Corporate Social Responsibility Committee
Board of Directors
Kusum Healthcare Pvt Ltd (“KUSUM” or the “Company”) is deeply committed to fulfil its responsibility as a corporate citizen and integrate it into the Company’s core business strategy. KUSUM’s guidelines and mechanism for undertaking socially useful programmes for welfare & sustainable development of the community at large, is titled as the “Kusum CSR Policy”.
KUSUM’s CSR Policy has been prepared in accordance with Section 135 & Schedule VII of the Companies Act, 2013 (“Act”) along with Companies (Corporate Social Responsibility Policy ) Rules 2014 (“Rules”).
The Board of KUSUM will be responsible for:
The Board has constituted the “CSR Committee” on April 15, 2014. The Committee shall
consist two Director of the Company as member of the Committee. The present constitution
of the CSR Committee is as follows:
Mr. Sanjeev Gupta, Chairman
Mr. Badri Prasad Gupta, Member
The Board has authority to reconstitute this Committee from time to time.
The roles and responsibilities of the Committee shall be the following:
Committee shall hold Meeting as and when required.Two members present shall form the quorum for the meeting of the Committee.
KUSUM shall spend in each financial year, at least 2% of the average net profits
before taxation of the company made during the three immediately preceding financial
years. The total budgetary allocation shall be approved by the Board of Directors.
Any unspent CSR allocation of a particular year, will be reviewed by the CSR Committee and decision would be taken on whether the unspent amount should be carried over to the subsequent year/s. The CSR Committee, while determining the requirement for carry over to next year, will consider various factors like availability of desired projects, utilisation trend, practical aspects of spending the required amount in a particular timeframe and best interests of all the stakeholders
However, the reason for not being able to spend shall be disclosed.
The thrust of CSR shall be in the following areas, with special attention to the development of weaker/marginalized/under privileged sections of the society including SC/ST/OBC/ Minorities, women and children, BPL families, old and aged, physically challenged etc.
The CSR activities shall be as per Schedule – VII (notified on 27.02.2014 by Ministry of Corporate Affairs) as part of the Companies Act, 2013 and KUSUM's CSR activities are arranged according to Schedule-VII.
All the requests/applications from Villagers/Gram Sabha's / Panchayat / Ward Members/NGOs/
Trusts/ Societies/Beneficiaries etc. shall be scrutinized and screened by CSR Cell
and then their need assessment would be arranged.The need assessment/baseline survey
shall be carried out through in-house expertise and recourses. However, in case
of specialized CSR projects/activities for which in-house capacity is not available,
the baseline survey/need assessment shall be carried out by specialized agencies.
In any case, the Company shall maintain the documentary evidence of having got the need assessment study done through its own expertise and resources, or through some specialized agencies, or having accessed reliable data in this regard from recognized authoritative secondary sources.
All the CSR projects/activities shall be approved by CSR Committee and ratified by Board of Directors.
The CSR policy is implemented as per the Act and the Rules. The CSR policy will be implemented ensuring that projects/programmes as budgeted are duly carried out. CSR spends will be closely monitored and funds shall be released against verified utilizations as per the approved work plans. This may include monthly field visits, comprehensive documentation, and regular interaction with beneficiary communities. Further, CSR spends will be audited in an accountable and transparent manner.
This Policy is framed based on the provisions of the Companies Act, 2013 and rules
thereunder. In case of any subsequent changes in the provisions of the Companies
Act, 2013 or any other regulations which makes any of the provisions in the Policy
inconsistent with the Act or regulations, then the provisions of the Act or regulations
would prevail over the Policy and the provisions in the Policy would be modified
in due course to make it consistent with law.
This Policy shall be reviewed by the Corporate Social Responsibility Committee as and when any changes are to be incorporated in the Policy due to change in regulations or as may be felt appropriate by the Committee. Any changes or modification on the Policy as recommended by the Committee would be given for approval of the Board of Directors.
This Policy is dated April 30, 2014.
For and on behalf of the
Corporate Social Responsibility Committee of Kusum Healthcare Pvt Ltd
Chairman of the Corporate Social Responsibility Committee