This Corporate Social Responsibility (hereinafter referred to as 'CSR') Policy is framed in terms of the Companies Act, 2013 (hereinafter referred to as 'the Act') read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 (hereinafter referred to as 'the CSR Rules'), as amended from time to time.
The Companies Act, 2013 together with the rules notified there under ('the Act') and Schedule VII to the Act provides a framework for companies to define the focus areas in the CSR space. The law also guides companies to apply the scope as defined under Schedule VII liberally. Further, the Act also provides instructions on agencies eligible for implementation through which the Companies may spend its CSR expenditure. Vineeth Precious Catalysts Pvt. Ltd.'s (hereinafter referred to as 'The Company') CSR Policy, focus areas and the implementing agencies shall therefore remain within the boundary set by the law.
This CSR Policy of the Company, as recommended by the Corporate Social Responsibility Committee (hereinafter referred to as ‘CSR Committee') and approved by the Board of Directors (hereinafter referred to as ‘Board'), outlines a clear agenda through which we will continue to contribute to the communities directly or through various CSR eligible entities engaged in such activities. The objective of this policy set the direction for the CSR activities of the Company and defines the governance and monitoring framework for ensuring the effectiveness of the policy.
Programmes, projects , activities and contributions to other CSR eligible entities engaged in such activities(hereinafter collectively referred to as 'CSR Programmes') will be carried out in this regard are the subject matter of this Policy.
It is the Company's CSR Policy to direct and contribute to other CSR eligible entities under its CSR Programmes, inter alia, towards achieving one or more of the following - poverty alleviation; promoting education and skill development; promoting healthcare including preventive healthcare; providing sanitation and drinking water; ensuring environmental sustainability; enabling climate resilience; rural development projects; creating livelihoods for people, especially those from disadvantaged sections of society; protection of national heritage, art and culture; preserving and promoting music and sports; and providing relief and assistance to victims of disasters and calamities.
In pursuit of the above, the Company has identified the following focus areas for its CSR Programmes based on comprehensive need assessment surveys of its stakeholders :
The Company's CSR Programmes will be implemented through (i) Company personnel, or (ii) external implementing agencies, or (iii) Company's Trusts if any, and (iv) such other Trusts, Societies, Foundations and Section 8 companies that may be established by the Company from time to time.
In case CSR Programmes are implemented through external agencies or ITC Trusts, the programmes to be undertaken by those agencies or Trusts will be specified, and it will be ensured that such programmes are covered in the Objects laid down in the respective Trust Deeds / Memoranda and Articles of Association of the external agencies / Company's Trusts.