Corporate Social Responsibility

Corporate Social Responsibility at Shreeji Infraspace, has been institutionalized as a way of life and is facilitated through Shreeji Foundation Charitable Institution that supports education and healthcare. We believe that the primary purpose of the company is to improve the quality of life of the people in the community it serves and thus our CSR policy means much more than extending the commitment to all stakeholders.

We believe in integrating our corporate values and business needs to meet the expectations of our customers, employees, partners, investors, communities and public at large. We contribute in making the world better by introducing sustainable measures and providing assistance to institutions and welfare organization. The Company also endeavours to prevent pollution, ensures optimum use of resources and minimize harmful impacts on society and environment during construction processes and materials movement and its delivery throughout the supply chain.

COMPOSITION OF CSR COMMITTEE

According to the provisions of law, a private company having only two directors on its board may constitute its CSR committee with two such directors.

The Corporate Social Responsibility Committee as approved by the resolution passed at meeting of Board of Directors, shall comprises following board members:

1. SHRI JIGARBHAI SHAILESHBHAI PATEL
2. SHRI AMIT SHAILESHKUMAR PATEL
3. SHRI SHAILESHKUMAR JAYANTILAL PATEL

 

CORPORATE SOCIAL RESPONSIBILITY POLICY

OBJECTIVE

Company has formulated a Corporate Social Responsibility Committee under the provisions of section 135 of the Companies Act, 2013 and Companies (Corporate Social Responsibility Policy) Rules, 2013. The Committee has been vested with the powers to formulate a Policy on Corporate Social Responsibility of the company.

In exercise of the powers vested in the CSR Committee, the Committee has formulated this Policy in compliance with Section 135 of the Companies Act, 2013 and Companies (Corporate Social Responsibility Policy) Rules, 2013.

CSR VISION

The vision of SHREEJI INFRASPACE PRIVATE LIMITED (SIPL) is to be a responsible leader and demonstrate environmental, transparent and ethical behavioural practices which will contribute to the economic and sustainable development within the company, industry, and society at large.

At SIPL, CSR has effectively evolved from being engaged in passive philanthropy to corporate community investments, which takes the form of a social partnership initiative creating value for stakeholders.

The Company’s CSR activities build an important bridge between business operations and social commitment evolving into an integral part of business functions, goals and strategy.

SCOPE

This Policy shall apply to all CSR projects/programmes/activities undertaken by the Company in India as per Schedule VII of the Act.

The CSR Policy shall be applicable to the Company including all its subsidiaries (wherever applicable), and all their employees.

The CSR policy of the company shall be implemented by the company in any of the following manner:

1. CSR activities implemented by the Company on its own,

2. CSR activities implemented by the Company through own trust / society or group company trust/society,

3. CSR activities of the Company through an external trust/society.

DEFINITIONS

1. Act means The Companies Act, 2013

2. “Agency” (or Agencies) means any Section 8 Company or a registered trust/ society/NGO/ institution, performing social services for the benefit of the society and including a registered trust/society/ NGO/institution/ Section 8 Company which is formed by the Company or its holding or subsidiary company/companies.

3. “Approved Budget” shall mean the total budget as approved by the Board of the Company upon the recommendation of the CSR Committee, which is to be utilized for CSR Projects.

4. “Board” shall mean the Board of Directors of the Company.

5. “Company” shall mean SHREEJI INFRASPACE PRIVATE LIMITED

6. Corporate Social Responsibility (CSR) means and includes but is not limited to: Projects or programs relating to activities specified in Schedule VII to the Companies Act, 2013

7. “CSR Annual Plan” shall mean the annual plan detailing the CSR expenditure for the year.

8. CSR Committee means the Corporate Social Responsibility Committee of the Board referred to in Section 135 of the Act.

9. “CSR expenditure” means all CSR expenditure of the Company as approved by the Board upon recommendation of the CSR committee, excluding the contribution of any amount directly or indirectly to any political party under section 182 of the Act.

10. CSR Policy relates to the activities to be undertaken by the Company as specified in Schedule VII to the Act and the expenditure thereon.

11. “CSR Officer” shall mean the whole time person engaged by the Company for activities envisaged in the CSR Policy; having due comprehension, understanding, drive and passion for such activities and designated as such.

12. “Financial Year” shall mean the period beginning from 1^st April of every year to 31^st March of the succeeding year.

