JASCH Industries LTD CSR Policy
CSR Policy of Jasch Industries Ltd (JIL) is inspired by the noble thought that if one waits until one can do everything for everybody, one will end up with doing nothing for anybody.
While pursuing its business strategy of manufacturing quality products that give complete satisfaction to consumers, JIL endeavors to operate in a manner which, besides generating an adequate return for shareholders, also lends a helping hand to the underprivileged individuals.
JIL’s CSR VISION
Through sustainable measures, actively contribute to the social and economic development of the community in which JIL operates and thereby create value for the nation.
JIL’S CSR MISSION
Ensuring socio-economic development of the community through different participatory and need- based initiatives in the best interest of the poor and deprived sections of the society so as to help them to become self-reliant and build a better tomorrow for themselves.
JIL’S CSR ACTIVITIES
The CSR activities which JIL will pursue will be in line with its stated Vision and Mission, focused not just around JIL’S plants and offices, but also in other geographies based on the needs of the communities.
JIL’s focus areas for CSR activities would be as specified in Schedule VII to the Companies Act, 2013. Presently, Schedule VII ibid specifies the following activities :
- Eradicating hunger, poverty and malnutrition, promoting preventive health car and sanitation and making available safe drinking water;
- Promoting education, including special education and employment enhancing vocation skills and livelihood enhancement projects; among children, women, elderly, and the differently abled ;
- 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;
- 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;
- 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 arts and handicrafts;
- Measures for the benefit of armed forces veterans, war widows and their dependents;
- Training to promote rural sports, nationally recognised sports, Paralympic sports and Olympic sports;
- 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;
- Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government;
- Rural development projects.
JIL’S APPROACH TO IMPLEMENTATION
JIL will strive to implement the aforesaid CSR activities on its own to the extent possible. However, JIL may also implement these CSR activities through a trust or other body, as the Board may decide. At the same time, JIL may also work in partnership with other CSR activists also. This would include:
- Collaborating with various organisation, which are registered as a Trust or a section 8 company under the Companies Act, 2013 or Society or NGOs or any other form of entity incorporated in India that specialise in the aforesaid activities.
- Contribution to various funds which are aligned with JIL’s Vision and Mission e.g.
- Prime Minister's National Relief Fund
- Any other fund set up by the Central Government for :
- socio-economic development and relief.
- for the welfare of Scheduled Castes, the Scheduled Tribes, other Backward classes, minorities and women.
- Collaborating or pooling resources with other companies to undertake aforesaid CSR activities.
The corpus for the purpose of carrying on the aforesaid activities would include the followings:
- 2% of the average Net Profit made by the Company during immediately preceding three Financial Years.
- any income arising there from.
- surplus arising out of CSR activities carried out by the company and such surplus will not be part of business profit of the company.
The Managing Director monitors the implementation of CSR policy and provides regular progress report to the Board. The report includes:
- Achievement since last progress report / during the last quarter in terms of coverage compared to the target and reasons for variance.
- Achievement of the year-to-date in terms of coverage compared to the target, plans to overcome shortfalls if any and support required from the CSR Committee/Board to overcome the shortfalls.
- Reasons, if any, for variance between actual achievement and budgeted achievement.
- In respect of activities undertaken through outside Trust/Society/NGO's etc. there will be mechanism of monthly reporting of progress on each such activities and the amount incurred thereon.