“A Corporation does not grow by making financial profits only, they grow if they contribute consistently for the growth of society and environment to which they belong. ’’
Shyam Indus Power Solution Pvt ltd has always believed in growth of the community in which we live and work. We at ‘Shyam Indus Power Solutions’ have constantly been emphasising on social development along with economic development. We intend to further create a positive impact on the environment by focusing on empowerment and improving the standard of living of the community as a whole. Although, we have been contributing to the social causes by making donations towards various charitable activities and by supporting rural development and education initiatives for a long time now; the initiatives that are required to be taken by the Company in future for successful implementation of the above objectives have been duly incorporated under this CSR Policy for the Company.
The CSR activities of the Company will be mainly focused on the following themes:
- Set-up educational institutions, supporting infrastructure for educational institutions, offering scholarships and financial assistance to students and developing supporting services towards adult literacy.
- Promote education, including livelihood enhancement programmes, vocational training amongst women, elderly and differently-abled persons.
- Set-up clinics, hospitals and organizing health camps in remote regions and providing financial assistance for medical treatment to the under privileged.
- Promote awareness towards health issues, small family norms and undertake / support research on health related issues.
- Eradicate hunger, poverty and malnutrition.
- Proper sanitation.
- Provide safe drinking water in remote areas / villages.
- Organize and manage entertainment, hobby and sports institutes and events.
- Offer scholarships and equipment to meritorious and needy sportsperson for competitions at local, national and international levels.
- Encourage youth to engage in field and adventure sports.
- Organise tournaments to promote rural sports.
- Extend administrative and logistic support during relief operations during natural / manmade disasters incl establishment of rehabilitation camps (in coordination with Govt’s relief efforts and policies).
- Undertake research related to environmental issues.
- Promote renewable sources of energy and undertake afforestation.
- Protect flora and fauna including welfare of domesticated animals in the area of responsibility.
- Conserve natural resources including quality of soil, air and water.
- Promote agro forestry.
- Run awareness programs for farmers towards better / new agricultural practices.
- Protect National and Regional heritage.
- Promote and develop traditional arts, culture and handicrafts.
- Restore and maintain buildings, sites and works of art of historical significance.
- Promote empowerment of women and persons belonging to weaker sections of society.
- Setup and manage hostels for girls, working women and orphans.
- Open and manage ‘Day Care Centres’.
- Incorporate measures for providing social benefits to Indian Armed Forces veterans, war widows (Veer Naries) and their dependents.
- Career opportunities to veterans of the Indian Army.
- A CSR committee of the Board will be established to formulate and recommend a detailed CSR program / policy to the Board of Directors based on the above mentioned guidelines indicating activities to be undertaken as specified in Section 135 and Schedule VII of the Companies Act 2013.
- The composition of the CSR Committee of the Board for ‘Shyam Indus Power Solutions Pvt Ltd’ is as given below:
Mr. Ram Niwas Hooda – Non-Executive Independent – Chairman
Smt. Saroj Sindhu – Executive Non- Independent – Member
Mr. Saurabh Sindhu – Executive Non- Independent – Member
- In the beginning of each financial year, the CSR Committee will propose to the Board of Directors the CSR projects / activities which would be carried out during the year along with a detailed implementation plan and budgeting strategy. The Board, after due deliberations and modifications deemed necessary, will then approve the CSR Plan for the financial year.
- The persons / bodies, to whom the implementation of the CSR Plan is assigned, will carry out the CSR activities within the stipulated period allotted. The execution and progress of these projects will be reviewed by the CSR Committee from time to time for its efficient execution.
- At the end of each financial year, the CSR Committee will submit a written report to the Board of Directors.
Responsibility of CSR Committee :
- To formulate CSR activities which are to be undertaken by the Company and bring the proposal to the Board for its approval.
- To recommend the amount of expenditure to be incurred on CSR activities.
- To ensure strict adherence to the CSR policy.
- To ensure that the implementation and monitoring of CSR policy is in compliance with the CSR objectives and company policy.
- To institute transparent monitoring mechanisms for implementation of CSR projects.
Responsibility of Board of Directors :
- Approval of CSR policy.
- Ensure that the Company spends at least 2% of its average net profit on CSR activities in every financial year.
- Ensure that the Company gives preference to local areas around its areas of operation for CSR projects.
- Ensure that the annual report of the Company shall include an annual report on CSR.
- In case a portion of the CSR budget remains unexpended, the same should be specified along with justification in the Company’s Annual Report.
- The total budget for the CSR projects will be decided by the CSR Committee in accordance with relevant provisions of the Companies Act 2013 and the CSR Rules 2014.
- The company will establish an accounting system to ensure regular monitoring of the CSR expenditures.
IMPLEMENTATION AND REVIEW MECHANISM:
- The CSR activities of the Company will be carried through the trusts, societies or by the Company itself. Decision in this regard will be based on what is most appropriate and will be taken by the CSR Committee of the Company.
- The Company will specify the CSR Programmes and Projects which will be undertaken by the Trusts in accordance with objectives and administrative and accounting processes laid down in their respective Trust Deeds / Memorandum and Articles of Association.
- A Company appointed officer will coordinate the execution of all the CSR works with the implementing agencies, CSR Committee and the Board of Directors.
- The CSR Officer will convene timely meetings with the CSR committee to take an update / progress of work, provide guidance for the future activities to be undertaken and monitor the activities approved by the Board.
- Any or all provisions of this CSR Policy may be amended by the Board of Directors based on the recommendations of the CSR Committee or in accordance with any statutory guidelines that may be issued from time to time.