Ministry of Corporate Affairs has notified Section 135 of the Companies Act, 2013 and Schedule VII thereto along with the Companies (Corporate Social Responsibility Policy) Rules, 2014 (hereinafter “CSR Rules),effective April 01, 2014.
This Corporate Social Responsibility Policy (hereinafter “CSR Policy) of Asiatic Electrical & Switchgear Pvt. Ltd. has been prepared pursuant to Section 135 of the Companies Act, 2013 and the CSR Rules.
i) To directly or indirectly take up programs that benefit the communities in and around COMPANY’s workplace and results, over a period of time, in enhancing the quality of life and economic well-being of the local populace.
ii) There are numerous national campaigns that need support to have a greater impact e.g. Health Awareness and Medical Aid, Promoting Education, Poverty and hunger eradication, Vocational Training & Aid to deprived class.
iii) Ensure commitment at all levels in the organization, to operate its business in an economically, socially and environmentally sustainable manner, while recognizing the interest of all its stakeholders.
iv) Create Awareness about the company and build its public profile.
A specific budget is allocated for CSR activities and spending on CSR activities shall not be less than 2% of the average net profits of the Company made during the three immediately preceding financial years, in pursuance of this policy.
COMPANY aim to carry CSR activities as per the Schedule VII read with Section 135 of the Companies Act, 2013 including any modification by MCA.