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Corporate Social

Corporate Social Responsibility Policy
- Sahir Ludhianvi

1. LEGAL FRAMEWORK UNDER COMPANIES ACT, 2013:

Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 and Annexure VII of the Act has introduced a legal backing to Corporate Social Responsibility (CSR); ensuring that corporates earmark a part of their earnings to the welfare of the society at large. As an organization, M/s. Ganga Acrowools Limited (GAL) is covered by these rules. Since its inception GAL has been taking initiatives for good of the community-at-large & society welfare.

2. VISION FOR CSR

To contribute for benefit of society at large and help generate sustainable livelihood for the underprivileged.

3. FOCUS AREA FOR CSR ACTIVITIES

CATEGORY LIST OF ACTIVITIES
Environmental sustainability
  • Plantation drives in schools, villages, neighborhoods of our manufacturing units & offices/business premises and other areas in general.
  • Protection of flora, fauna and natural resources.
  • Promoting awareness about environmental issues
  • Funding research projects at technology hubs for environmental and social sustainability
  • Activities undertaken under “Swach Bharat Mission”
Education (Including Special & General Education)
  • Contributing to recognised NGOs for running schools, residential facilities for individuals with special needs.
  • Provide infrastructure and financial assistance to educational institutions schools and also help scaling up the knowledge skills of the teaching staff in selected schools
  • Offering scholarships and financial assistance to needy students
  • Offering financial assistance to staff in neighborhood schools.
Health
  • Ensuring access to potable drinking water and hygienic sanitation in the neighborhood
  • Contributing for & helping set up clinics and hospitals in the neighborhood.
  • Contributing for running medical vans and ambulances in rural area and other areas of operation.
  • Contributing for organizing health camps and promoting awareness about various health issues and services
  • Providing financial assistance for needy patients.
  • Supporting and funding research on health related issues and severe diseases
Livelihoods
  • Contributing for setting and running skill development centers, industrial training centers, institutes and colleges, etc.
  • Sponsoring candidates for skill development and vocational training programmes offered at identified institutions and provide financial assistance for the same.
  • Promotion of vocation skills imparting of education/ training in fields such as handcraft, crotchet work, hand knitting, especially in rural or semi-urban areas through NGOs, schools etc.
Rural Development
  • Financial Assistance for rural infrastructure like roads, bridges, drains, rural electricity, water infrastructure, community centers, clubs, etc.
  • Development of Slum Areas.
Sports
  • Promotion of Sports with special focus on training for rural sports, nationally recognised sports, Paralympic sports, Olympic sports.
  • Organizing sports tournaments and coaching camps for community.
  • Organizing leadership and motivational camps.
Others
  • As specified in Companies Act, 2013 and Rules made there under.

4. AMOUNT TO BE SPENT

Every financial year the Board of GAL on recommendations of CSR Committee shall spend for the specified CSR activities, an amount which is not less than 2% of the average net profits of the company for the immediately preceding three financial years. However in any financial year, for any reasons, the company is unable to spend an amount as stated above shall provide suitable explanation with reasons thereof in the Directors’ Report of the Company.

5. CORPORATE SOCIAL RESPONSIBILITY BUDGETS AND EXPENDITURE

A specific budget is allocated for CSR activities. This budget is approved by the Committee in every financial year. The committee shall recommend the budget to be incurred during the financial year on different activities as specified in policy and Companies Act.
The committee shall monitor the policy on Corporate Social responsibility periodically and recommend any addition/ modification in the policy.

6. METHOD OF CSR EXPENDITURE

The Board of GAL may undertake the CSR activities directly by itself or by contributing to external agencies i.e. Companies (Established under section 8 of the Act), Registered Trusts, Recognized NGOs, and Registered Societies having track records of doing the similar programs or projects, as recommended by the CSR Committee.
GAL may also collaborate with other companies for undertaking projects or programs for CSR activities in such a manner that the respective companies are in a position to report separately.

7. GEOGRAPHICAL AREA

GAL may undertake CSR activities anywhere in India; however preference shall be given for the locations where the Company’s operate.

8. DISCLOSURE IN DIRECTOR REPORT

The Director Report of GAL shall disclose the followings:
  • Composition of the CSR Committee of GAL.
  • Policy on the Corporate Social Responsibility.
  • Activities taken by the GAL in respect of Corporate Social Responsibility.
  • Amount spent during the financial year for CSR.
  • Failure if any, for spent the amount for CSR activities.

9. INFORMATION DISSEMINATION

GAL shall disseminate about the policy of CSR and the activities undertaken by the company through its website and Annual Reports.

10. AUTHORITY FOR MONITORING

The CSR committee shall timely monitor the activities, policy and amount of expenditure made or to be made for CSR purpose.
The Chairperson,
CSR Committee,
249, Industrial Area 'A', Ludhiana-141003, Punjab, India.
Ph: 0161- 4008400, Fax: +91-161-4008444,
Website: www.gangaacrowools.com,
CIN: U17117PB1994PLC014190