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Name of the Document |
Corporate Social Responsibility Policy |
Original Release Date |
05-10-2015 |
Revised Date |
08-11-2019 |
Date of Last Review |
08-11-2019 |
Version |
2.0 |
Prepared By |
Company Secretary |
Changes & Reasons for Change |
Policy amended to incorporate amendments ecommended by the CSR Committee |
Duroflex Private Limited (‘DPL’ or ‘Duroflex’) diverse projects and operations touch lives of people in many ways and create value by helping in overall and holistic development of communities across multiple geographies. Through its various initiatives, the group endeavours to play a relevant role by serving communities and projects that address gaps in basic societal requirements. Duroflex Private Limited intends to make a positive difference to society and contribute its share towards thesocialcauseofbettermentofsocietyandareainwhichcompaniesoperates
In this regard, Duroflex Private Limited has made this policy which encompasses the Company’s philosophy for delineating its responsibility as a Corporate Citizen and lays down the guidelines and mechanism for undertaking socially useful programmes for welfare & sustainable development of the community at large and titles as the “Corporate Social Responsibility (CSR) Policy” which is based as per the Companies Act, 2013(‘the Act’) and rules made there under.
This policy has been formulated and recommended by the CSR Committee and adopted by the Board of Directors at its meeting held on 08.11.2019 in supersession of the earlier policy. The Board may upon recommendation of the CSR Committee, amend or modify this CSR Policy as and when necessary.
Enabling lives, living and livelihood for a stronger and inclusive India
This policy is applicable to Duroflex private limited in India. The following are the key elements of the policy:
a responsible corporate citizen, Duroflex Private Limited has embarked on several initiatives of scale in the education, healthcare and livelihood domains. Duroflex Private Limited endeavours to continuously learn from its experiences and adapt its policies and implementation strategy on an ongoing basis.
The primary objectives of this Policy are: -
To ensure an increased commitment at all levels in the Company, to operate its business in an economically, socially & environmentally sustainable manner, while recognising the interests of all its stakeholders.
To directly or indirectly take up programmes that benefit the communities in and around its work centres and results, over a period of time, in enhancing the quality of life & economic well-being of the local population.
To generate, through its CSR initiatives, a community goodwill for Duroflex Private Limited and help reinforce a positive & socially responsible image of Duroflex Private Limited as a corporate entity
DEFINITIONS.
FOCUS AREAS
For a company with diversified businesses like Duroflex Private Limited, there are several opportunities to increase and deepen social impact at scale and generate value for all. Duroflex Private Limited seeks to strategically consolidate the company's CSR initiatives to focus on discrete social problems, all aimed at enabling lives, living and livelihoods. Owing to its long tradition of social responsibility, the value of sustainable social impact at scale is instilled across the conglomerate
The focus areas includes the following :
1. Rural Transformation
To work towards bridging the developmental gap between rural 'Bharat' and urban India by improving livelihood, addressing poverty, hunger and malnutrition. Key initiatives include:
a. Supporting Farm and non-farm livelihoods2. Healthcare
To address issues around affordability and accessibility of quality healthcare and bring about improvement in awareness and health seeking behaviour in various parts of India, enabling a better living, through initiatives such as:
a) Primary, secondary and tertiary care facilities3. Education
To work on several educational initiatives to provide quality education, training, skill enhancement for improving the quality of living and livelihood. Initiatives are aimed at:
a) Promoting primary and secondary education4. Environment
To enable enhanced livelihood and quality of life, promote environment sustainability through various initiatives for:
a) Ecological sustainabilityf) Developing gardens and river fronts
5. Protection of national heritage, art and culture
To work towards preserving the rich heritage, arts and culture of India for its future generation and make conscious efforts to ensure its continuity and enhance avenues for livelihoods of traditional artisans and craftsmen. Key initiatives include:
a) Working towards protecting and promoting India's art, culture and heritage through various promotional and developmental projects and programmes.d) Documenting India's rich heritage for the benefit of future generation
6.Disaster Response
Duroflex Private Limited has a track record of organizing timely relief and rehabilitation of communities affectedby natural calamities.
To strengthen efforts in the area of Disaster Response towards establishing Duroflex Private Limited as one of the leading organizations with the capacity to respond in a timely and impactful manner in the affected areas. Key initiatives include:
7. Other Initiatives
Toundertake other need based initiatives in compliance with Schedule VII of the Companies Act, 2013, as amended from time to time.
ANNUAL SPENDS / ALLOCATION OF FUNDS
The Company would spend not less than 2% of the average Net Profits of the Company made during the three immediately preceding financial years. The surplus arising out of the CSR activity will not be part of business profits of the Company. The Corpus would thus include the 2% of average net profits, as aforesaid, any income arising there from and surplus arising out of CSR activities.
Annexure
As presented to the Board by the CSR Committee [Ref. Section 135 (3) (a) and (b)]
S. No |
CSR project or activity identified | Sector in which the Project is covered | Projects or programs (1) Local area or other (2) Specify the State and district where projects or programs was undertaken |
Amount outlay (budget) project or programs wise |
Amount spent on the projects or programs Sub – heads: (1) Direct expenditure on projects or programs (2)Overheads | Cumulative expenditure up to the reporting period | Amount spent: Direct or through implementing agency* |
1 | |||||||
2 |