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CORPORATE SOCIAL RESPONSIBILITY POLICY

Preamble

SHRIRAM VERITECH is committed to be a socially responsible enterprise with focus on social wellbeing of the community with special focus on the under privileged section of the society while creating long term value for all stake holders.

Objectives

Our CSR Policy intends to make a positive impact of the quality of life of the various sections of society with preference to the area in the vicinity of its business operations.

Focus Areas

The company shall carry its CSR Activities in accordance with the provisions of the Companies Act, 2013 with special focus on the following areas:

  • Promoting Education
  • Healthcare and Sanitation
  • Eradicating hunger, poverty and malnutrition
  • Environmental Sustainability
  • Promoting Gender equality
  • Rural Development and Slum Area Development Projects
  • Protection of National Heritage and Art & Culture
  • Measures for benefit of armed forces veterans, war widows and their dependents
  • Contribution of 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 scheduled castes, the scheduled tribes, other backward classes, minorities and women

Implementation

The CSR Committee of the company will evaluate, prioritize, approve and review the CSR activities and expense on a periodic basis as per the calculation of 2% of average net profit of the company for three preceding years.

The Programs and projects approved by the CSR committee shall be implemented in a time bound manner and a transparent mechanism will be set up for their monitoring.

Management Commitment to CSR

The Board of Directors of company shall ensure that:

  • All CSR activities carried by the company are related to the activities mentioned in the Focus Area,
  • Any surplus arising out of the CSR projects or programs or activities shall not form part of the business profit of a company, and
  • The CSR policy and the CSR activities are communicated to all stakeholders as per the applicable regulatory requirements.