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CSR POLICY

Introduction

At Jaideep Ispat And Alloys Pvt. Ltd., the Corporate Social Responsibility (CSR) has been an integral part of the way we have been doing our business since inception. For more than 10 years, the company’s CSR initiatives have played a pivotal role in improving the lives of the communities and society at large in & around areas where we operate. This has been done with the objective of energizing, involving, and enabling these communities to realise their potential. This has also enabled us to fulfill our commitment to be a socially responsible corporate citizen.


I.Objective

The main objective of Jaideep’s CSR policy is:

  • To lay down guidelines to make CSR a key business process for sustainable development of the society.
  • To directly/indirectly undertake projects/programs which will enhance the quality of life and economic well-being of the communities in and around our plant and society at large.
  • To generate goodwill and recognition among all stakeholders of the company.

II.Our Responsibilities

a) Towards our communities

We will involve communities surrounding our operations to bring about a positive change in their lives through holistic, sustainable, and integrated development.

b) Towards our customers

We will build gainful partnerships with the customers to understand their needs and provide right product and service solutions. We will adopt and actively encourage the best and fair business practices and shall endeavour to build solid bonds with them.

c) Towards our business partners

We will support our suppliers to cultivate ethical and fair business practices and give preference over others to those who demonstrate this.

d) As a corporate citizen

We reaffirm our commitment to conduct our business with environmental accountability. We will endeavour to adopt environment-friendly technologies and energy efficiency in our operations while continuously monitoring and reducing emissions.

e) Towards our employees

We will foster a work culture with high ethical principles and standards and encourage our employees to perform with total integrity, commitment, and ownership. We will do all we can to support their professional growth and recognize high achievers. We will continue to raise the bar of our standards and guidelines. We recognize that our employees and contractors deserve to work in safe and healthy work environment and will make it our responsibility to ensure zero harm to people.


III.CSR Mainstay

CSR activities at Jaideep shall be carried out through:

  1. Collaboration with other Companies undertaking projects/programs in CSR activities.
  2. Contribution / donation made to such other organisations / institutions as may be permitted under the applicable laws from time to time.
  3. Directly by the Company for fulfilling its responsibilities towards various stakeholders.

IV.CSR Activities

The scope of the CSR activities of the Company will cover the following areas but would not be limited to the same and may extend to other specific projects/ programs as permitted under the law from time to time.


S.No. Area Activities/ Initiatives/ Programmes
1 (a)

Eradicating hunger, poverty, and malnutrition

Supplementing of Govt. schemes like mid-day meal through additional nutrition, construction of canteens in schools, agro based livelihoods, agriculture development, Krishi Vigyan Kendra.

1 (b)

Promoting health care including preventive healthcare and sanitation or measures for reducing inequalities faced by socially & economically backward groups

Health and sanitation development programmes, medical camps, programs for HIV Aids etc., giving medical and legal aid treatment to road accident victims. Provisions for aids and appliances to the differently-abled persons. Slum redevelopment or EWS housing.

1 (c)

Providing safe drinking water

Drinking water programs, construction of check dams, ponds, links, channels, wells, and water storage tanks.

2

Promoting education, including special education and employment enhancing vocational skills especially among children, women, elderly, and the differently-abled and livelihood enhancement projects

Construction and running of schools and libraries, vocational training and special education institutes, providing financial assistance and scholarships for higher education. Educating the masses and promotion of road safety awareness in all facets of road usage. Drivers’ training, safety traffic engineering and awareness through print, audio, and visual media. Consumer protection services. Conservation and renovation of school buildings and classrooms.

3

Women empowerment and facilities for senior citizens

Setting up centers and institutions for women & senior citizenship.  Promotion amongst women for undertaking income generating activities.

4

Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro-forestry, conservation of natural resources and maintaining quality of soil, air, and water

Horticulture plantation, agro-farm forestry, afforestation, projects on non-conventional energy (biogas), animal husbandry programs, forest conservation projects, water resource management and soil conservation, promoting micro-irrigation etc.

5

Promotion and protection of art & culture

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.

6

Measures for the benefit of armed forces veterans, war widows, and their dependents

Activities/programs for benefit of armed forces and families.

7

Training to promote rural sports, nationally recognised sports, Paralympic sports, and Olympic sports

Projects/programmes promoting various sports activities

8

Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government

Projects/programs for the development and upgrading of technology

9

Contribution/financial assistance

Contribution to 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.

10

Rural development projects

Rural infrastructure projects and agriculture development programs and projects.


V.Exclusion from CSR

The following activity shall not form part of the CSR activities of the Company:

  1. The activities undertaken in pursuance of normal course of business of a company.
  2. CSR projects/programs or activities that benefit only the employees of the Company and their families.
  3. Any contribution directly/indirectly to political party or any funds directed towards political parties or political causes.

VI.CSR Committee

CSR Committee shall be formed as per the applicable laws and the committee shall be responsible for the  implementation/monitoring and review of this policy and various projects/activities undertaken under the policy. The CSR Committee shall submit periodical reports to the board of directors.


VII.CSR Spend/Sources of Funding

The committee shall endeavour to spend at least 2% of the average net profit during the preceding 3 financial years on CSR activities as enumerated above. The allocation of the fund shall be made as decided by the CSR Committee based on the evaluation of specific project/activities. Any surplus arising out of the contribution made for CSR Activities shall not form part of the business profit of the Company and redeployed for such activities.


VIII.Implementation

Project /programs covered under CSR activities shall be implemented in the following manner:

  1. In collaboration with other Companies undertaking projects/programs in CSR activities. The CSR committees of respective companies should be in a position to evaluate and report the progress of such projects/programs.
  2. Any other institutes, NGOs, government, semi-government, autonomous bodies, trusts etc. However, any such projects/ programme to be undertaken through this entity shall have an established track record of 3 years of undertaking such projects/programmes. The time period/duration of each project/programme shall depend on its nature, extent of coverage, and intended impact of such activity.

IX.Monitoring & Reporting

The CSR Committee will be responsible for monitoring CSR activities and report to the board from time to time. The CSR Committee has the powers to:

  1. Seek monitoring and implementation report from the organisations receiving funds.
  2. Delegate a designated company official to coordinate with the organisation receiving funds to inspect the activities undertaken and ensure information in a timely manner.

Additionally, the Committee may empower any director to spend such amount as they think appropriate for some other strategic CSR contingencies that may arise during any financial year. The amount spent as above shall be put up for ratification of the committee at its next meeting and shall report to the board accordingly.

Continuous Monitoring
  • The Committee Members will receive in a prescribed format, a quarterly report of CSR spends
  • A presentation on the progress of the CSR projects / activities will be made to the Committee by the CSR Executives at the Committee meetings held from time to time
  • An annual presentation will be made to the committee which will also include the details of the projects / activities planned for the next year and its respective budgets.
  • The Board of Directors of Jaideep shall review the implementation of CSR every six months.
Display of CSR activities on its website:

The CSR policy after recommendation of CSR committee will disclose the contents in its Annual Report and shall display on the Company’s website: www.moirasariya.com


X.Disclosures

The Board Report of the Company include a section on CSR outlining the CSR Policy, CSR committee, CSR initiatives undertaken by Company, the CSR spend during the financial year, and other information as required by the prevailing law.



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