1. Any profit arising from any overseas branch or branches of the Company, whether operated as a separate company or otherwise and

2. Any dividend received from other companies in India, which are covered under and complying with the provisions of Section 135 of the Act Provided that net profit in respect of a financial year for which the relevant financial statements were prepared in accordance with the provisions of the Companies Act, 2013 shall not be required to be re-calculated in accordance with the provisions of the Act.

13. Net Profit means the net profit of the Company as per its financial statement prepared in accordance with applicable provisions of the Act (Section 198), but shall not include the following viz;

• Any profit arising from any overseas branch or branches of the Company, whether operated as a separate company or otherwise and
• Any dividend received from other companies in India, which are covered under and complying with the provisions of Section 135 of the Act

14. “Trust” means a Trust created and registered under the India Trusts Act,1882

COMPOSITION OF COMMITTEE

According to the provisions of law, a private company having only two directors on its board may constitute its CSR committee with two such directors.

The Corporate Social Responsibility Committee as approved by the resolution passed at meeting of Board of Directors shall comprise following board members:

1. SHRI JIGARBHAI SHAILESHBHAI PATEL
2. SHRI AMIT SHAILESHKUMAR PATEL
3. SHRI SHAILESHKUMAR JAYANTILAL PATEL

FUNCTIONS / ROLES OF CSR COMMITTEE

1. Formulate and update CSR Policy, for approval by the Board of Directors.

2. Approve projects that are in line with the CSR policy of the Company.
3. The CSR Committee shall monitor the implementation of the CSR Policy and CSR Plan.

4. Recommend the CSR expenditure to the Board of Directors.

5. Meet at leastonce a year to monitor CSR policy and review the progress made.

6. Any other matter directly or indirectly related to CSR compliance’s

7. discharge of CSR functions of the Company, the CSR Committee shall be directly responsible to the Board for any act that may be required to be done by the CSR Committee in furtherance of its statutory obligations, or as required by the Board

IMPLEMENTATION OF CSR PROJECTS:

The Company shall implement the identified CSR Projects by the following means:

A.Direct Method

1.The Company may itself implement the identified CSR Projects presently within the scope and ambit of the Thrust Areas as defined in the Policy;

 

2.The Company may also implement the identified Projects presently through its Trust or Society which is involved in CSR activities, within the scope and ambit of the Thrust Areas as defined in the Policy.

 

3.The CSR Officer may engage external professionals/firms/agencies if required, for the purpose of implementation of its CSR Projects.

 

4.The Company may collaborate with other companies, including its Group Companies if required, for fulfilling its CSR objects through the Direct method, provided that the CSR Committees of respective companies are in a position to monitor separately such CSR Projects.

 

B.Indirect Method

 

1. The Company may implement the identified CSR Projects through Agencies, subject to the condition that:

1. The activities pursued by the Agency are covered within the scope and ambit of Schedule VII of the Act provided

2. The Agency has an established track record of at least three years in undertaking similar programs or projects, and
3. The Company has specified the Project to be undertaken through the Agency which shall preferably be in Thrust Areas, the modalities of utilization of funds on such Projects and the monitoring and reporting mechanism which shall be at least once in three months.

2. The Company may collaborate with other companies / trust/ association/ any other implementation agency, including its holding and subsidiary Companies and Group Companies if required, for fulfilling its CSR objects through the indirect method provided that the CSR Committees of respective companies are in a position to monitor separately such Projects.

ROLE OF THE BOARD

1. After taking into account the recommendations made by the CSR Committee, approve the CSR Policy for the Company

2. Ensure that the CSR activities included in this Corporate Social Responsibility Policy are undertaken by the Company.

3. The Board of the Company may decide to undertake its CSR activities approved by the CSR Committee, through a registered trust or a registered society or a Company established under section 8 of the Act by the company, either singly or along with its holding or subsidiary or associate company, or along with any other company or holding or subsidiary or associate company of such other company, or otherwise

Provided that –If such trust, society or company is not established by the company, either singly or along with its holding or subsidiary or associate company, or along with any other company or holding or subsidiary or associate company of such other company, it shall have an established track record of three years in undertaking similar programs or projects/activities;

4. The Board shall ensure that in each financial year the Company spends at least 2% of the average net profits of the company made during the three immediate preceding financial years, calculated in accordance with Section 198 of the Act, in pursuance of its CSR policy. Further, while spending the amount earmarked for CSR activities, preference should be given to local areas and areas around the Company where it operates,

5. As per Section 135 of the Act, the board shall specify the reasons for under spending the CSR amount in the Board’s Report.

