CSR Policy

MATHESON BOSANQUET ENTERPRISES PRIVATE LIMITED

POLICY ON CORPORATE SOCIAL RESPONSIBILITY (CSR)

Title and Applicability

Matheson Bosanquet Enterprises Private Limited (‘Company’) has developed its Corporate Social Responsibility Policy (‘Policy’) in accordance with section 135 of the Companies Act, 2013 and the rules made there under.

The Policy shall apply to all CSR programs of the Company.

CSR Approach

CSR activities will primarily be in the areas of Medical Relief, Financial Assistance to Poor, indigent people, promoting Education by providing transport facilities, and Vocational Training to general public.

The Company’s CSR projects will be implemented like any other business activity, in a time-bound manner with clear objectives, plan, targets and robust monitoring and evaluation parameters.

The CSR will focus on promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently able and livelihood enhancement projects.

The Company intends to aid projects and programs in providing medical, financial relief, food, clothing and shelter to the poor and indigent people of all ages without making any discrimination on the basis of religion, caste, creed, community, language or gender.

In order to bring about development, enabling access to education for the underprivileged sections of the society and enhancing employability of under-served remains a prime area of the Company’s CSR focus.

While access to healthcare remains an important indicator of development, lack of access to proper medical facilities plagues many parts of rural and urban India. The Company seeks to promote healthcare through its CSR projects.

The Company will undertake relevant and effective social projects to have a positive and meaningful impact on the lives of communities around it. The Company intends to aid projects and programs for social advancement and livelihood help for women, senior citizens, children, widows, and differently able persons.

The CSR will focus on supporting projects and programs for the protection of national heritage, art, culture, including restoration of buildings and sites of historical importance and work of art, setting up of public libraries, promotion and development of arts and heritage.

The Company will focus on CSR initiatives that promote the areas identified in this policy. The Company will implement the chosen programs via two channels:

a) Directly by Matheson Bosanquet Enterprises Private Limited

b) Through a registered Trust or registered Society or Company established by the Company or its Holding or Subsidiary or Associate Company under Section 8 of the Companies Act or through others allowed to carry on the activities mentioned above.

Validity of CSR Policy

The Board may amend the CSR policy as may be required from time to time.

Effective Date

This policy is effective from the Financial Year 2020-21.

Focus Areas

Company’s CSR will primarily focus on programs as stated below:

Vocational Training

Financial Assistance to poor and indigent people

3.  Education

4.  Health

5.  Uplift of economic and social conditions of people.

6.  Art & Culture

However, the CSR Committee (defined below) may take up initiatives outside this scope based on specific circumstances.

Implementation

The Company’s ongoing CSR projects will be aligned to the Policy. This Policy builds on the learning and good practices of the CSR projects initiated by the Company.

The mode of implementation will include a combination of direct implementation and implementation through trust/foundation/society/section 8 companies etc. set up by the Company or otherwise and partners such as NGOs, business partners, registered societies etc. The Company will select its partners after appropriate due diligence.

CSR Committee

Composition of the CSR committee: The composition of the CSR Committee of the Board is as under

S. No.

Name

Designation

CSR Committee

1

Mr. B.K. Poddar

Executive Chairman

Chairman

2

Mr. Abhishek Poddar

Managing Director

Member

3

Mrs. Radhika Poddar

Director

Member

Responsibility of the CSR Committee

Formulate and recommend the CSR Policy to the Board for approval. The Committee shall indicate the projects to be undertaken by the Company as specified in Schedule VII of the Companies Act, 2013.

Monitor the Policy from time to time and recommend changes to the Board.

Recommend the amount of expenditure to be incurred on CSR projects.

Institute a transparent monitoring mechanism for ensuring implementation of the social projects undertaken by the Company.

CSR Budget

The Board of Company shall ensure that in each financial year, the Company spends at least 2% of the average net profit made during the immediate three preceding financial years.

The unutilized CSR budget from the 2% of the average net profit will be parked in a CSR Fund (Corpus) created by the Company. This Fund would also include any income arising there from and any surplus arising out of CSR activities.

In case of any surplus arising out of CSR projects the same shall not form part of business profits of the Company.

The Company may collaborate or pool resources with other companies (its subsidiary company) to undertake CSR activities.

Monitoring and Reporting Framework

Project monitoring

The Company will institute a well-defined monitoring and evaluation mechanism to ensure that each social project has:

Clear objectives developed out of the societal needs.

Clear targets, time lines and measureable parameters wherever possible.

3.  A progress monitoring and reporting framework that is aligned with the requirements of the section 135 of the Companies Act and the CSR Rules.

Reporting framework

The Company will monitor progress on CSR projects and CSR spend and report to the top management quarterly and the CSR Committee half yearly.

The Company will report CSR performance in its annual report as per the structure and format prescribed in the notified CSR Rules.

3. The Company will share its CSR performance with its various stakeholders through its annual Sustainability Report, media, conferences, brochures, short films etc.