CSR Policy

Preamble

The Board of Directors ("the Board") of the Company has adopted this policy in line with the requirements of the Companies Act, 2013 and the Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended from time to time.

Vision

Corporate Social Responsibility (CSR) is fundamentally a philosophy or a vision about the relationship of business and society. The emerging concept of CSR goes beyond charity and requires the Company to act beyond its legal obligations and to integrate social, environmental and ethical concerns into Company's business process.

This policy shall apply to all Corporate Social Responsibility ("CSR") initiatives and activities to be undertaken by the Company. CSR Policy functions as a built-in, self-regulating mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms.

Objective

• to provide the framework for selection, allocation, implementation, governance, management and monitoring of CSR initiatives and formulation of the annual action plan; and

• to ensure an increased commitment at all levels in the organisation, to operate its business in an economically, socially & environmentally sustainable manner, while recognising the interests of all its stakeholders.

Definitions

1. 1.

   "Act" shall mean Companies Act, 2013 and includes any amendments thereof.

2. 2.

   "Board" or "Board of Directors" means the Board of Directors of the Company.

3. 3.

   "Corporate Social Responsibility (CSR)" means as defined in the Act or Rules made thereunder.

4. 4.

   "CSR Activities" means such programs and projects as may be approved by the Board in line with the Act and Rules made thereunder.

5. 5.

   "CSR Committee" means a committee constituted by the Board of Directors in terms of Section 135 of the Act and the CSR Rules.

6. 6.

   "CSR Rules" mean the Companies (Corporate Social Responsibility Policy) Rules, 2014, as amended from time to time.

7. 7.

   "Director(s)" means a member(s) of the Board of the Company.

8. 8.

   "Net Profit" means the net profit of the Company as defined in the Rules.

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