The CSR policy of IIGM Private Limited (‘the Company’) encompasses the Company’s philosophy towards Corporate Social Responsibility and lays down the guidelines and mechanism for undertaking socially useful programs for welfare & sustainable development of the community at large. The following is the summary of the CSR policy of the Company.
1. CSR vision and mission statement
“We will strive to bring about the holistic development of underserved communities in asustainable and impact fulmanner.”
We will leverage our people, expertise and networks to address the needs of the communities that we serve and there by catalyze overall.
2. CSR Policy Objectives
IIGM Private Limited is committed to using its resources to advance education, protect the environment, and enrich community life. Through combination of grants, sponsorships and financial assistance, the company works to improve the quality of life in communities where it does business. The CSR policy of the company has been formulated with the following objectives:
- Serving the community: Giving back to the community and addressing their needs is a key priority for the Company. The Company believes that the progress of the local community should go hand-in-hand with the growth of the Company.
- Ensuring sustainability: The Company wishes to introduce interventions in the communities that address critical needs and can be come sustainable over a period of time.
The CSR policy has been formulated in consonance with section 135 of Companies Act 2013 (‘the Act’) and the Companies (Corporate Social Responsibility) Rules, 2014 (‘the Rules’) as notified by the Ministry of Corporate Affairs.
The Policy shall apply to all CSR projects/programmes undertaken/ to be undertaken by the Company in India asper Schedule VII of the Companies Act,2013.
The salient features of the CSR policy comprise of:
- CSR philosophy of the Company
- Governance structure
- Causes that the Company plans to suppor to vera period of time
4.1 CSR Philosophy
The Company intends to undertake its corporate social responsibility in a strategic manner. The Company will leverage its financial and human resources, networks and expertise to create maximum impact for its stake holders.
4.2 Governance Structure
The Governance Structure of the Company shall comprise of its Board of Directors and CSR Committee.
Each of the above constituents shall have a specific role to play with clearly defined roles and responsibilities.
4.3. Board of Directors
The Board of Directors will, inter alia, be responsible for thefollowing:
- Approve this policy, causes that the Company proposes to support, programs to be undertaken by the Company, modalities of operation and the budget for the activities.
- Try to ensure that the Company, to the extent possible, spends, in every financial year, atleast two percent of the average net profits of the Company made during the three immediately preceding financial years, in pursuance of this policy.
4.4 The Composition of the CSR Committee
The CSR Committee comprises of the following members
Mr. Pavan Kapoor -Chairman of the Committee
Mr. Raghav Sharma -Member
Mr. Arjun Kapoor -Member
Mr. Kartik Kapoor -Member
The CSR Committee will, inter alia, be responsible for the following:
- Formulating a Corporate Social Responsibility Policy which shall indicate the activities to be undertaken by the Company as specified in Schedule VII and recommending the same to the Board for approval.
- Recommending the amount of expenditure to be incurred on the activities referred above.
- Review the Corporate Social Responsibility Policy of the Company from time to time to ensure that it is updated for any change or enhancement in scope and recommend the same to the Board for approval.
4.5 Principal causes supported by CSRactivities and Proposed Program
The Company may take up activities in segments pertaining to Education & Livelihood, Environment protection, Healthcare, Water management and other unforeseen but important activities including disaster relief, etc. as a part of its CSR activities.
Most of the CSR activities of the Company aim to improve the lives of the local community and the Company shall strive to be responsive to the needs expressed by the community, either explicitly orotherwise.
CSR activities include, but are not limited to, the following:
Award cash grants to nonprofit organization, Government and non governmental organizations (NGOs), Prime Minister Relief Fundand other implementation partners with track record, incorporated in India.
The Grants will
- Advance education, especially science, technology, medical and engineering and enhance vocational skills.
- Protect the environment and wildlife; and
- enrich community life by addressing health, hunger, and a variety of other community needs.
- Provide support and infrastructure at each stage of water conservation, water preservation, water re-charge and waste-water treatment.
5. Monitoring Plan
The Company shall lay out a monitoring plan to access the impact generated by its CSR activities by setting up relevant targets to be achieved, implementing a monitoring program and evaluate the impact through appropriate evaluation techniques.
All such impact analysis will also be reported to the CSR Committee and the Board of Directors.
6. Surplus arising out of CSR Projects
The programs that the Company intends to implement will not give rise to any surplus. However, incase a surplus is earned, then such surplus arising out of the CSR projects or programs or activities shall not form part of the business profit of the Company.
The CSR activities of the Company will not include the activities undertaken in pursuance of normal course of business of the Company. Any contribution directly or indirectly to any political party or any religious groups will not be considered as CSR activity.
IIGM Private Limited is committed to ensuring the implementation of the proposed CSR programs in order to bring meaningful and sustainable development of under-served communities. The Company will leave no stone unturned in ensuring that it contributes to the society, which is an integral stakeholder for it.
The CSR Policy may be modified from time to time by the Board of Directors of the Company on the recommendation of the CSR Committee.