S.M. Auto Engineering PVT. LTd.

CSR POLICY

CSR POLICY OF S M AUTO ENGINEERING PRIVATE LIMITED.

Preamble

We, at S M Auto Engineering Private Limited., believe that our business is built around strong social relevance of inclusive growth by supporting the common man in meeting their financial needs. As a responsible human organization, we are committed towards the above objective and are keen on developing a sustainable business model to ensure and activate our future growth drivers. In line with the regulatory expectations, we are putting in place a formal policy as a guide towards our social commitment going forward.

Key words & meanings

Act- means the Companies Act, 2013 as amended from time to time

CSR- means Corporate Social Responsibility

CSR Policy – means the policy approved by the board as the Corporate Social Responsibility policy of the company as amended from time to time.

CSR Rules or Rules – means Companies (Corporate Social Responsibility Policy) Rules 2014

Policy Objectives

The objective of the CSR Policy (“Policy”) is to lay down the guiding principles in undertaking various programs and projects by or on behalf of the company relating to Corporate Social Responsibility (“CSR”) within the meaning of section 135 of the Companies Act,2013 read with Schedule VII of the Act and the CSR Policy Rules 2014.(“Rules”)

Applicability

The policy shall be applicable to all CSR activities of the company whether carried by it or through any implementation agency with effect from 01st April, 2014 

CSR Committee

CSR Committee means the committee of the board constituted in terms of Section 135 of the Companies Act, 2013 read with Rule 5 of the rules which compromises:

1. Mr. Sanjay M Chopda - Chairman

2. Mr. Sharad M. Rege - Member

3. Mr. Sujit M. Gandhi - Member 

Role of the Committee include;-

a. To formulate and recommend to the Board, a CSR policy which shall indicate the activities to be undertaken by the Company as per the Companies Act, 2013;

b. To review and recommend the amount of expenditure to be incurred on the activities to be undertaken by the company;

c. To monitor the CSR policy of the Company from time to time;

d. Any other matter as the CSR Committee may deem appropriate after approval of the

Board of Directors or as may be directed by the Board of Directors from time to time.

CSR Activities

The scope of this policy will extend to activities as stated under Schedule VII of the Companies Act, 2013, as presently in force. The scope of the policy to also include all additional and allied matters, as will be notified by Ministry of Corporate Affairs or such other body, as appointed /notified by Central or State Government, from time to time for this purpose. This may compromises:

Promotion of Education

Company may undertake projects or programs or activities basically aimed to promote education

in the rural area by adopting any of the following manner;

1. construction of school building,

2. providing of school furniture

3. providing of books, note books or any related stationery

4. by providing Computer systems to schools and educational institutions which enable a student of rural India to become aware and learn about information technology of era.

5. Arranging for drinking water

Further, the company may take up all or any projects, programs or activities falling under any of the activities in the following fields as approved by the board on the recommendation of the CSR committee.

i. Eradicating hunger, poverty and malnutrition, promoting health care including preventive healthcare and sanitation including contribution to the Swach 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 vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement project;

iii. Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centers 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, agro forestry, conservation of natural resources and maintaining quality of soil, air and water;

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 arts and handicrafts;

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

vii. Training to promote rural sports, nationally recognized sports, Paralympics sports and Olympic sport;

viii. 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.

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

x. Rural development projects.

Effects of interpretations/clarifications and amendments on projects/ programs /activities The objective of the policy is to act as a guideline for the company in its endeavor to undertake socially relevant activities that will result in the overall objective of the company to create societal capital/assets for the common good and the list of activities shall be interpreted in a manner that will advance the objective. The policy shall be deemed to have amended or modified to the extent of any modification/ amendments or clarifications issued by the Central Government from time to time in relation to the CSR obligations of companies and shall be interpreted accordingly.

Execution of projects/programs

The company may undertake one or more projects or programs or activities provided in the policy either as its own or through any implementation agency. It shall be the endeavor of the company to build up necessary capabilities to implement the CSR projects on its own in the long run. It can also acquire the services of experts in respective fields by appointing them as consultants in a particular program or project. While engaging a third party agency for implementing a project or program covered in the CSR policy, the CSR committee shall ensure that they have credible standing and experience in the respective fields.

Monitoring of CSR Activities

CSR committee of the company will be responsible for the monitoring of various CSR projectsor programs undertaken by the company directly or indirectly. The committee shall ensure that;

i. Company undertakes the CSR activities as provided in the CSR policy

ii. The projects/ programs are implemented as per the program approved by the board 

iii. The budget allocated for each of the project is utilized for the projects as per the approved plans.

iv. The objective of the project/program is achieved as per the plans

iv. Wherever projects/programs are undertaken in partnership with one or more

organizations, the part of the project or program undertaken by the company shall be distinguishable and necessary supporting documents in respect of the same shall be obtained from the other partners/implementing agency on an annual basis.

Company shall provide necessary resources and human capital for implementation and the effective monitoring of the CSR projects and programs as may be directed by the CSR committee. The services of any external agencies or persons who have experience in the same or similar projects or programs undertaken or proposed to be undertaken by the company may also be made available for successful implementation an monitoring of the project.

Surplus arising out of CSR

Surplus arising out of any CSR project or program or activities shall not form part of the business profit of the company.

Amendment of policy

The CSR policy of the company may be amended at any time by the board of the company on the recommendation of the CSR committee.

Reporting

On approval of the CSR policy or any amendments thereof, the contents of the policy shall be included in the Boards’ report and the same shall be displayed on the web site of the company.At the end of each financial year, the CSR committee shall prepare a report of the CSR Program in the prescribed form relating to the financial year and submit to the board for its inclusion in the Board’s report. 

Clients