CORPORATE SOCIAL RESPONSIBILITY POLICY

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  1. Introduction

 a)    The term ‘Company’ or ‘PTL’ herein this Policy document, refers to PODDAR TYRES LIMITED, having its registered office at 5D, Court Chambers, 35, New Marine Lines, Mumbai 400 020.

 b)    This policy document has been prepared pursuant to and in accordance with the requirements of Section 135 of the Companies Act, 2013 (hereinafter called as “the Act”) and the Companies (Corporate Social Responsibility Policy) Rules, 2014, notified by the Ministry of Corporate Affairs vide Notification dated 27th February, 2014 (“CSR Rules”), as amended from time to time.

 c)    The Company appreciates the decision taken by the Government of India. Legal framework of CSR is an edge to Corporate Charitable / reformative approach towards the Society. By introducing the CSR policy in Companies Act 2013, the Government has brought in reasonably profit-making corporate entities to involve in sharing a part of their wealth and responsibilities towards welfare of the society, of which they are part of.

 d)    Even before CSR became obligatory, the management of Poddar Tyres Limited have been contributing for the social and environmental wellness, through financial support to various segments especially educational and medical institutions.

 e)    The main objective of the Policy document is to lay down general framework of actions for the Company fulfilling its Corporate Social Responsibility (“CSR”) towards activities as more generally enshrined in Schedule VII to the Act and in particular to specify activities and programs to be undertaken and the modalities of execution, implementation and monitoring process of such programs.

  1. Scope of CSR activities / Programs and projects:

a)    The CSR activities of Poddar Tyres Limited shall include the following:

i.  To carry out philanthropic activities in the field of promotion of education, medical attendance, eradication of poverty, promoting activities for self-sufficiency, self-sustenance, self-reliance, rural development.

ii.  To support infrastructure for welfare of economically poor and differently abled persons like handicapped, deaf, dumb and blind and parentless and old persons.

iii.  To support medical infrastructure and activities for wellness diseases arising out of change in life styles, ENT, maternity issues, reproductive health issues for under-privileged or any other class or category of persons, as the Company may deem fit;

iv.  To work, support by all means, the activities in the area of alleviating sufferings out of hunger, poverty and malnutrition, promoting preventive health care and sanitation habits including contribution to the Swach Bharat Kosh set up by Central Government for promotion of sanitation and making available safe drinking water.

v.  To work out schemes or associate others in the area of promoting employment-oriented education, enhance professional and vocation skills especially in children, women, and the differently abled and livelihood enhancement projects.

vi. To work in the area of 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.

vii. To work in the area of 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 including contribution to the Clean Ganga Fund set up by the Central Government for rejuvenation of river Ganga.

viii. To work in the area of 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 art and handicrafts.

ix.  To work out or take measures for the benefit of armed forces veterans, war widows and their dependents.

x.  To work in the area of training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sports.

xi.  To contribute 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.

xii. To make contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government.

xiii. To work in the area of rural development projects.

xiv. To contribute by way of grants or otherwise associate in the area of medical and scientific research activities that are bound to bring wellness in the society by introduction of new medicines, methodologies, cutting expenses on tools of medication, early detection of dangerous medical ailments in the rural areas etc.

xv. To undertake any other activity in furtherance of the aforesaid objectives, as the CSR Committee may deem fit from time to time.

 b)   While undertaking CSR projects, preference will be given to the local area or area of operation of the Company.

 c)   The CSR project shall comply with any other stipulation or restriction as may be provided under the CSR Rules or any clarification or circular issued by the Ministry of Corporate Affairs, from time to time.

 d)   The Board of Directors shall however ensure that activities included above shall always be one with the activities enlisted in Schedule VII of the Companies Act, 2013.

  Exclusions from CSR

 The CSR activities shall not include the following: -

 a)    The activities undertaken in pursuance of normal course of business of a company.

 b)    CSR projects / programs or activities that benefit only the employees of the Company and their families.

 c)    Contribution directly / indirectly made to political party or any fund/s directed towards political parties or political causes.

 d)    CSR project / program or activity undertaken outside India.

  CSR Committee:

 a)    As per requirement of Section 135 of Companies Act, 2013 and rules related thereto, the Board of Directors of the company has constituted the “Corporate Social Responsibility Committee” comprising of following members:

1)    Mr. Arun Kumar Poddar

2)    Ms. Anuradha Agarwal

3)    Mr. Vimlesh C. Shah

b)    The Board of Directors may re-constitute the Committee, any time, as it may deem fit.

c)    The members of the Committee may meet as often as they shall deem fit for dispatch of the activities of the   
        Committee.

  Contributions for CSR activities:

  1. The Company shall allocate and spend, in every financial year, at least 2% of the average net profits of the Company of the 3 immediately preceding financial years.
  2. CSR expenditure shall include all expenditure including contribution to corpus for projects or programs relating to CSR activities approved by the Board, on recommendations of its CSR Committee

  3. If the Company fails to spend such amount allocated by the company for CSR spend in any year, the Board shall, in its report specify the reasons for not spending the amount.
     
  4. Revenues if any arising out of the CSR projects or programs or activities shall not form part of the business profit of the company and shall be carried forward for spending in the next financial year.

  1. Modalities of execution and implementations:

  1. The CSR Committee may each financial year decide which activity / project should be given priority for the financial year, after analyzing the basic needs of the community and also allocate amounts for each such activity / project.

  2. On recommendation by the Committee, the company may associate or collaborate with other registered societies, trusts, NGOs carrying out activities falling under the category of CSR activities provided that such societies, trusts, Companies shall have an established track record of 3 years in undertaking similar programs or projects.

  1. Monitoring & reporting:

a)  The CSR Committee will periodically review, implementation of projects approved, utilization of funds allocated and/or released to designated agencies to ensure compliance and efficient utilization of the funds for achieving the intended objectives.

b)  In order to ensure proper end use of the funds, officials may be deputed to inspect / verify the execution of the project / expenditure incurred.

c)  The Board shall ensure spending of allocated amounts on CSR activities and report the status in its annual report and also specify the reasons of not spending of the allocated amount, if any.

  1. Authority & Amendments

This Policy has been approved by the Board of Directors of the Company based on the recommendations of the CSR Committee. The Board of Directors may amend this Policy, as and when deemed fit. Any or all provisions of this Policy would be subject to revision /amendment in accordance with the provisions of Section 135 of the Companies Act, 2013 and the Rules, Regulations made or Notifications and order/s issued thereunder and or any amendments thereof from time to time.

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For PODDAR TYRES LIMITED

 

 

Managing Director