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Corporate Social Responsibility | ANSATA | India

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POLICY ON CORPORATE SOCIAL RESPONSIBILITY

I . Preamble

Ansata Computer Systems Private Limited, the Company’s CSR Policy has been framed in accordance with Section 135 of the Companies Act 2013 and the Rules framed thereunder. The Policy shall apply to all CSR programs, activities undertaken or sponsored by the company or executed through any other Trust/Society or implementation partner permitted in the Act or any other fund set up by the Government.

The CSR Policy shall be guided by the company’s corporate vision and the aspirations to be socially responsible and contributing to the welfare of all communities at large. The Company’s CSR Programs and activities shall be carried out as per the focus areas enlisted in the Schedule VII of the Companies Act 2013.

The company recognizes the importance of good corporate governance and corporate social responsibility in promoting and strengthening the trust of its shareholders and stakeholders.

II . Purpose

The primary purpose of the Company’s CSR philosophy is to make a meaningful and measurable impact in the lives of the economically, physically and socially challenged communities in rural and urban areas through an integrated approach of development which focuses on creating sustainable livelihood, promoting education and skills development, creating awareness amongst the public at large on promoting environmental sustainability, and supporting health and sanitation initiatives.

In order to achieve this purpose, the company shall undertake the social responsibility activities as described in the Schedule VII of the Companies Act 2013.

III . Mission

The Company shall promote and support the programs and activities in the following areas. 

  1. Promote poverty alleviation programs, eradicating extreme hunger and poverty in order to reduce inequalities faced by socially and economically backward sections of the society through an integrated approach of interventions in the areas of sustainable livelihood generation. 
  2. Promote education and skills development through initiatives on vocational and livelihood enhancing skills development programs, and programs aimed to nurture the talent of children and students in various fields.
  3. Promote gender equality and empowering women through education, providing opportunities to women for learning occupational skills, self-employment and encouraging women to take part in various socio-economic activities in order to improve their quality of life.
  4. Promote programs and activities aiming to reduce child mortality and improving maternal health, healthcare, sanitation and hygiene and public awareness on various social and environmental topics like road and personal safety.
  5. Promote action programs combating human immunodeficiency virus, acquired immune deficiency syndrome, malaria and other diseases especially in rural areas and urban slum areas.
  6. Promote environmental sustainability and ecological balance through sustainable livelihood initiatives focused on natural resource conservation and management, renewable energy and energy efficiency projects, afforestation and plantation programs, and awareness programs. Undertake targeted action programs to reduce pollution in all day to activities of human life.
  7. Promote training, workshops, social activities for employment enhancing vocational skills. Imparting skill development programs for the unemployed and weaker section of the society.
  8. Promote social business projects supporting social causes and engaging with social enterprises who has a proven track record of achieving great social works addressing the needy section of the society.
  9. Promote measures to support victims of natural calamities and other disasters through relief and rehabilitation programs which may include contribution to Prime Minister’s National Relief Fund, or any other fund set up by the Central Government or the State Governments for socio-economic development and relief and Funds for the welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women.
  10. Promote support measures for the benefit of armed forces veterans, war widows and their dependents, widows of armed forces injured in action.
  11. Build the capabilities of the Company’s own personnel as well as that of the executing and implementing agencies through training, conferences and experience sharing programmes for implementation of the above stated welfare measures. 

IV . CSR Committee

The Company shall constitute a CSR Committee for the implementation and monitoring of the Corporate Social Responsibility Policy of the Company. The CSR Committee shall frame the CSR Policy of the company and recommend to the Board for adoption and recommend the sum to be spent every year on the CSR activities of the company adhering to the provisions prescribed under section 135 of the Companies Act 2013. The CSR Committee shall initiate and highlight the vision, mission, thrust areas, and requirements for deployment of the CSR funds and implement programs for social development as per Section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended from time to time. 

The Company’s Corporate Social Responsibility Committee has been constituted with the two  directors of the Company as members.

  1. Mr. Leslie Lean 
  2. Ms. Rani Lean 

The CSR committee shall perform the following functions:

  • Recommend the amount of expenditure for the CSR activities.
  • Monitor CSR activities from time to time.
  • Review the CSR Policy and make necessary amendments as needed.

V . The Budget

  1. The CSR Committee shall recommend to the Board the budget for the year adhering to the provisions relating to annual expenditure on CSR activities as laid down in Section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended from time to time.
  2. The Budget under CSR expenditure shall include all expenditure including contribution to corpus for projects or programs relating to CSR activities approved by the Board on the recommendation of its CSR Committee
  3. The surplus arising out of the CSR projects or programs, or activities shall not form part of the business profit of the Bank.

VI . Execution

All CSR programs, activities shall be executed by-

  1. The Company itself or through a company established under section 8 of the Act or a registered trust or a registered society, established by the company, either singly or along with any other company.  Or
  2. The company shall also implement CSR programs through a company established under section 8 of the Act or a registered trust or a registered society, established by the Central Government or State Government or any entity established under an Act of Parliament or a State legislature.
  3.  The Company may also make contributions to any fund set up by the Government as permitted under the act and the rules.

VII . Governance and Monitoring

1 . Roles and Responsibilities.

 The Board of Directors of the Company shall be responsible for: 

  • Approval of the CSR Policy of the Company. 
  • The Board of Directors of the company shall disclose the contents of such policy in the company’s website.
  • The annual report of the Company shall include a report on the CSR containing particulars as specified in the CSR Rules.
  • The Board shall ensure that it specifies the reasons in its report for not spending the earmarked amount in case the Company does not spend such amount during the financial year.
  • Making change(s) in the constitution of the CSR Committee as deemed necessary.

2 . Monitoring

The Company shall institute a monitoring and evaluation mechanism to ensure that each CSR project has:

  • Objectives developed out of societal needs. 
  • Targets, timelines and measurable parameters wherever possible. 
  • A progress monitoring and reporting framework aligned to the requirements of Section 135 of the Companies Act 2013 and the Rules framed thereunder. 

3 . Reporting Framework

  • The progress of CSR projects and expenditure will be reviewed by the CSR Committee. 
  • The Company will report on CSR performance in its annual report as per the structure and format prescribed in the notified Corporate Social Responsibility Rules. 

4 . Others 

The CSR Committee may choose to select program areas which are included under Schedule VII of the Companies Act, 2013 in addition to those specified in the CSR Policy during the fulfilment of the Company’s CSR objectives as decided by the CSR Committee from time to time. The Schedule VII is annexed with this policy document.

5 . Review of the Policy

The CSR Committee shall review the company’s CSR Policy annually and may amend the CSR Policy as may be required from time to time.

Activities which may be included by companies in their Corporate Social Responsibility Policy Activities.

  1. Eradicating extreme hunger and poverty. 
  2. Promotion of education. 
  3. Promoting gender equality and empowering women.
  4. Reducing child mortality and improving maternal health.
  5. Combating human immunodeficiency virus, acquired immune deficiency syndrome, malaria and other diseases.
  6. Ensuring environmental sustainability. 
  7. Employment enhancing vocational skills. 
  8. Social business projects. 
  9. Contribution to the Prime Minister’s National Relief Fund or any other fund set up by the Central Government or the State Governments for socio-economic development and relief and funds for the welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women and such other matters as may be prescribed