BANNARI AMMAN SPINNING MILLS LIMITED

Transcription

1 BANNARI AMMAN SPINNING MILLS LIMITED POLICY ON CORPORATE SOCIAL RESPONSIBILITY Page 1 of 3

2 CORPORATE SOCIAL RESPONSIBILITY POLICY This Policy is called CORPORATE SOCIAL RESPONSIBILITY POLICY (CSR Policy) and will be applicable to the Company from SCOPE A) Present Focus Promoting Education (Vide Item 2 of Schedule VII) Bridging infrastructure & teacher availability gaps in government schools in the villages around the factories located Building Balwadi s (pre-schools) in Dindigul area along with Tamil Nadu government as part of SSI (Self Sufficiency Scheme) Providing for adequate academic reading materials wherever required covering all Balwadi s across Dindigul district Adopted 8 schools, provided about 40 teaching staff catering to more than 1000 students. These schools were provided with necessary teaching staff, laboratory equipment, classroom accessories like books and writing materials, etc.,. Further contributed for infrastructures like class rooms and basic amenities like toilets and other facilities in such schools B) Future Focus Promoting Education and Rural development projects (vide Items 2 & 10 of Schedule VII) Actively participating in integrated rural community development Focus on adopting villages and holistic development of the same Education along with Health & Sanitation will be the prime concern areas Page 2 of 3

3 Promote quality of services delivered be it basic education, basic health, early childhood care and education by supplementing the effort of Government and suitably identifying the critical gaps and addressing it squarely Continuously engaging with the community in terms of social development. C) Operation of the Policy The Board shall constitute a CSR Committee in accordance with the Act. The Committee shall formulate and submit to the Board, the policy for consideration and approval, recommend the CSR activities, the Company may undertake in accordance with those listed in Schedule VII of the Act and the likely amount of expenditure associated with the activities. The Board shall, with due attention to Section 135 of the Act for selection of any project, environmental impact, cost, timelines, sustainability and other relevant factors, - Consider and approve the policy formulated by the CSR Committee, subject to necessary changes/modifications as the Board may deem fit. - Monitor effective utilization of funds provided by the Company for CSR activities through appropriate checks and balances. DISCLAIMER While the Company would strive to achieve the objectives of the policy, the Company does not make any personal assurance or any commitment to any individual or group who may be eligible/interested for the benefits under the above policy and the Company disclaims any liability, whatsoever on the same. Page 3 of 3

4 BANNARI AMMAN SPINNING MILLS LTD ANNUAL REPORT ON CORPORATE SOCIAL RESPONSIBILITY (CSR) ACTIVITIES 1. A Brief outline of the Company's CSR Policy including overview of projects or s proposed to be undertaken and a reference to the web-link to the CSR policy and projects or s. CSR Policy - Approved by the Board of Directors and applicable from Present Activities: 3 Bridging infrastructure & teacher availability gaps in Government Schools 3 Building five Anganwadies (pre-schools) in Dindigul area along with Tamilnadu Government as part of SSI( Self Sufficiency Scheme) 3 Providing for adequate academic reading materials wherever required covering all Anganwadies across Dindigul District where our spinning units are situated. 3 Adopted 8 schools, provided about 40 teaching staff, catering to more than 1000 students. These schools were provided with necessary teaching staff, laboratory equipment, classroom accessories like books and writing materials, etc., Further our company has contributed for infrastructures facilities such as class rooms, toilets and other facilities in such schools Future focus: 3 Actively participating in integrated rural community development 3 Focus on adopting villages with its holistic development 3 Education along with health and sanitaion will be the prime concern areas to be addressed 3 Promote quality of services delivered by basic education, basic health, early childhood care and education by supplementing the effort of Government and suitably identifying the critical gaps and addressing it squarely Weblink: 2. Composition of CSR Committee ANNEXURE III Corporate Social Responsibility Committee consists of three Directors of which two are Independent Directors. Sri S V Arumugam - Managing Director Sri S Palaniswami - Independent Director Sri K Sadhasivam - Independent Director 3. Average netprofit of the Company for last 3 financial years : `14,17,00,267/- 4. Prescribed CSR expenditure : ` 28,34,005/- (2% of the amount as in item 3 above) 32

5 BANNARI AMMAN SPINNING MILLS LTD 5. Details of CSR spend during the financial year a) Total amount to be spent for the financial year : ` 28,34,005/- b) unspent, if any : ` 19,14,157/- c) Manner in which the amount spent during the financial year is detailed below : S No Projects/ Activities Sector Project / locations outlay (budget) project/ wise spent on the project/ Cumulative expenditure upto the reporting period spent: Direct or through implementing agency 1. Anganwadi Centres Govt Sector Dindigul Dt 25,20,000 5,19,848 5,19,848 Direct 2. Women's Voluntary Services Assn Pvt Sector Coimbatore - 1,00,000 6,19,848 Direct 3. Hope after Fire Pvt Sector Coimbatore - 3,00,000 9,19,848 Direct Reason for not spending: Some of the projects which were to be executed with the participating of Government could not be implemented for want of required approvals. Responsibility Statement of the CSR Committee: The CSR committee hereby confirms that the implementation and monitoring of CSR activities are in compliance with CSR objectives and policy of the company. Coimbatore th 30 May, 2015 By Order of the Board S V ARUMUGAM Chairman & Managing Director 33

