The Policy outlines the Company’s responsibility as a corporate citizen and lays down the guidelines and mechanism for undertaking activities for the welfare & sustainable development of the community at large.
The core purpose of CSR is the continuing commitment by business to ethical principles, protection of human rights, care for the environment while improving the quality of life of all stakeholders including the local community and society at large.
The Company believes that all the stakeholders must be benefited, whether it is employee welfare or involvement of the employees in fulfilling the needs of the society. It firmly believes in sharing its prosperity with the society in which it operates. Chadha Papers Ltd., being a responsible corporate citizen, has always believed in going beyond mere compliance with the laws of the land. Thus, the objective of the CSR Policy of the Company is not just to meet the legal requirements, but to have a profound positive social impact. The CSR policy of the Company is an effort to upheld the interest of various stakeholders, along with the community and the environment as a whole.
The Company may undertake any of the following activities or such other activities as may be notified by the government from time to time:
(i) Eradicating hunger, poverty and malnutrition, promoting health care including preventive healthcare and sanitation including contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water;
(ii) Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and differently abled and livelihood enhancement projects;
(iii) Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups;
(iv) Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources and maintaining quality of soil, air and water including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga;
(v) 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;
(vi) Measures for the benefit of armed forces veterans, war widows and their dependents;
(vii) Training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sports;
(viii) 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;
(ix) Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government;
(x) Rural development projects;
(xi) Slum area development;
(xii) Any other activities in relation to above and all other activities which forms part of CSR as per Schedule VII of the Companies Act, 2013 as amended from time to time.
(a) The investment in CSR shall be project based and for every project time framed periodic mile stones shall be finalized at the outset.
(b) Project activities identified under CSR are to be implemented by specialized Agencies and or by Staff of Chadha Papers Limited. Specialized Agencies could be made to work singly or in tandem with other agencies.
(c) Such specialized agencies would include:
(1) Registered Trust; or
(2) Registered Society; or
(3) A Company established by the Company under Section 8 of the Companies Act 2013; or
(4) Agencies having established track record of three years in undertaking specified projects/programs.
(5) Voluntary Agencies (NGOs)
(6) Institutes/Academic Organizations.
(7) Trusts, Mission etc.
(8) Government, Semi Government and autonomous Organizations.
(9) Mahila Mondals/Samitis and the like
(10) Contracted agencies for civil works
(11) Professional Consultancy Organization etc.
(d) The areas / villages falling around plants shall be identified by respective GM/AGM/ Plant Heads.
The CSR Committee consists of three Directors, out of which at least one Director is an Independent Director, if required to be appointed under the Companies Act, 2013.
The Corporate Social Responsibility Committee (CSRC) will examine & approve the proposals received from the Area Level Committee and decide allocation of funds at various heads / activities / projects.
The CSR Project shall be fixed for each financial year. This fund will not lapse. It will be transferred to CSR fund which will accumulate.
(i) The CSR activities shall be undertaken by the Company either new or ongoing, excluding the activities undertaken in pursuance of its normal course of business.
(ii) Any payment made directly or indirectly to the political party(ies) will not form part of CSR activities/ expenditure
(iii) The CSR projects or programs or activities that benefit exclusively for the employees of the Company and their families shall not be considered as CSR activities in accordance with this policy.
(iv) Any surplus arising out of the CSR projects or programs or activities shall not form part of the business profit of the Company.
(i) Annual Report on CSR activities & Sustainability shall be included in the Board’s Report as per the formats notified in the Act.
(ii) Additionally, the CSR Policy of the Company along with a report on its CSR activities & Sustainability shall be made available on the Company’s website, if any.
(iii) If the Company fails to spend the required amount on CSR Activity, the Board shall, in its report made under Section 134(3)(o) of the Companies Act, 2013, specify the reasons for not spending the amount.
The above guidelines would form the framework within which the CSR activities would be undertaken. Every Area should have specific activities to adopt mostly in their close vicinity of the projects.
The CSR Committee will review the Policy from time to time based on changing needs and aspirations of the target beneficiaries and make suitable modifications, as may be necessary.