CORPORATE SOCIAL RESPONSIBILITY POLICY OF DR. WILLMAR SCHWABE INDIA PRIVATE LIMITED
In accordance with Section 135 of the Companies Act, 2013 and the rules promulgated thereunder (collectively, the “CSR Requirements”), the Board of Directors (the “Board”) of Dr. Willmar Schwabe India Private Limited (the “Company”) has adopted this Corporate Social Responsibility Policy (the “CSR Policy”).
Our visionis – “to actively contribute to the social and economic development of the communities and to build a better, sustainable way of life for the weaker sections of society. As a corporate entity, the company is committed towards sustainability.
Corporate Social Responsibility (CSR) refers to an organization’s commitment to operating in an ethical way that takes into account profit, people and planet, thus integrating economic, social and environmental imperatives into their activities.
The Company shall undertake specific corporate social responsibility (“CSR”) projects and programmes as approved by the Board in its capacity as the CSR Committee of the Company, within the following CSR categories:
- Promoting healthcare including preventive healthcare;
- Promoting education, including special education and employment enhancing;
- Eradicating hunger, poverty and malnutrition;
- Ensuring environmental sustainability;
- Promoting gender equality and women’s empowerment;
- Rural Development Projects;
- 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 Caste, the Scheduled Tribes, other backward classes, minorities and women.
All CSR projects and programmes shall be carried out only in India. No specific CSR projects or programmes shall be undertaken in pursuance of normal course of business of the Company.
The Company will strive to implement the CSR activities on our own or by collaborating with various organization, which are registered as Trust or a Section 8 company under the Companies Act, 2013 or a Society or NGO or any other entity incorporated in India that specialize in the above activities. In such case, the Company will specify the CSR programmes which may be undertaken by those trusts with time schedule.
The corpus for the purpose of carrying on the aforesaid activities would include the followings:
- 2 per cent of the average Net profits made by the Company annually during the three immediately preceding financial years, on specific CSR projects and programmes.
- The Company shall take steps to ensure that any surplus arising out of the Company’s CSR projects and programmes or activities shall be set aside for later use in CSR projects and programmes and in no event shall form part of the Company’s business profits.
Monitoring and Reporting
The Company shall implement a monitoring mechanism over the Company’s CSR projects and programmes. Such monitoring mechanism shall, among other things, make transparent the manner and details of the implementation of all CSR projects and programmes undertaken by the Company.
The Board shall receive periodic reports from the Committee on the status of the Company’s implementation of specific CSR projects and programmes.
On an annual basis, the Board shall report to relevant stakeholders on the Company’s CSR projects and programmes and related matters, as required by CSR Requirements.