CSR Policy
I. INTRODUCTION
The Corporate Social Responsibility (CSR) activities of Sterling Generators Private Limited shall be governed by the provisions of Section 135 and Schedule VII of the Companies Act 2013 and the Companies (Corporate Social Responsibility Policy) Rules, 2014 (as amended from time to time). The Company is committed to its stakeholders to conduct business in an economically, socially and environmentally sustainable manner that is transparent and ethical. The company is committed to contribute to the improvement of standard of living of peoples by undertaking and financing various initiatives in health, hygiene, education, preservation of environment and upliftment of the underprivileged sections of society.
II. DEFINITIONS
"Act" shall mean the Companies Act, 2013 as amended from time to time and the Rules framed there under.
"CSR Committee" shall mean the Corporate Social Responsibility Committee of the Board.
"Board" shall mean the Board of Directors of the Company.
"Company" shall mean Sterling Generators Private Limited.
"Policy" shall mean Corporate Social Responsibility Policy of the Company
"CSR Committee" shall mean the Corporate Social Responsibility Committee of the Board.
"Board" shall mean the Board of Directors of the Company.
"Company" shall mean Sterling Generators Private Limited.
"Policy" shall mean Corporate Social Responsibility Policy of the Company
- 1. The CSR Committee of the Board shall be constituted in accordance with the Act. The CSR Committee shall meet at such intervals as its members deem necessary to perform the duties and responsibilities.
- 2. Duties & responsibilities of the Board of Directors/ CSR Committee shall include:
- a) Review of the CSR activities to be undertaken by the Company. The Board of Directors/ CSR Committee shall be guided by the list of activities specified in Schedule VII to the Act and this Policy.
- b) Formulate and recommend the projects to be supported to the Board and the CSR activities/programs to be undertaken by the Company.
- c) Recommend the CSR expenditure to be incurred on the CSR activities/programs.
- d) Institute a mechanism for implementation of the CSR projects and activities and effectively monitor the execution of the CSR activities.
- e) Appointment of a working group called the CSR Team to help it enable the implementation of the CSR projects/activities.
- f) Such other responsibilities as may be entrusted from time to time.
- 3.The Annual CSR Plan and Budget shall be finalized in consultation with the Chairperson of the Company.
- 4.The Company may undertake and implement its CSR activities by its own and company may also look into the appropriate trust, which is eligible to undertake the CSR activities as per section 135 of the companies Act, 2013. The Company may identify a partner in the form of a Non-Government Organization, any Government body or a Panchayat in the execution of any of its projects.
- 5.All CSR Projects shall be recommended by the Committee and approved by the Board.
- 6. Periodic CSR update, including achievements of deliverables shall be shared with the Chairperson and the Managing Director.
- 7. Focus Areas for CSR shall include the followings:
- a) Eradication of poverty
- b) Education
- c) Environment Preservation
- d) Swatch Bharat Abhiyaan
- e) Health shall cover Water, Sanitation, and Hygiene leading to better Health
- f) Women Empowerment
- g) Renewable sources of energy
Our goal here will be to work towards long-term impact by changing habits, inculcating awareness of safe drinking water, good sanitation and hygiene. Providing necessary infrastructural support, for example, community level drinking water plants, filters, educating and creating awareness on need for safe water and hygiene. Education shall seek to mainstream children, with special focus on children of underprivileged sections of the society, by providing them with non-formal schooling opportunities which can translate later to formal school admissions. Environment Preservation includes adopting energy conservation practices, measuring and reducing carbon footprint, involving employees in conservation practices, utilizing environment-friendly materials and rainwater harvesting and water conservation. Setting a goal to 'green our planet' consciously by planting trees.
The Company may also undertake other CSR activities as permitted in Schedule VII of the Act.
- 8. The Company shall spend at least 2% of average net profits made during immediately preceding 3 financial years in every financial year in accordance with the Policy
- 9. The Board of Directors/ CSR Committee may review Policy from time to time and make recommendations for amendment as it may deem appropriate
