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CSR Policy (Governing Provisions)
This Corporate Social Responsibility Policy ("CSR Policy") has been framed by KASHVI POWER & STEEL PRIVATE LIMITED (the Company) in accordance with Section 135, Schedule VII of the Companies Act, 2013, and Companies (CSR Policy) Rules, 2014, as amended from time to time.
CSR Vision Statement
The main objective of this policy is to actively contribute to the social, environmental, and economic development of the society in which we operate. The Company believes in generosity and thoughtful contributions to help build a society where everyone can grow and lead a better standard of living.
Corporate Social Responsibility Committee (CSRC)
Composition
The Corporate Social Responsibility Committee consists of 2 Directors.
| SL NO |
NAME |
DESIGNATION |
| 1 |
Mr. Debabrata Behera |
Managing Director |
| 2 |
Mrs. Susmita Behera |
Director |
Meetings
The Committee shall hold meetings as and when required to discuss various issues on the implementation of the CSR Policy.
Quorum
The quorum for a meeting of the Committee on CSR shall be one-third of its total strength or two members, whichever is higher.
Role of CSR Committee
- To formulate and recommend a CSR Policy to the Board.
- To recommend the amount of expenditure to be incurred on CSR activities.
- To monitor the CSR Policy from time to time.
- To recommend an Annual CSR Action Plan.
- To alter the CSR Action Plan during the financial year if necessary.
Role of Board of Directors
- The Board shall approve the CSR policy and the Annual CSR Action Plan.
- Ensure that the Company spends 2% of the average net profits of the preceding three financial years on CSR activities.
- Monitor and ensure proper utilization of the CSR funds.
CSR Activities
Pursuant to Schedule VII of the Companies Act, 2013, the following activities are approved as CSR Activities:
- Promoting preventive healthcare and sanitation.
- Promoting education and vocational skills.
- Conservation of natural resources.
- Water conservation and maintaining environmental quality.
- Promoting gender equality and women empowerment.
- Community health initiatives.
- Sustainable livelihood projects for marginalized groups.
- Rural infrastructure development.
- Contributions to national relief funds.
- Promoting sports, including Olympic sports and rural sports.
Budget for CSR Activity & Expenses
The Company shall allocate at least 2% of its average net profits of the three preceding financial years for CSR activities. The total fund for CSR activities shall be approved by the Board based on the CSR Committee's recommendation.
Identification and Implementation of CSR Projects
The CSR Committee, in consultation with the Board, shall decide on priority CSR activities based on community needs. The Committee will also finalize the implementation plan and monitor the progress of activities, reporting quarterly to the Board.
Monitoring by the Board
The Board shall regularly monitor the progress of CSR activities, reviewing expenses and implementation schedules, and provide recommendations for improving the process.
Compliance and Reporting
The CSR Committee is responsible for ensuring compliance with the CSR Policy. Progress reports, budget updates, and other relevant details will be presented to the Board and included in the Company’s Annual Report.
Modification of the Policy
The Board of Directors may revise or modify this policy based on recommendations from the CSR Committee, ensuring alignment with legal provisions and applicable rules.
General
Minutes of all CSR Committee meetings must be signed by the Chairman and submitted at subsequent Board meetings.
Management Commitment
Our Board, Management, and employees believe in fostering a culture of kindness and benevolence, aiming to build a society that works for everyone.
