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I.
Name
The Policy is called the "MTR Foods Private Limited- Corporate Social Responsibility (CSR) Policy"
II.
Vision statement
To Integrate MTR Social and environmental responsibilities in a manner to ensure sustainability in operations and relationships with Key Stakeholders and Communities
III.
Definitions
"Act" means the Companies Act, 2013 as amended till 2017
"Corporate Social Responsibility (CSR)" means and includes but is not limited to
Projects or programmes relating to activities specified in Schedule VII to the Act or
Projects or programs relating to activities undertaken by the board of directors of a Company in pursuance of recommendations of the CSR Committee of the Board as per declared CSR policy of the company subject to the condition that such policy will cover subjects enumerated in Schedule VII of the Act.
"CSR Committee" means the Corporate Social Responsibility Committee of the Board referred to in section 135 of the Act.
"CSR Policy" relates to the CSR outlook of the Company and the activities to be undertaken by the company in areas of subject, specified in Schedule VII to the Act and the expenditure thereon, excluding activities undertaken in pursuance of normal course of business of a company.
"Net profit" means the net profit of a company as per its financial statement prepared in accordance with the applicable provisions of the Act, but shall not include the following, namely :-
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:
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, 1956, (1 of 1956) shall not be required to be re-calculated in accordance with the provisions of the Act.
IV.
CSR Policy requirements as per the Companies Act, 2013 and notified Rules
It may be noted that the term "CSR Policy" as used in the Act and the Rules notified on February 27, 2014 requires the following to be included:
"A list of CSR projects or programs which a company plans to undertake falling within the purview of Schedule VII of the Act, specifying modalities of execution of such projects and programs and implementation schedules for the same; and
Monitoring process for such programs provided that the CSR activities shall not include the activities undertaken in pursuance of normal course of business of the company.
The surplus arising out of CSR projects or programs or activities shall not form a part of the business profits of a company."
V.
Purpose of CSR Activities of MTR Foods Private Limited
While we will endeavour to achieve our larger objective of community empowerment, our primary focus will be "Eradicating Hunger and Poverty", "Promotion of Education" and "Rural development". This Includes Providing food for School Children, Providing Infrastructure in schools and focus on Rural development
VI.
Funds
At least two per cent in every financial year, of the average net profits of the company made during the three immediately preceding financial years shall form the Funds available for implementation of CSR projects.
VII.
Sectors and issues
The company's CSR activities will focus on the sector and issues relating to 'promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects.
Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water.
Training to promote rural sports, nationally recognised sports, Paralympics sports and Olympic sports.
Contribution to the Prime Minister's National Relief Fund or any other fund set up by the Central Government for socio-economic development and relief and welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women.
Rural development projects.
In addition, the Company shall respond to any events that demand community rehabilitation and empowerment to the extent feasible meaningfully.
VIII.
Geographies and target communities
The Company would seek to utilise its CSR Funds Preferably in Karnataka where the Company's Factory is Located and Major Sourcing and Sales are done from the state as a whole to benefit from its CSR projects but are open to fund other projects as are felt appropriate in other states too with the target communities being the socially and economically marginalized groups or the society at a large for a bigger cause affecting the whole society.
IX.
Implementation Structure
The CSR activities shall be undertaken either directly or through one or more registered trusts or societies with an established track record of three years in undertaking similar programs or projects.
The Company shall specify the project or programs to be undertaken through these entities, the modalities of utilization of funds on such projects and programs and the monitoring and reporting mechanism.
The CSR projects or programs or Activities will be undertaken in India only
The Company shall not contribute any amount directly or indirectly to any political party.
Any surpluses arising out of CSR projects or programmes or activities shall not form part of the business profits of the Company.
X.
Monitoring mechanism
Each of the CSR projects and programmes would have clearly defined output, outcome and process indicators which will have to be reported on at specified frequencies, which will be at least bi-annually.
All projects and programmes will be monitored by the company CSR taskforce, based on these reports and regular field visits. The monitoring process will cover both programme and financial reviews.
The CSR Committee will receive quarterly progress reports of all CSR activities of the company
XI.
Composition of the CSR Committee
The members of the CSR Committee are as follows:
Chairperson: Mr. Sanjay Sharma
Member: Ms. Helena Geirtz
Member: Mr. Are Nakkim
XII.
Display of CSR activities on Company's website
The annual report of the CSR activities along with the contents of the CSR policy of the Company shall be displayed on the Company's website.
