CSR Policy

INTRODUCTION

The Companies Act, 2013 (hereinafter referred to as “the Act”) under Section 135 has introduced the concept of Corporate Social Responsibility (CSR). It mandates qualifying companies to comply with the provisions of Section 135 of the Act and Companies (Corporate Social Responsibility Policy) Rules, 2014 (hereinafter referred to as the CSR Rules). Section 135 of the Act and the CSR Rules are effective from April 01, 2014.

At the outset, CSR activities at Envision Scientific is already in existence for the benefit of the employees and their immediate family members in the areas of extending a loan to employees, participating in festivals and award, etc.
It is recognized that integrating social, environmental, and ethical responsibilities into the governance of businesses ensures long-term success, competitiveness, and sustainability.

OBJECTIVE

The main objective of CSR policy is to make CSR a key business process for the sustainable development of society. Envision Scientific will act as a good corporate citizen and aims at supplementing the role of the Government in enhancing the welfare measures of the society within the framework of its policy.

COMPOSITION OF THE CSR COMMITTEE

The CSR Committee consists of three Directors, who shall meet at least twice in a year to discuss and review the CSR activities and policy. The quorum shall be two members are required to be present for the proceeding to take place. The CSR Committee may delegate its responsibility to any senior or key managerial person as and when deemed fit.

SCOPE

In accordance with the CSR objective and the specified activities under the Act read with Companies (Corporate Social Responsibility Policy) Rules, 2014 (the “CSR Rules”), and any amendment(s) thereof, the CSR activities of the Envision Scientific will have the thrust in areas like a contribution for the welfare of society in the covid-19 pandemic, promoting art, promoting education by organizing campaign and distributing books among children or to carry out any other activities or projects undertaken within the broad framework of Schedule VII of the Companies Act, 2013

ROLE OF BOARD OF DIRECTORS OF THE COMPANY

  • Approving the CSR policy as formulated by the CSR Committee from time to time.
  • To allocate 2% of the average Net Profit made by the Company during immediately preceding three Financial Years.
  • Ensuring CSR reporting as per the Act and CSR Rules.
  • To display contents of CSR policy on the Company’s website.
  • Surplus arising out of the CSR initiatives shall not form part of the business profits of the Company.

AMENDMENTS TO THE POLICY

The Board of Directors on its own and/or on the recommendation of the CSR committee can amend its policy as and when required deemed fit. Any or all provisions of CSR Policy would be subjected to revision/amendment in accordance with the regulations on the subject as may be issued from relevant statutory authorities, from time to time.

 

Translate »