Corporate Social Responsibility Policy

BACKGROUND

In compliance with the requirements of Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, Jalan Chemical Industries Private Limited (the “Company”) is, inter alia, required to:

Constitute a Board Committee to formulate and recommend to the Board a Corporate Social Responsibility (CSR) Policy, recommend the amount of CSR expenditure and monitor the CSR activities of the Company from time to time.
Ensure that the Company spends, in every financial year, at least two percent of the average Net Profits before Tax (PBT) of the Company made during the three immediately preceding financial years, in pursuance of its CSR Policy.

PHILOSOPHY

The concept of Corporate Social Responsibility (CSR) has been introduced by the Companies Act, 2013. CSR is traditionally driven by a moral obligation and philanthropic spirit. Taking CSR as a sustainable social initiative, the Company aims to align and integrate resources of the Company with society’s developmental needs towards creating a better tomorrow.

Our commitments towards Corporate Social Responsibility include but are not limited to:

Promotion of education and healthcare
Sanitation
Energy and climate change
Promoting gender equality
Empowering women
Betterment of society through respect for universal human rights and the environment
Acting with integrity and accountability
Operating responsibly and sustainably

APPROACH

Company’s approach will be that CSR activities shall be undertaken in multiple ways:

Independently by the company, or
In association with external social bodies / NGOs / Trusts, or
Contribution to external social bodies / NGOs / Trusts for carrying on CSR activities.

VISION

The Company is committed to conduct business in a true, fair and ethical manner and takes up the responsibility to create a good impact in the society it belongs.
To lay down guidelines to make CSR a key business process for sustainable development of the society and ensure the implementation of CSR initiatives through appropriate procedures and reporting.
The Company believes that giving back to society through CSR activities is its moral duty.
The Company aims to fulfil the requirements laid down under the Companies Act, 2013 and comply with all its Rules and Regulations on CSR.

APPLICABILITY OF THE POLICY

The Company’s CSR Policy has been developed in alignment with its objectives, principles and values for delineating its responsibility as a socially and environmentally responsible corporate citizen.
The Policy lays down the principles and mechanisms for undertaking various programs in accordance with Section 135 of the Companies Act, 2013.
The Policy shall apply to all CSR initiatives, programs and activities undertaken by the Company at various locations, preferably in the vicinity where the Company carries out its business operations for the benefit of diverse sectors of the society.

OBJECTIVE OF THE CSR POLICY

The Company’s CSR Policy intends to:

Promote education including special education and employment enhancing vocational skills especially among children, women, elderly and the differently abled and livelihood enhancement projects.
Promote gender equality, empower women, set up homes and hostels for women and orphans, set up old age homes, day care centres and other facilities for senior citizens, and take measures to reduce inequalities faced by socially and economically backward groups.

CORPORATE SOCIAL RESPONIBILITY COMMITTEE COMPOSITION:

The Corporate Social Responsibility Committee (‘CSR Committee’) shall consist of two or more Directors. The Members of the CSR Committee are:

Mr. Rajesh Jain – Chairman, Member
Mr. Dhiraj Bhutoria – Director, Member
Mr. Vaibhav Anil Jain – Director, Member

The Committee may formulate a CSR Sub-Committee with other Directors or Executives of the Company as deemed necessary.

MEETINGS

The Committee shall hold meetings as and when required to discuss various issues related to implementation of CSR Policy and related expenditures.
The Committee shall review the implementation of CSR programs to ensure efficient execution.
The CSR Committee will keep the Board apprised of the status of CSR implementation.
Members may participate either in person or through video conferencing or other audio-visual means.
The quorum for a CSR Committee meeting shall be one-third of its total strength or two members, whichever is higher.

ROLE/ TERMS OF REFERENCE OF CSR COMMITTEE:

The Committee shall perform the following functions:

Formulate and recommend to the Board the CSR Policy indicating activities to be undertaken as per Schedule VII of the Companies Act, 2013.
Recommend the amount of CSR expenditure.
Monitor the CSR Policy of the Company from time to time.
Review performance of the Company in CSR areas.
Spend the allocated CSR amount once approved by the Board.
Approve CSR activities in collaboration with companies / firms / NGOs / Trusts.
Authorize executives of the Company to attend CSR Committee meetings if necessary.

CSR THROUGH REGISTERED TRUST, SOCIETY, OTHERWISE

The Board of Directors may decide to undertake CSR activities approved by the CSR Committee through:

Registered Trust
Registered Society
Section 8 Company
Or other permissible institutions as per law.

MONITORING AND REPORTING

The CSR Committee shall monitor CSR activities and report to the Board from time to time.

The Committee shall:

Seek monitoring and implementation reports from organizations receiving funds.
Inspect activities undertaken and ensure timely information.

Additionally, the Company may empower CSR Committee members to spend appropriate amounts for urgent CSR contingencies during the financial year.

RESPONSIBILITIES OF THE BOARD

The Board shall:

Form a CSR Committee and disclose its composition.
Approve the CSR Policy after considering recommendations of the CSR Committee.
Place the CSR Policy on the Company’s website.
Ensure implementation of CSR activities.
Ensure expenditure of the required CSR amount every year.
Disclose reasons for not spending the CSR amount (if applicable) in the Annual Report.

CSR FOCUS AREAS

CSR activities shall focus on the following areas (as per Schedule VII of Companies Act, 2013):

Eradicating hunger, poverty and malnutrition and promoting healthcare including preventive healthcare and sanitation, including contribution to the Swachh Bharat Kosh for promotion of sanitation and safe drinking water.
Promoting education including special education and employment enhancing vocational skills.
Promoting gender equality and empowering women.
Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, conservation of natural resources and maintaining quality of soil, air and water including contribution to the Clean Ganga Fund.
Protection of national heritage, art and culture including restoration of historical sites and works of art, setting up public libraries and promotion of traditional art and handicrafts.
Measures for the benefit of armed forces veterans, war widows and their dependents.
Training to promote rural sports, nationally recognized sports, paralympic sports and Olympic sports.
Contribution to the Prime Minister’s National Relief Fund or any other fund set up by the Central Government for socio-economic development and welfare.
Contributions to technology incubators located within academic institutions approved by the Central Government.
Rural development projects.
Slum area development.
Disaster management including relief, rehabilitation and reconstruction activities.

GENERAL

All provisions of the CSR Policy shall be subject to revision or amendment according to government guidelines issued from time to time.
The Company reserves the right to modify, cancel, add or amend any of these rules. The policy has been duly approved by the Board.

INFORMATION DISSEMINATION

The CSR Policy will be available on the Company’s website. CSR initiatives will also be reported in the Annual Report of the Company.

AMENDMENTS

Any amendment in the applicable laws shall be construed as an amendment to this policy and shall be approved by the Committee and the Board.

Corporate Social Responsibility Policy