CORPORATE SOCIAL RESPONSIBILITY POLICY

A. PREAMBLE:

Kunal Structure (India) Private Limited is "AA" class Certified Government Contractor Company, having project of construction of Road, Building, Bridge, Canal, Irrigation, Water and Drainage etc all over India. The Company has been early adopter of the Social Responsibility activities in various Socio-economic areas. The Company works towards women welfare, under privileged Children education, Health Care, Handicapped Welfare, Animal Welfare, donation at education trust etc. The Company's Focus has always been to contribute to the sustainable development of the Society and environment, and to make our planet better place for future generation.

Constitution of a Corporate Social Responsibility Committee of the Board and formulation of a Corporate Social Responsibility Policy has become mandatory under the Companies Act, 2013. Accordingly, our Company has formulated this CSR Policy which encompasses its philosophy and guides its sustained efforts for undertaking and supporting socially useful programs.

B. OBJECTIVE:

The Company's aim is to build a nation towards better than best by awareness in the society through education, women empowerment, Health care, sanitation and hygiene, Computer skill programs, Dowry less marriage and other motivational programs and activities as specified in Schedule-VII of the Companies Act, 2013.

To engaged with well established and recognized programs and Trust.

C. BOARD LEVEL CSR STRUCTURE :

In line with Section 135 of the Companies Act, 2013 and rules made thereunder, a CSR Committee has been formed by the Board of Directors. The Composition of the CSR Committee is as under:

SR. NO. NAME OF DIRECTOR STATUS DESIGNATION
1 Arvindbhai A. Domadia Chairman & Managing Director Chairman
2 Kunal A. Domadia Director Member

D. DUTY OF THE COMMITTEE:

  • To Formulate, Update CSR Policy and approved by the Board.
  • Recommending to the Board the Activities/Programs to be undertaken under CSR Policy and new area to extend the CSR activities.
  • To recommend Expenditure of CSR activities and approval of the same.
  • To meet at periodical interval to observe and check the progress of the activities and keep that under systematic review.
  • To ensure that the CSR Policy and finalized Annual Plan is displayed on the Company’s website.

E. DEFINITIONS :

In this Policy, unless the context otherwise requires;

  1. “Act” shall mean the Companies Act, 2013 including any modifications, amendments or re-enactment thereof.
  2. “Rules” shall mean the Companies (Corporate Social Responsibility) Rules, 2014, including any modifications, amendments or re-enactment thereof.
  3. “Financial Year” shall mean the period beginning from 1st April of every year to 31st March of the succeeding year.
  4. “Net Profits” shall mean the net profits of the Company as defined under the Act and the Rules based on which a specific percentage for CSR expenditure has to be calculated.
  5. “Company” shall mean Kunal Structure (India) Private Limited.
  6. “Group Companies” shall mean holding, subsidiaries and associates of the Company.
  7. “Agency” or “Agencies” shall mean any Section 8 Company under the Act or a registered trust/society/Non-Government Organisation/ institution performing social services for the benefit of the society at large.
  8. “Board” shall mean the Board of Directors of the Company.
  9. “Approved Budget” shall mean the total budget as approved by the Board of the Company, which is to be spent or utilized for CSR activities.
  10. “Annual Plan” shall mean the annual planned CSR expenditure for the year.
  11. “CSR Committee” shall mean the Corporate Social Responsibility Committee as constituted by the Board of Directors of the Company in accordance with the Act and the Rules made there under, comprising of three or more Directors, out of which, at least one director shall be an Independent Director.
  12. “CSR Officer” shall mean a person engaged by the Company to assist the CSR Committee to implement the CSR activities envisaged under the Policy.
  13. “CSR Policy” shall mean the Corporate Social Responsibility Policy of the Company, which covers the yearly activities undertaken by the Company under the policy and the CSR Expenditure thereon.
  14. “CSR Activities” shall mean all the Corporate Social Responsibility activities/ programs/ initiatives of the company, either ongoing or new, including but not limited to green belt/ environmental protection / ecological balance / slum rehabilitation / education / sports etc., and those specified in Schedule VII to the Act (as amended from time to time) at corporate office and project offices of the Company wherever located, as recommended by the CSR Committee and approved by the Board.
  15. “CSR Expenditure” shall mean all CSR expenditure as recommended by the CSR Committee and approved by Board of Directors including the following;
    1. Contributions to CSR activities which shall be implemented and/ or executed by the Company.
    2. Any other contributions covered under Schedule VII to the Act.
  16. “Thrust Areas” shall mean the areas or activities ascribed to them in this Policy, as amended by the CSR Committee, from time to time.
  17. “Trust” shall mean a trust formed and registered under the Indian Trust Act, 1882 and under the Income Tax Act, 1961 for those states where registration of trust is not mandatory and includes a trust jointly formed and registered by the Company with all or any of its Group Companies.

