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Corporate Social Responsibility Policy

  
1.0  PROLOGUE:   
Pursuant to the Section 135 of the Companies Act, 2013 (hereinafter refer to as “the Act”) read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, the Company is required to adopt the Corporate Social Responsibility (CSR) policy in the organization which is expected to be beneficial to different class of people such as children, women, uneducated and underprivileged towards which such CSR activities may be focused.  
  
Our Company being a Pharmaceutical Company believes in the policy of providing health care and more specifically preventive health care that is beneficial to the needy of the society who cannot afford expensive medical treatment at large by providing timely and advanced healthcare and other medical facilities to all in its local area of operation with a vision to create an environment which enables to execute the diction HEALTH FOR ALL.   
  
Produced here below is the “Corporate Social Responsibility (CSR) Policy” to contribute to the social and economic development of the communities in which we operate. In doing so, the Company will build a better, sustainable way of life for the weaker sections of society and raise the country's human development index.  
  
2.0  STATUTORY REQUIREMENT   
  
1 The Board of every Company shall ensure that the Company spends, in every financial year, at least 2% of the average net profits of the Company made during the 3 ( three) immediately preceding financial years, in pursuance of its Corporate Social Responsibility Policy.   
  
Provided that if the Company fails to spend such amount , the Board shall, in its report made under Clause (o) of Sub-section 3 of Section 134 , specify the reasons for not spending the amount.  
  
Net Profit means the net profit of the Company as per its financial statement prepared in accordance with the applicable provisions of the Act, but shall not include the following;  
  
a) Any profit arising from any overseas branch or branches of the Company, whether operated as a separate Company or otherwise; and  
  
b) Any dividend received from other Companies in India which are covered under and complying with the provisions of Section 135 of the Act.  
  
2 The Board of Directors of the company shall, after taking into account the recommendations of CSR Committee, approve the CSR Policy for the Company.  
  
3.0  RECOGNIZED ACTIVITIES FOR THE PURPOSE OF CSR   
The activities as specified in Schedule VII of the Companies Act, 2013, that can be undertaken by a Company to fulfil its CSR obligations are mentioned below:  
  
1. eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation including contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of Sanitation and making available safe drinking water;   
  
2. promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;   
  
3. promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups;   
  
4. ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources and maintaining quality of soil, air and water including contribution to the clean Ganga Fund set-up by the Central Government for rejuvenation of the river Ganga;   
  
5. protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional arts and handicrafts;   
  
6. measures for the benefit of armed forces veterans, war widows and their dependents;   
  
7. training to promote rural sports, nationally recognised sports, Paralympic sports and Olympic sports;   
  
8. 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;   
  
9. contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government;   
  
10. Rural development projects.   
  
11. Slum area development – any slum areas declared as such by the Central or State Government or any other competent authority under any law for the time being in force.  
  
Following activities shall not be considered under the CSR activities.   
  
  
a) CSR Projects or Programs or Activities that benefit only the employees of the Company and their families.  
  
b) Activities undertaken outside India.   
  
c) Contribution, directly or indirectly, to any political party .   
  
4.0  CSR POLICY OF THE COMPANY   
The Company as an initial step in its endeavour towards CSR will address by providing healthcare including preventive healthcare to the poorer and under privileged sections of the Society who don’t have the access and cannot afford expensive medical treatment. In terms of the applicable provisions of the Companies Act, 2013 the Company may directly undertake the CSR activities and or through a Company established trust, registered society or through a registered trust or registered society. If the Company decides to undertake CSR activities through a registered trust or registered society then such society or trust shall have an established track record of three years in undertaking similar programs or projects.  
  
The Company may also undertake CSR activities by contribution to:  
  
1. 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;   
  
2. Rural development projects including providing safe drinking water;   
  
3. Slum area development – any slum areas declared as such by the Central or State Government or any other competent authority under any law for the time being in force and other activities as specified in Schedule VII.  
  
5.0  CORPORATE SOCIAL RESPONSIBILITY (CSR) COMMITTEE:   
The Company has constituted a Corporate Social Responsibility Committee (hereinafter referred as “the CSR Committee”) as per the provision of Section 135 of the said Act.   
  
The Committee consist of following members:   
  
Sl. No.Name of the PersonPosition
1Mr. Shinya KatafuchiChairman
2Mr. Narasimhan Seshadri Member
3Mr. Pankaj GargMember
  
  
COMMITTEE’S RESPONSIBILITIES AND AUTHORITY:   
  
a. The Committee shall formulate and recommend to the Board, a Corporate Social Responsibility Policy which shall indicate the activities to be undertaken by the Company as per Schedule VII of the Companies Act, 2013.  
  
b. The Committee shall recommend the amount of expenditure to be incurred on the activities.  
  
c. The Committee will monitor the activities under CSR.  
  
e. The Board of Directors shall include in the Annual Report their appraisal of the CSR activities undertaken.   
  
6.0  POLICY REVIEW & FUTURE AMENDMENT   
This policy shall remain in force unless modified by the Corporate Social Responsibility (CSR) Committee and approved by the Board.