Corporate Social Responsibility Policy
Concept and vision
The Company intends to make a positive difference to society and contribute its share towards the betterment of society and the areas in which the Company operates. The Company also believes in the trusteeship concept. This entails transcending business interests and working towards making a meaningful difference to society.
In this regard, the Company has made this policy, which sets out the Company’s philosophy for delineating its responsibility as a corporate citizen and lays down the guidelines and mechanism for undertaking socially useful programmes for the welfare and sustainable development of the community at large. It is titled the “Corporate Social Responsibility (CSR) Policy” and is based on the Companies Act, 2013 and the rules framed under it.
This policy was formulated and recommended by the CSR Committee and adopted by the Board of Directors at its meeting held on 29 December 2015. The Board may, upon recommendation of the CSR Committee, amend or modify this CSR Policy as and when necessary.
Definitions
Board means the Board of Directors of the Company.
Corporate Social Responsibility (CSR) means and includes but is not limited to: (1) projects or programmes relating to activities specified in Schedule VII to the Companies Act, 2013; or (2) projects or programmes relating to activities undertaken by the Board of Directors of the Company in pursuance of the recommendation of the CSR Committee and approved by the Board as per this policy.
CSR Committee means the Corporate Social Responsibility Committee constituted by the Board pursuant to section 135 of the Companies Act, 2013.
Company means Contiloe Pictures Private Limited.
Net profit means the net profit of the Company as per its financial statement prepared in accordance with the applicable provisions of the Companies Act, 2013, but shall not include (1) any profit arising from any overseas branch or branches of the Company, whether operated as a separate company or otherwise, and (2) any dividend received from other companies in India which are covered under and complying with the provisions of section 135 of the Companies Act, 2013. Provided that net profit in respect of a financial year for which the relevant financial statements were prepared in accordance with the provisions of the Companies Act, 1956 shall not be required to be re-calculated in accordance with the provisions of the Companies Act, 2013.
Words and expressions used in this policy and not defined herein but defined under the Companies Act, 2013 shall have the meanings respectively assigned to them there.
Constitution, composition and scope of the CSR Committee
(a) Constitution and composition
The CSR initiatives and activities of the Company will be identified and initiated by the CSR Committee comprising two members/directors. The members of the CSR Committee shall elect one of them as the Chairman of the Committee. The CSR Committee shall recommend to the Board the amount of expenditure to be incurred by the Company on CSR activities, and the Board will ensure that the activities included in the CSR Policy are undertaken by the Company subject to and in accordance with the provisions of section 135 of the Companies Act, 2013. The composition of the CSR Committee shall be disclosed in the Board’s report.
(b) Scope
The CSR Committee has been set up to:
- formulate and recommend to the Board the CSR Policy, which shall indicate the activities to be undertaken by the Company as detailed in Schedule VII to the Act;
- recommend the amount of expenditure to be incurred on the activities referred to in the CSR Policy;
- monitor the implementation of the CSR projects, programmes or activities undertaken by the Company under the CSR Policy from time to time.
(c) Modalities of execution
The modalities of the execution of the CSR projects or programmes and their implementation, along with the monitoring process of such projects or programmes, shall be as decided by the CSR Committee.
Corporate social responsibility activities
The Company shall, upon the recommendation of its CSR Committee and with the necessary approval of the Board, undertake any one or more of the following activities as part of its corporate social responsibility initiative, as defined in Schedule VII of the Companies Act, 2013:
- (i)Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation, including contribution to the Swachh Bharat Kosh set up by the Central Government for the promotion of sanitation, and making available safe drinking water.
- (ii)Promoting education, including special education and employment-enhancing vocational skills, especially among children, women, the elderly and the differently abled, and livelihood enhancement projects.
- (iii)Promoting gender equality and 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 the quality of soil, air and water, including contribution to the Clean Ganga Fund set up by the Central Government for the rejuvenation of the river Ganga.
- (v)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.
- (vi)Measures for the benefit of armed forces veterans, war widows and their dependents.
- (vii)Training to promote rural sports, nationally recognised sports, Paralympic sports and Olympic sports.
- (viii)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, Scheduled Tribes, other backward classes, minorities and women.
- (ix)Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government.
- (x)Rural development projects.
- (xi)Slum area development. For the purposes of this item, the term 'slum area' shall mean any area declared as such by the Central Government or any State Government or any other competent authority under any law for the time being in force.
CSR projects, programmes or activities that benefit only the employees of the Company and their relatives shall not be considered CSR activities. Only CSR activities undertaken in India will be taken into consideration in order to satisfy the requirement of section 135 of the Companies Act, 2013.
Annual return
Form MGT-7, the Company’s annual return under section 92 of the Companies Act, 2013.