The Corporate Social Responsibility (CSR) has been an integral part of the way we have been doing our business since inception. This has also enabled us to fulfill our commitment to be a socially responsible corporate citizen.
Constitution of a Corporate Social Responsibility Committee of the Board and formulation of a Corporate Social Responsibility Policy has become mandatory under the Companies Act, 2013. Accordingly, our Company has formulated this CSR Policy which encompasses its philosophy and guides its sustained efforts for undertaking and supporting socially useful programs.
The main objective of Company’s CSR policy is
In this Policy, unless the context otherwise requires;
In terms of section 135 of the Companies Act, 2013 and the Rules made thereunder, Board of Directors of the Company at its meeting held on 12th December, 2014 has constituted a CSR Committee and the following are its members;
The CSR Committee to, inter alia, carry out the following functions;
While we strive to undertake all or any suitable activity as specified in Schedule VII to the Act, currently, we focus to support and implement the following activities as our thrust areas;
CSR activities at MHEPL shall be carried out through:
The CSR Committee will identify and recommend to the Board the CSR activities including the thrust areas, annual budget, planned expenditure and implementation schedule etc.
The CSR activities will be carried out directly or indirectly at the corporate office, in and around the areas of the projects of the Company, Subsidiaries and Associates. However, this shall not bar the Company from pursuing its CSR activities in any other areas. The CSR activities will be carried out / implemented, directly or indirectly, through Manipal Foundation or any other Trust / Society / Section 8 Companies / Agencies established / registered to carry on the CSR activities as defined under the Rules.
The following activity shall not form part of the CSR activities of the Company:-
The committee shall endeavour to spend atleast 2% of the average net profit during the preceding 3 financial years on CSR activities as enumerated above. The allocation of the fund shall be made as follows:-
The CSR Committee will be responsible for the monitoring CSR activities and report to the Board from time to time. The CSR Committee shall meet at least once in a year to monitor the implementation of CSR Plan and its activities. The Committee shall ensure that the CSR Policy, as amended from time to time, is displayed on the company’s website.
The CSR Committee has the powers to:
The CSR Committee shall place before the Board, a draft annual report on CSR activities as per the specified format, in the First Board Meeting of the following year for Board’s review and finalization. The Board shall include in its report to the shareholders, the annual report on CSR activities as per the format specified under the Rules.
The Company Secretary of the Company shall assist the CSR Committee and the Board for performing their respective duties under the CSR Policy, any changes by the Government in the regulations governing the CSR activities.
Periodic reporting on the CSR activities, execution modalities, implementation schedules etc., by the CSR Committee shall be in the following format which may be amended by the CSR Committee from time to time.
|Schedule VII Activity||Execution Details||Budget