CSR Policy

  1. A brief outline on the CSR policy of the company.

  2. Objective

  3. Policy Statement

  4. Policy Framework

  5. Scope

  6. Definitions:

  7. “Act” means the Companies Act, 2013 including any statutory modification or reenactment thereof.
  8. “Board” means the Board of Directors of the Company.
  9. “Board’s Report” shall mean report of the Board of Directors prepared in accordance with section 134(3) of the Companies Act, 2013.
  10. “Company” means M/s Jaipur Rugs Company Limited, a Company registered under the Companies Act 1956 having its Registered Office at G-250, Mansarovar Industrial Area, Jaipur, Rajasthan-302020.
  11. Corporate Social Responsibility (CSR) Activities means the activities includes but is not limited to:a) Projects or programs relating to activities specified in Schedule VII to the Act and includes such projects or programs as may be amended from time to time and as enumerated under this policyb) Projects or programs relating to activities undertaken by the Board of directors of the 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.However, CSR Activities shall not include the activities being undertaken by the Company in its normal course of business.
  12. CSR Committee means the Corporate Social Responsibility Committee of the Board referred to in Section 135 of the Act.
  13. CSR Policy means the Corporate Social Responsibility Policy as set out herein and as amended or modified from time to time.
  14. Net Profit means the net profit of the Company as per its financial statement prepared in accordance with applicable provisions of the Act (Section 198), but shall not include the following viz;Any profit arising from any overseas branch or branches of the Company, whether operated as a separate company or otherwise andAny dividend received from other companies in India, which are covered under and complying with the provisions of Section 135 of the ActProvided 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 shall not be required to be re-calculated in accordance with the provisions of the Act.

  15. CSR Committee

  16. Formulate and recommend to the Board of Directors of the Company, a Corporate Social Responsibility Policy (“CSR Policy”) indicating the activities to be undertaken by the company as specified in Schedule VII of the Act and any amendments therein;
  17. to recommend the amount of expenditure to be incurred on activities referred to in clause (i);
  18. Develop and approve various CSR projects, programs and activities to be undertaken from time to time either directly by the Company or through other entities
  19. Determine modalities of execution of such CSR projects, programs and activities
  20. Undertake all necessary steps to implement the CSR activities
  21. Authorize and approve CSR expenditure from time to time subject to the limits approved by the Board of Directors
  22. Monitor the CSR Policy and activities from time to time.
  23. Carry out all such acts, deeds, matters and things as may be required in connection with aforesaid matters and generally for any matter connected with the CSR policy of the Company
  24. To perform such functions as may be entrusted by the Board of Directors from time to time.

  25. Role of the board

  26. After taking into account the recommendations made by the CSR Committee, approve the CSR Policy for the Company.
  27. Ensure that the CSR activities included in this Corporate Social Responsibility Policy are undertaken by the Company.
  28. The Board of the Company may decide to undertake its CSR activities approved by the CSR Committee, through a registered trust or a registered society or a Company established under section 8 of the Act by the company, either singly or along with its holding or subsidiary or associate company, or along with any other company or holding or subsidiary or associate company of such other company, or otherwise provided that – If such trust, society or company is not established by the company, either singly or along with its holding or subsidiary or associate company, or along with any other company or holding or subsidiary or associate company of such other company, it shall have an established track record of three years in undertaking similar programs or projects/activities;
  29. Ensure that in each financial year the Company spends at least 2% of the average net profits of the company made during the three immediately preceding financial years, calculated in accordance with Section 198 of the Act, in pursuance of its CSR policy. Further, while spending the amount earmarked for CSR activities, preference should be given to local areas and areas around the Company where it operates,
  30. As per Section 135 of the Act, specify the reasons for under spending the CSR amount in the Board’s Report.

  31. CSR Activities:

  32. Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation including contribution to the Swachh Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water.
  33. Promoting education including special education and employment enhancing vocation skills specially among children, women, elderly and differently able and livelihood enhancement projects
  34. Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centers and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups
  35. Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare and agroforestry, 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 river Ganga
  36. Protection of national heritage, art and culture including restoration f buildings and sites of historical importance and works of art; setting up public library; promotion and development of traditional art and handicrafts
  37. Training to promote rural sports, nationally recognized sports, paralympic sports and Olympic sports;
  38. 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;
  39. Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government
  40. Rural Development Projects.

  41. Target Group

  42. CSR monitoring and reporting framework

  43. CSR Expenditure

  44. Disclosure of the policy

  45. CSR Reporting

  46. Miscelleanous