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CSR Policy

Corporate Social Responsibility (CSR) Policy

 

HLS ASIA LIMITED

                                                                                     

Revised Corporate Social Responsibility (CSR) Policy

(Approved by Board on 20th June, 2019)

 

Company may undertake any one or all of the following CSR Projects or programs falling under the purview of schedule VII of the Companies Act, 2013.

(I) Contribution / Donation for Educational Assistance to under-privileged children

Company may contribute / donate such amount as decided by Company’s Management Team from time to time, within the budget approved by CSR Committee, to HLSA Children Education Society (HLS-CES), New Delhi.  This Society is registered with Registrar of Societies, South District, Government of NCT of Delhi under Registration no. S/318/Distt. South/2011 and has been allowed Income tax   exemption vide Ref. no. DEL-HR21545 20092011-729 and its PAN No. is AAAAH5787L. The objective of the Society includes providing educational assistance to the poor children by mode of school fee, school uniform, books, food, clothes etc. and to do such other things/acts/activities which are necessary and which may be incidental or conducive to the attainment of the objective of the society.

Additionally Company may further contribute such amount as decided by Company’s Management to HLSA Children Education Society or directly to Empowering Mind also a registered society for providing educational assistance / scholarship to deserving and poor children of Arthala School (Unit of Empowering Mind) & such other similar societies, trust, Section 8 Company identified by HLS Children Education Society or Company to enable such students to pursue education from Class VI to Class XII in another school, subject to certain terms & conditions as finalized by HLSA Children Education Society and / or Management Team of Company, from time to time within the budget approved by CSR Committee. 

If required, Company may, within the budget approved by CSR Committee, contribute / donate for similar purpose to any other School / Project, as approved by Company’s Management from time to time.

(II)     Donation to eligible societies/ Trust/ Section 8 Company / projects related to Health Care   including preventive health care/Environmental sustainability/ ecological balance/ protection of flora and fauna, Conservation of natural resources and maintaining quality of soil, air and water/Tree Plantation and other projects specified in Schedule VII of the Companies Act, 2013:-

(a) If so requested by HLS CES, Company may donate such amount as decided by Company’s Management from time to time, within the budget approved by CSR Committee, for projects related Environmental sustainability/ ecological balance/ protection of flora and fauna, Conservation of natural resources and maintaining quality of soil, air and water/Tree Plantation and other projects specified in Schedule VII of the Companies Act, 2013.

(b) Company may donate such amount as decided by Company’s Management Team from time to time, within    the budget approved by CSR Committee, to following societies / projects:

 (i) Life Care Society, Dehradun: This Society is registered with Registrar of Societies, Uttarakhand under Registration no. 19228-D/163/2008-09 and has been allowed Income Tax exemption vide Ref. No. C.No.19(52)/Dehradun/2007-08/12856 and its PAN No. is AAATL3897L. The objective of the Society mainly includes providing the medical facility to the poor and the under privileged segment of the Society at their door step.

(ii) Anugraha Drishtidaan: This Society is registered with Registrar of Societies under the Society Registration Act and is also registered under Section 12A and Section 8OG of Income Tax Act 1961 for Tax relief. It is working in 21 States of India mostly in rural, backward and slum areas providing preventive and curative treatment to people suffering from eye ailments with an aim to eliminate avoidable blindness with special care to poor, neglected, women and children.

(c) Company may also contribute additionally such amount as decided by Company’s Management Team from time to time,, within budget approved by CSR Committee, to any other Society/ Trust/ Section 8 Company / Project related to Health-care, including preventinve health care/environmental sustainability/ ecological balance/ protection of flora and fauna,Conservation of natural resources and maintaining quality of soil, air and water/Tree Plantation and other projects specified in Schedule VII of the Companies Act, 2013. as approved by & CSR Committee, from time to time.

(III) Additional Projects / activities :- Company may  consider spending / contributing  amounts in any of the following additional CSR Projects / activities, within budget approved by CSR Committee :-

a) Contributing for disaster relief.

b) Contributing to Prime Minister’s National Relief Fund/Swach Bharat Kosh/ Clean Ganga Fund/ Any other fund set up by the central govt. for socio economic development and relief and welfare of the schedule caste, tribes, other backward classes, minorities and women.

c) Join hands with clients ( e,g. Cairn / ONGC/OIL India) in their CSR projects. 

d) Any other project /social service / donation permissible as per Act/Rules in consultation with Management Team & CSR Committee.

(IV) General rules applicable to all of the above-

(a) The CSR projects / programs / initiatives, to be undertaken must fall within the purview of the Schedule – VII of the Companies Act, 2013 (as modified from time to time).

(b) Company may recruit a suitable full time / part time employee/retainer to do administrative / co-ordination / Reporting etc. work & oversee the timely & smooth implementation of CSR Projects / Activities.

Provided the expenditure including expenditure on administrative overheads shall not exceed five percent of total CSR expenditure of the company in a financial year.

(c) Section 8 company or trust or society identified to whom the contribution need to be made shall have an established track record of three years in undertaking similar programs or projects in projects or programs specified by Company to be undertaken.

(d) In an event where Company makes any surplus or profit from pursuing the CSR projects / programmes or activities, these will not form part of the business profit of Company.

 (e)Management team shall ensure that Company incurs CSR expenditure judiciously and for genuine requirements etc. and not to merely meet the target.

Composition of CSR Committee:

Sl. No.

Name of Director

Nature of Directorship

Designation

1.

Mr. Savmit Grover

Non-Executive Director

Chairman of Committee

2.

Mr. Arup Deb Barma

Non-Executive Director

Member of Committee

3.

    Mr. Rajeev Grover            

Managing Director

Member of Committee