CSR PROJECTS, PROGRAMME AND ACTIVITIES

Company shall undertake such projects, programs and activities which are falling within the purview of schedule VII of the Act and as may be amended by ministry from time to time.

MODALITIES OF EXECUTION OF CSR ACTIVITIES

Company may undertake CSR activities as its own or through any or all following agencies:

• A registered trust, society or section 8 companies provided such entity is established by the company.

• A registered trust, society or section 8 companies which is not established by the company provided it shall have an established track record of three years in undertaking similar projects or programs and activities to be undertaken by these entities are those which are specified by the company.

EVALUATION, MONITORING AND REPORTING MECHANISM

The Committee will evaluate the viability of proposals/ programs for CSR initiatives.

The CSR Committee will submit report to the Board. The report would indicate:

• Details of program/activity undertaken during the period;
• Details of outlay, budgeted vs. actual, and reasons of variance;
• Achievement or impact recorded in the society due to such CSR initiatives

Board will do periodic reviews and communicate its observations to the CSR Committee

• The CSR Policy shall be placed on the Company’s Website
• Annual Report on CSR Activities shall be prepared and be attached with Company’s Board Report

The respective CSR personnel will present their annual budgets along with the list of approved CSR activities conducted by the Company to the CSR Committee together with the progress made from time to time as a part of the evaluation process under the monitoring mechanism.

CSR EXPENDITURE

CSR expenditures shall be as required under Section 135 of the Companies Act, 2013 and Companies (Corporate Social Responsibility) Rules, 2014.

The CSR activities undertaken in India only shall amount to CSR Expenditure. CSR expenditure will include all expenditure, direct and indirect, incurred by the Company on CSR Programmes undertaken in accordance with the approved CSR Plan. Moreover, any surplus arising from any CSR Programmes shall be used for CSR. Accordingly, any income arising from CSR Programmes will be netted off from the CSR expenditure and such net amount will be reported as CSR expenditure.

Further, CSR Expenditure shall include all expenditure including contribution to corpus for CSR activities approved by the Board on the recommendation of the CSR Committee but does not include any expenditure on an item not in conformity or not in line with activities which fall within the purview of Schedule VII of the Act.

AMENDMENTS TO CSR POLICY

CSR policy may be amended or revised from time to time after approval of Board of Directors upon recommendations of CSR Committee. If required Chairman of the CSR committee shall be authorised to issue necessary clarification as regard to CSR policy and shall be tabled before next meeting of the committee for information and rectification.

OTHER ASPECTS

CSR REPORTING

The Board Report of a Company shall include an Annual Report on CSR containing particulars specified in Annexure to the CSR Rules as per the prescribed format.

FREQUENCY OF MEETINGS

The meetings of the Committee could be held at such periodic intervals as may be required.

QUORUM

Minimum two (2) members shall constitute a quorum for the Committee meeting.

CHAIRMAN

In the absence of the Chairman, the members of the Committee present at the meeting shall choose one amongst them to act as Chairman.

MINUTES OF THE COMMITTEE MEETING

Proceedings of all meetings must be recorded in form of Minutes and signed by the Chairman of the Committee and tabled at the subsequent Board and Committee meeting.

DISCLAIMER

This CSR policy contains forward-looking statements, which may be identified by their use of words like ‘plans’, anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘will’, ‘projects’, or other words of similar expressions as they related to the Company or its business are intended to identity such forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to statements about the Company's strategy for growth, development, market position, expenditures etc. are forward-looking statements.

Forward-looking statements are based on certain assumptions and expectations of future events. The Company cannot guarantee that these assumptions and expectations are accurate or will be realised. The Company undertakes no obligations to publicly update or revise forward-looking statements, whether as a result of new information, future events, or otherwise. Actual results, performances or achievements could differ materially from those expressed or implied in such statements.

Therefore as a matter of caution, undue reliance on the forward looking statements should not be made as they speak only of their dates. The aforesaid CSR policy should be read in conjunction with the developments occurred in the Company from time to time.