6 BANNARI AMMAN SPINNING MILLS LTD ANNEXURE III ANNUAL REPORT ON CORPORATE SOCIAL RESPONSIBILITY (CSR) ACTIVITIES 1. A Brief outline of the Company's CSR policy including overview of projects or s proposed to be undertaken and a reference to the web-link to the CSR policy and projects or s. CSR Policy - Approved by the Board of Directors and applicable from Present Activities: 3 To construct four Anganwadies (pre-schools) in Dindigul area along with Tamilnadu Government as part of SSI( Self Sufficiency Scheme). Three buildings were completed in Financial Year and one building was completed in Financial Year Future focus: 3 Actively participating in integrated rural community development 3 Focus on adopting villages with its holistic development 3 Education along with health and sanitation will be the prime concern areas to be addressed 3 Promote quality of services delivered by basic education, basic health, early childhood care and education by supplementing the effort of Government and suitably identifying the critical gaps and addressing it squarely Weblink: 2. Composition of CSR Committee Corporate Social Responsibility Committee consists of three Directors of which two are Independent Directors. Sri S V Arumugam - Managing Director Sri S Palaniswami - Independent Director Sri K Sadhasivam - Independent Director 4. Prescribed CSR expenditure : ` 47,80,838/- 3. Average netprofit of the Company for last 3 financial years : ` 23,90,41,899/- (2% of the amount as in item 3 above) 30

7 BANNARI AMMAN SPINNING MILLS LTD 5. Details of CSR spend during the financial year a) Total amount to be spent for the financial year : ` 47,80,838/- b) unspent, if any : ` 44,64,449/- c) Manner in which the amount spent during the financial year is detailed below : S No Projects/ Activities Sector Project / locations outlay (budget) project/ wise spent on the project/ Cumulative expenditure upto the reporting period spent: Direct or through implementing agency 1. Anganwadi Centres Govt Dindigul Dt 25,20,000 3,16,389 3,16,389 Tamilnadu Govt Reason for not spending: Some of the projects which were to be executed with the participation of Government could not be implemented for want of required approvals. Responsibility Statement of the CSR Committee: The CSR committee hereby confirms that the implementation and monitoring of CSR activities are in compliance with CSR objectives and policy of the company. Coimbatore th 25 May, 2016 By Order of the Board S V ARUMUGAM Chairman & Managing Director DIN

8 ANNEXURE III ANNUAL REPORT ON CORPORATE SOCIAL RESPONSIBILITY (CSR) ACTIVITIES 1. A Brief outline of the Company's CSR policy including overview of projects or s proposed to be undertaken and a reference to the web-link to the CSR policy and projects or s. CSR Policy - Approved by the Board of Directors and applicable from Present Activities: The company is actively involved in promotion of education particularly in rural areas where the facilities for students are inadequate. The company provides for construction of buildings and equipments to deserving schools. The company has contributed equipment to the disabled kids like hearing materials and also contributed towards welfare of children affected by AIDS. Future focus: Actively participating in integrated rural community development Focus on adopting villages with its holistic development Education along with health and sanitation will be the prime concern areas to be addressed Promote quality of services delivered by basic education, basic health, early childhood care and education by supplementing the effort of Government and suitably identifying the critical gaps and addressing it squarely Weblink : 2. Composition of CSR Committee Corporate Social Responsibility Committee consists of three Directors of which two are Independent Directors. Sri S V Arumugam Sri S Palaniswami Sri K Sadhasivam - Managing Director - Independent Director - Independent Director 3. Average net profit of the Company for last 3 financial years : `20,98,15,960/- 4. Prescribed CSR expenditure : `41,96,319/- (2% of the amount as in item 3 above) 21

9 5. Details of CSR spent during the financial year a) Total amount spent for the financial year : ` 30,61,000/- b) unspent, if any : ` 11,35,319/- S No c) Manner in which the amount spent during the financial year is detailed below: Projects/ Activities Sector Project / locations outlay (budget) project/ wise spent on the project/ Cumulative expenditure upto the reporting period (in `) spent: Direct or through implementing agency 1 Vedapatty Panchayat Private Coimbatore 2,11,000 2,11,000 2,11,000 Direct (Local Residential Dt Toilet) 2 Kodangipalayam Private Tirupur Dt 2,00,000 2,00,000 4,11,000 Direct Village (Local Residental Toilet) 3 Purchase of Private Chennai 3,50,000 3,50,000 7,61,000 Direct Accessories for Disabled School Students 4 Project "Thalir Private Coimbatore 10,00,000 10,00,000 17,61,000 Direct Dt 5 School Development Private Erode Dt 13,00,000 13,00,000 30,61,000 Direct Expenses Reason for not spending: Some of the projects which were to be executed with the participation of Government could not be implemented for want of required approvals. Responsibility Statement of the CSR Committee: The CSR committee hereby confirms that the implementation and monitoring of CSR activities are in compliance with CSR objectives and policy of the company. Coimbatore th 30 May, 2017 By Order of the Board S V ARUMUGAM Chairman & Managing Director DIN