Introduction
Sika India Private Limited has always respected contribution of the society in its growth story. We believe that business enterprise cannot grow without societal resources and such business enterprises are economic organs of the society. It is, therefore, responsibility of every business enterprise to plough back part of its profits in the society. The Company intends to make a positive difference to society and contribute its share towards the social cause of betterment of society and area in which company operates. Sika India Private Limited continues to remain committed in maintaining the highest standards of corporate social responsibility in its business activity by creating a positive impact on the society and by contributing to socio-economic development including measures for improving the quality of life of underprivileged classes of the society. In line with the regulatory expectations, we are putting in place a formal policy as guide towards our social commitment going forward
Policy Objectives
The objectives of the CSR policy is to lay down the guiding principles in undertaking various programs and projects by or on behalf of the company relating to Corporate social Responsibility(‘CSR”) within the meaning of Section 135 of the Companies Act, 2013 read with Schedule VII of the Act and the CSR Policy Rules 2014(“Rules”).
Corporate Social Responsibility committee
Name of Members
The Company has constituted Corporate Social Responsibility Committee(‘the Committee”) comprising of the following two Directors:
Sl. No. Name of Director Category Designation
1. Mr. Nilotpol Kar Managing Director Chairman
2. Mr. Christian Gartmann Director Member
Role of CSR Committee
i) Drafting of the CSR policy and recommend the same to the Board for approval.
ii) Review and recommend any new CSR initiatives to be taken up by the company including the selection/appointment of implementation agencies
iii) Recommend the amount of expenditure to be incurred on the activities referred to in the CSR policy.
iv) Review and recommend the CSR report to be included in the board’s report.
v) Review and recommend any amendments to be made in the CSR policy of the Company.
vi) To carry such other functions as may be delegated to it by the board relating to CSR activities of the Company.
CSR Activities
i) Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water.
ii) Promoting education, including special education and employment enhancing vocation skill especially among children, women, elderly, and the differently abled and livelihood enhancement projects.
iii) 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.
iv) 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.
v) Protection of national heritage, art and culture including restoration of building and sites of historical importance and work of art; setting up public libraries; promotion and development of traditional arts and handicrafts.
vi) Measures for the benefit of armed forces veterans, war widows and their dependents
vii) Training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sports.
viii) Contribution to the Prime Minister National Relief fund or any fund set up by the Central government for socio-economic development and relief and welfare of the Schedule Castes, Scheduled Tribes, other backward classes, minorities and women.
ix) Contribution or funds provided to technology incubators located within academic institutions which are approved by the Central Government.
x) Rural development projects.
xi) Any other measures with the approval of Board of Directors on the recommendation of CSR Committee subject to the provisions of Section 135 of the Companies Act, 2013 and rules made thereunder.
Budget for CSR Activity & CSR Expenses
The Company shall allocate the budget for CSR activities. The minimum budgeted amount for a financial year shall be 2% of the average net profit of three immediate preceding financial years. The Company may allocate more amount than the amount prescribed under section 135 of the
Companies Act, 2013, for the CSR activities for any financial year. The Committee shall calculate the total fund for the CSR activities and recommend to the Board for the approval. The Board shall approve total fund to be utilized for CST activity for respective financial year.
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, but does not include any expenditure on an item not in conformity or not in line with activities which fall within the approved CSR activities.
Identification of activities/projects
Out of approved CSR activities, the Committee shall decide which activity/project should be given priority for the respective financial year. While arriving at the decision of the activity to be undertaken for the respective year, the Committee shall analyze the basic need of the community/area in which the Organization operates or at the place where its registered/corporate office/factories is situated. The Committee shall record its findings and priorities the CSR activities.
Implementation process
After prioritizing the activity the Committee shall finalize the detail implementation project/ programme, including planning for expenses against the total budget allocated for CSR activities.
Monitoring of CSR Activities
CSR committee of the company will be responsible for the monitoring of various CSR projects or programs undertaken by the company directly or indirectly. The Committee shall ensure that
i) Company undertakes the CSR activities as provided in the CSR policy.
ii) The projects/programs are implemented as per the program approved by the board.
iii) The budget allocated for each of the project is utilized for the projects as per the approved plans.
iv) Company shall provide necessary resources and human capital for implementation and the effective monitoring of the CSR projects and programs as may be directed by the CSR Committee.
Exclusion from CSR
The following activity shall not form part of the CSR activities of the Company
i) The activities undertaken in pursuance of normal course if business of the Company.
ii) CSR projects/programs or activities that benefit only the employees of the Company and their families.
iii) Any contribution directly/indirectly to political party or any fund directed towards political parties or political causes.
iv) Any CSR projects/programs or activities undertaken outside India.
Applicability
The CSR policy of the company will be applicable from the date of approval of the policy in the Board meeting i.e. 23/05/2019
Amendment of CSR policy
The CSR policy of the company may be amended at any time by the
board of the Company on the recommendation of the CSR Committee.
Reporting of CSR Policy
The Company shall publish its annual report on CSR activities in its
Directors Report in the manner prescribed under the Companies Act 2013 and the
CSR Rules. This policy will also be available on the Company’s website. The
Company shall communicate the CSR activities to shake holders as per the
regulatory requirements.
Reporting to Board
The committee will take approval from board before making any CSR
activities and reporting the progress of such CSR activities at next board
meeting.
Compliance with Companies Act 2013
Our Corporate Social Responsibility policy conforms to Section 135
of the Companies Act, 2013 on Corporate Social Responsibility as spelt out by
the Ministry of Corporate Affairs, Government of India.
Project Approved By Board
CSR Expenditure During 2021-22 period
Prime Minister’s National Relief Fund : Rs. 56,00,000/-
CSR Expenditure During 2022-23 period
Prime Minister National Relief Fund: Rs. 1,08,00,000/-
Computer Shiksha : Rs. 16,00,000/-