business to be transacted there at shall be given to the members. In urgency, a meeting may be convened by shorter notice.

V. AREAS OF CSR ACTIVITIES

The Company is hereby devoted to direct its CSR resources, to a reasonable extent, for improving the quality of life of the people by focusing on the social causes, including but not limited to the following areas:

i. Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation, including contribution to the Swacch Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water;

ii. Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;

iii. 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;

v. 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;

vi. Measures for the benefit of armed forces veterans, war widows and their dependents;

vii. Training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sports;

viii. 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, and other backward classes, minorities and women;

ix. Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government;

x. Rural Development Projects; and

xi. Slum area development

xii. Activities related to promotion of road safety as suggested vide General Circular No. 21/2014 dated 18.06.2014 issued by Ministry of Corporate Affairs

xii. Activities related to promotion of road safety as suggested vide General Circular No. 21/2014 dated 18.06.2014 issued by Ministry of Corporate Affairs

EXCLUSIONS:

Following activities shall be excluded from the CSR expenditure:

a). Activities which are exclusively for the benefit of employees of the company or their family members;

b). Activities undertaken in pursuance of normal course of business of the Company;

c). Direct or indirect contribution to political parties;

d). Expenditure on item/s not in conformity with Schedule VII of the Companies Act 2013;

e). Surplus arising out of CSR projects shall not form part of the business profits of Company instead the same will be further used for CSR purposes only.

VI. IMPLEMENTATION MECHANISM

The Company is hereby devoted to direct its CSR resources, to a reasonable extent, for improving the quality of life of the people by focusing on the social causes, including but not limited to the following areas:

i. Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation, including contribution to the Swacch Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water;

ii. Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;

iii. 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;

v. 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;

vi. Measures for the benefit of armed forces veterans, war widows and their dependents;

vii. Training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sports;

viii. 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, and other backward classes, minorities and women;

ix. Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government;

x. Rural Development Projects; and

xi. Slum area development

xii. Activities related to promotion of road safety as suggested vide General Circular No. 21/2014 dated 18.06.2014 issued by Ministry of Corporate Affairs

EXCLUSIONS:

Following activities shall be excluded from the CSR expenditure:

a). Activities which are exclusively for the benefit of employees of the company or their family members;

b). Activities undertaken in pursuance of normal course of business of the Company;

c). Direct or indirect contribution to political parties;

d). Expenditure on item/s not in conformity with Schedule VII of the Companies Act 2013;

e). Surplus arising out of CSR projects shall not form part of the business profits of Company instead the same will be further used for CSR purposes only.

VI. IMPLEMENTATION MECHANISM

The company may collaborate or pool resources with other companies to undertake CSR activities and any expenditure incurred on such collaborative efforts would qualify for computing the CSR spending.

The progress will be reported to the CSR Committee during the committee meetings. The progress on CSR programs undertaken by the Company will be reported in the Annual Report in the format prescribed by the CSR Rules 2014.

VI. IMPLEMENTATION MECHANISM

The Board shall approve the allocation of the CSR Expenditure on the CSR Activities and, to the extent possible, shall give priority to the local areas wherever the company has its operations.

VIII. MONITORING OF CSR PROGRAMS

The CSR team shall be responsible for day to day management of CSR related activities of the company. The CSR team shall periodically report to the CSR committee regarding the financial and programmatic progress of CSR projects.

All projects undertaken by Company shall be monitored on a regular basis. On-site monitoring would also be undertaken at least once a year to ensure on-track implementation.

The CSR team shall be empowered to appoint an external third party to monitor / review / audit the progress (financial and programmatic) of the CSR projects.

IX. EFFECTIVE DATE

X. AMENDMENTS TO THE CSR POLICY

CSR Policy may be updated to align it with the changing requirement or changes in the legal and regulatory framework. Any revision in the Policy shall be approved by the Board of Directors.

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