The Corporate Social Responsibility Policy (“CSR Policy”) of Ashirvad Pipes Private Limited has been formulated by the CSR Committee and approved by the Board of Directors at its meeting held on 11th February 2021.
This policy aims to contribute towards sustainable development of the society and environment to make the planet a better place for future generations. The philosophy of CSR is imbibed in our business activities and social initiatives taken in the area of Water conservation, Skill Development, Education, health, sanitation, poverty alleviation, sustainability, ecological conservation, etc.
The activities enlisted in this CSR Policy are aligned with the group CSR Policy of Aliaxis Group and are carried out by the company either individually or in association with eligible Implementing Agencies registered with the Ministry of Corporate Affairs.
The CSR Policy is formulated in accordance with the provisions of section 135 of the Companies Act, 2013 and rules made thereunder and other applicable laws to the company.
This policy shall be effective from the beginning of the financial year 2021-22.
CSR Committee was constituted by the Board of Directors of the Company with the functions assigned such as Formulation of CSR Policy, recommend the amount to be spent,
Provide Guiding principles for CSR Project selection, implementation, monitoring, formulation of annual action plan and changes there too.
Company shall undertake CSR activities for the development of the society and the environment, particularly in the vicinity of the areas where the facilities of the company are located.
A. The company shall undertake such activities which are broadly related to any of the following:
The above areas as enshrined in Schedule VII to the Act as amended from time to time and included in this policy aims to provide macro-areas in which CSR projects should be undertaken by the company. The CSR Committee should consider details of CSR projects as elaborated in the annual action plan for each financial year.
While the company may undertake CSR activities in any areas listed above, the focus areas of CSR activities should be on the following aspects:
The CSR Committee shall formulate and recommend to the Board, an annual action plan which shall include the list of CSR projects approved, the manner of execution of such projects, modalities of utilization of funds, monitoring and reporting mechanism for the projects or programmes, details of need and impact assessment, if any.
The Board of Directors is empowered to alter the annual action plan during the financial year, if so, recommended by the CSR Committee, based on the reasonable justification for such change.
The company shall endeavor to achieve the objectives of CSR Policy and allocate every year:
All the expenditures relating to CSR shall be pre-approved by the CSR Committee. The CFO shall monitor the utilization of funds for the purposes set forth and certify to this effect.
Unspent CSR amount, if any, shall be transferred to a separate account in accordance with the applicable CSR Rules from time to time.
CSR programs, projects, or activities of the company should be implemented through the following methods:
CSR Programme Monitoring & Implementation Committee
A separate Committee for monitoring and implementation of CSR programmes shall be constituted with such management members from time to time as decided by the CSR Committee.
CSR activities undertaken should be in the interest of the society and the local population where the company operates. Before undertaking any project or activities the company shall conduct a need assessment for the project and its utility in the demography where the project is proposed.
After one year of completion of the CSR project, the company should consider conducting an impact assessment of the project so completed and place a report for consideration of the Board. A summary of impact assessment outcomes shall be disclosed in the Board’s Report.
Capital assets acquired or created by CSR projects should be held by the beneficiaries of the said CSR project or trust or public authority for the benefits of all. The company should take appropriate measures to ensure that such assets are utilized for the purpose it was meant for and should not be transferred or disposed off without prior permission of the company.
CSR Policy and activities undertaken shall be disseminated on the website for public access and shall be published in the Annual Report of the company in the format prescribed under the Act and CSR Rules.
The CSR Committee shall be fully responsible for the monitoring and review of the implementation of this policy in accordance with applicable laws from time to time. The CSR Committee shall provide recommendations as and when it deems necessary to the Board to amend/ modify/ revise the CSR Policy.