GAYATRISHAKTI PAPER & BOARDS LIMITED
Shree Gayatrishakti
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CSR has gone beyond a mere voluntary activity that organizations used to undertake and has gained importance as one of the important agenda driven from the highest governing body of the Company – the Board of Directors. This is evident in the new regulation introduced by Ministry of Corporate Affairs, Government of India. The Companies Act 2013 was given assent by the President of India and was published in the Gazette of India on 29thAugust 2013. Through Section 135, the Act has made it mandatory to allocate 2% of average net profit over three immediate preceding financial years for CSR besides meeting other requirements on CSR by prescribed companies operating in India.

 

II. OBJECTIVE

Gayatrishakti Paper & Boards Limited (GSPBL)CSR Policy intends to:

  • Welfare measures for the community at large, so as to ensure the poorer section of the Society derived the maximum benefits.
  • Contribution to the society at large by way of social and cultural development, imparting education, training and social awareness especially with regard to the economically backward class for their development.
Protection and safeguard of environment and maintaining ecological balance and identifying CSR projects keeping in view the regional needs and aspiration.
 

III. CSR PLAN

GSPBL shall prepare its Annual CSR Plan at the beginning of each Financial Year according to the availability of resources, on recommendation of the CSR Committee and approval of the Board.

The CSR activities (Projects/Programmes) which GSPBL plans to undertake shall be the activities falling within the purview of Schedule VII of the Companies Act, 2013 as amended from time to time and does not include the activities undertaken in pursuance of normal course of business of the Company.

While all CSR programs will be focused in India, the Company shall give preference to the local areas.

 

IV. FOCUS AREA

In accordance with the requirements under the Companies Act, 2013, GSPBL CSR activities, amongst others, will focus on:

  • Hunger, Poverty, Malnutrition and Health: Eradicating extreme hunger, poverty and malnutrition, promoting preventive healthcare and sanitation and making available safe water.

  • Education: Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects; monetary contribution to academic institutions for establishing endowment funds, chairs, laboratories, etc., with the objective of assisting students in their studies. 

  • Rural Development Projects: Strengthen rural areas by improving accessibility, housing, drinking water, sanitation, power and livelihoods, thereby creating sustainable village.  

  • Gender equality and empowerment of Women: 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 adopting measures for reducing inequalities faced by socially and economically backward groups.

  • National Heritage, Art and Culture: Protecting 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;

  • Environmental Sustainability: Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining the quality of soil, air and water.

 

V. UNDERTAKING CSR ACTIVITIES / IMPLEMENTATION

CSR programs, projects or activities, will be implemented through one or more of the following methods:

  • Directly by the Company;
  • Any other Registered Trust, Society or Section 8 Company (i.e. Company registered under Section 8 of the Companies Act, 2013) with an established track record of atleast three years in carrying on activities in related areas and duly approved by the CSR Committee;
  • In collaboration with other organizations.
 
VI.COMPOSITION OF CSR COMMITTEE

The CSR Committee shall consist of the following Directors:

  • Mr. Gajendra Agarwal
  • Mr. PM Aher
  • Mr. Arunkumar Lahoti
 
VII. RESPONSIBILITES OF THE COMMITTEE

The responsibilities of the CSR Committee include:

  • To formulate and recommend to the board, a Corporate Social Responsibility Policy (CSR Policy).
  • Recommend the amount to expenditure to be incurred on the CSR activities and,
Monitor the CSR Policy of the company from time to time and institute a transparent monitoring mechanism for CSR projects/programs/activities undertaken by the company.
 
VIII. FUNDING AND ALLOCATION

For achieving its CSR objectives through implementation of meaningful and sustainable CSR programmes, GSPBL shall endeavor to allocate the following as its Annual CSR
Corpus:

  • 2% of average net profits made during the three immediately preceding financial years, as prescribed under the Companies Act, 2013 and the Rules;
  • Any income arising therefrom; and
  • Surplus arising out of CSR activities.

It is clarified that surplus arising out of CSR projects/ programs shall not form part of

business profit of the Company.
 

IX. MONITORING PROCESS

To ensure effective implementation of the CSR programmes, the Company shall put in place, suitable monitoring mechanism.

  • The progress of CSR programmes under implementation will be reported to the Chairman, CSR Committee on quarterly basis.
  • CSR Committee shall periodically monitor the progress of CSR projects, programs and activities incorporated in the CSR Policy and shall hold review meetings at regular interval.
  • CSR Policy will be displayed on the Company’s corporate website.
An Annual report on CSR containing the particulars as prescribed under the Companies (Corporate Social responsibility Policy) Rules, 2014 shall form part of Annual Report of the Company.
 

X. GENERAL

  • This policy is in compliance of section 135 of the Companies Act, 2013 and the Companies (Corporate Social Responsibility Policy) Rules, 2014 (the Rules).
  • In case of any doubt with regard to any provision of the CSR Policy and also in respect of matters not covered herein, a reference should be made to the CSR Committee
  • The Company reserves the right to modify, cancel, add, or amend its CSR Policy subject to the provisions of the Companies Act, 2013 and Rules framed thereunder.
 
 
 
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