Corporate Social Responsibility Policy
(In terms of Section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules, 2014
Company’s CSR Vision:-
To actively contribute to the social and economic development of the communities in which the Company operates and aims at supplementing the role of Government in enhancing the welfare measures of the society within the framework of its policy.
Legal Provisions Governing the CSR:-
The legal provisions governing CSR are set out in Section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules, 2014.
It requires that at least 2% of the average net profits of the Company made during the 3 immediate preceding Financial Years shall be spent in pursuance of the Company’s Corporate Social Responsibility Policy.
Average Net Profit for the aforesaid purpose shall be calculated in accordance with the provisions of Section 198 of the Companies Act, 2013.
In accordance with the requirements of the Companies Act, 2013 and rules made there under, Company’s CSR activities/programs shall be focused on:
- Health: Eradicating hunger, poverty, and malnutrition, promoting preventive health care and sanitation, and making available safe drinking water;
- Education: Promoting education, including special education and employment enhancing vocation skills, especially among children, women, elderly, and the differently-abled and livelihood enhancement projects;
- Gender Equality and Empowering Women: Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, daycare centers, and such other facilities for senior citizens, and measures for reducing inequalities faced by socially and economically backward groups;
- Environmental Sustainability: Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources, and maintaining the quality of soil, air, and water;
- Cleanness: To create awareness of a cleaner, greener environment and global warming issues at schools and also in villages in the surrounding region.
- National Heritage, Art, and Culture: 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.
- Prime Minister’s National Relief Fund & other Fund: 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;
- Rural Development: Contribution to rural development projects;
- Other Activities: Any other measures with the approval of the Board of Directors on the recommendation of the CSR Committee subject to the provisions of Section 135 of Companies Act, 2013 and rules made there-under.
In compliance with the requirements of Section 135 (1) of the Companies Act, 2013 read with Rules made there under, a CSR Committee has been constituted by the Board of Directors of the Company constituted with the following four directors as members of the Committee:
- Shri Ramsekhar Manchikalapati, Chairman
- Dr. Amita Prasad, Member
- Shri Amitabh Kumar Jha, Member
- Shri Kushal Veer Singh, Member
The Terms of Reference of the Committee shall be as follows:
- To formulate and recommend to the Board, a Corporate Social Responsibility Policy which shall indicate the activities to be undertaken by the Company as specified in Schedule VII of the Companies Act,2013.
- To approve projects that are in line with the CSR policy
- To recommend the amount of expenditure to be incurred on the CSR activities.
- Monitor CSR Policy of the Company from time to time.
- To setup a transparent monitoring mechanism for implementation of the CSR project or programs or activities undertaken by the company.
- To perform such other functions as may be necessary or appropriate for the performance of its duties.
- The Company shall ensure that it spends, in every financial year, at least 2% of its average net profits made during the 3 immediately preceding financial years, in pursuance of its Corporate Social Responsibility and subject to Section 135 of the Companies Act, 2013 and the Rules made there under.
- Net profits mentioned herein above means, Net profit of the Company as defined under the provisions of the Companies Act, 2013 and Companies (Corporate Social Responsibility Policy) Rules, 2014.
- The CSR Committee of the Board shall institute a transparent monitoring mechanism for the implementation of CSR projects or programs or activities undertaken by the Company. A time frame shall be fixed for all CSR projects/ activities for their timely completion with suitable milestones. CSR Committee shall monitor the project’s progress.
Reporting of CSR Initiatives
- CSR Committee of the Board will periodically consider the progress report on the various CSR initiatives taken up by the Company. Details of the CSR activities undertaken by the Company and amounts spent along with reasons for spends below budgeted levels, if any, shall also be reported in Company’s Annual Report under Directors’ Report.
Compliance with Companies Act, 2013
- Our Corporate Social Responsibility policy conforms to the Section 135 of the Companies Act, 2013 on Corporate Social Responsibility as spelt out by the Ministry of Corporate Affairs, Government of India.
Contribution to PM CARES Fund
- Due to Novel coronavirus (COVID-19) outbreak, Company has contributed an amount of Rs. 4,85,44,573 towards PM CARES Fund.
- As per Office Memorandum issued by Ministry of Corporate Affairs, any Contribution made to PM CARES Fund shall qualify as CSR Expenditure under Companies Act 2013
Contact us for CSR Enquiries
NHAI, G-5 & 6, Sector 10, Dwarka,
New Delhi – 110075, India
Phone: 011-25074100 (extension-1804)