CSR Activities

The objective of the CSR Policy (“Policy”) is to lay down the guiding principles in implementing the Corporate Social Responsibility (“CSR”) obligation of the Company within the meaning of section 135 of the Act read with Schedule VII of the Act and the Rules.

The policy shall be applicable to all CSR activities of the Company whether carried by it or through any implementation agency with effect from the date the Policy is approved by the Board of Directors.  

CSR Committee means the committee of the Board of Directors constituted in terms of the Act and the Rules.  Presently the CSR Committee comprises of 2 directors:  

(i) Mr. Harsh Gupta 

(ii) Mrs. Sangita Gupta  

The CSR Committee may meet at such intervals as may be considered appropriate by the Committee or as and when required.

i. To draft the CSR Policy and recommend the same to the Board for approval. 

ii. To review and recommend the CSR initiatives to be taken up by the Company including the selection/appointment of implementation agencies, if any. 

iii. Review the progress of CSR projects, if any, undertaken by the Company and the utilization of budgets for each such project.

iv. Review and recommend the CSR report to be included in the Board’s report. 

v. Review and recommend any amendments to be made in the CSR policy of the Company. 

vi. To carry such other functions as may be delegated to it by the Board relating to CSR activities of the Company. 

In compliance of the Act and the Rules and with the approval of the Board of Directors, the Company shall, in each financial year, set aside a sum equivalent to at least 2% of the average net profits of the Company for the three immediately preceding financial years (“CSR Corpus”). The CSR Corpus of each financial year shall be spent on or before 31st March of the relevant financial year.  

Any surplus arising out of the contribution made for CSR activities shall not form part of the business profit of the Company.