Words and expressions used and not defined in the Policy shall have the same meanings respectively assigned to them in the Act and / or Rules.

F. THRUST AREAS :

The CSR Policy focuses on social, economical, environmental need of the society, through this policy, we can serve in broad manner through various strategy:

  • Hunger, Poverty, Malnutrition & Health
  • Education
  • Women Empowerment and Welfare
  • Animal Welfare
  • Rural Development Projects
  • Environmental Sustainability

G. GOVERNANCE :

The CSR Policy focuses on social, economical, environmental need of the society, through this policy, we can serve in broad manner through various strategy:

  • This CSR Policy will be implemented from the Financial Year 2015-2016
  • The Company may undertake the CSR Activities, as per its Stated CSR Policy as Projects or Programs or Activities, excluding activities undertaken in pursuance of its normal course of business.
  • The Company may also implement the identified projects presently through Registered Trust or Society within the scope and ambit of the thrust Areas as defined in the policy.
  • The CSR Officer may engage external professionals/ Firms/ Agencies if required, for the purpose of implementation of its CSR Projects, Subject to condition that Activities pursued by the such Agencies are covered within the Scope and ambit of Schedule VII of the Act provided and they should have track record of at least three years in undertaking similar programs or projects.
  • The Company may collaborate with other Companies, including its Holding, Subsidiary & Group Companies if required, for fulfilling its CSR Objects, provided that the CSR Committees of respective companies are in a position to monitor separately such CSR Projects.
  • Accordingly Company under assistance of CSR Committee implementing its CSR Activities, Programs and execution of initiative as per defined Guidelines. The CSR Committee regularly Report the progress of deployed initiatives.

H. EXPENDITURE NOT COVERED OR RECOGNISED:

In terms of the Rules, the following contributions shall not be considered as CSR Expenditure;

  • Contributions of any amount, whether directly or indirectly, to any political party or any person associated with a political party.
  • Amount spent, whether directly or indirectly, for the benefit of employees of the Company, its Subsidiaries and Associates and their families.
  • Expenses incurred by the Company for the fulfillment of obligations any act/statute of regulations (such as labour laws, land acquisition Act etc.)
  • Expenses incurred by the Company for one of events such as marathons / awards charitable contribution / advertisement / sponsorships of TV programs etc.
  • Other contributions / expenses not recognized under the Act / Rules as amended or modified, from time to time.

I. FUNDING AND ALLOCATION :

Following is the mode of funding and allocation of area wise planned expenditure for the CSR activities

  • The Company shall, in every financial year, contribute some amount as CSR Expenditure.
  • In the absence of Net Profits in any financial year, the Company endeavors to spend such feasible amount as it may decide.
  • The CSR Committee shall prepare its annual planned expenditure, for a financial year, for the CSR activities including the thrust areas and manner of implementation etc., and submit the same for approval of the Board.
  • In the event, the Company is unable to spend such amount in any given financial year, the Board shall specify the reasons for the same in its report to the shareholders in terms of Section 134(3)(o) of the Act.