At Arcotech Limited, The Corporate Social Responsibility (CSR) has been an imperative part of the technique we have been doing our business. The Company’s CSR initiatives has played essential role in improving the lives of communities and society at large. This has also enabled us to fulfill our commitment to be a socially responsible corporate citizen.
This policy has been formulated in compliance with section 135 of the companies act 2013 areas along with the applicable rules thereto. This policy shall apply to all CSR projects/ programmes/ activities undertaken by the company in India as per schedule VII if the Act.
The main objective of CSR policy is to make CSR a key business process for sustainable development of the society. The Company will act as a good corporate citizen and aims at supplementing the role of Government in enhancing the welfare measures of the society within the framework of its policy.
To actively contribute to the social and economic development of the communities in which we operate. In doing so, build a better, sustainable way of life for the society and raise the country's human development index. The Policy is to help people through a sustainable model in such a way that they are able to stand on their own feet and participate in the economy with their enhanced capacities. The company’s CSR activities build an important bridge between business operations and social commitment evolving into an integral part of business functions, goals and strategy.
Arcotech Trust will be formed which individually would be undertaking CSR Activities and if opportunity received would be joining hands with the NGOs and other like-minded stakeholders. This helps widen the Company’s reach and leverage upon the collective expertise, wisdom and experience that these partnerships bring to the table.
A specific budget is allocated for CSR activities and spending on CSR activities shall not be less than 2% of the average net profits of the Company made during the three immediately preceding financial years, in pursuance of this policy. In case Company fails to spend such amount, the Board shall specify the reasons for not spending the amount. Tax treatment of CSR spent will be in accordance with the Income Tax Act as may be notified by CBDT.
The Company’s engagement in this domain is disseminated on its website, annual reports and its house journals as and when deem fit.
Our Board of Directors, our Management and all of our employees subscribe to the philosophy of compassionate care. We believe and act on an ethos of generosity and compassion, characterized by a willingness to build a society that works for everyone. This is the cornerstone of our CSR policy.
CSR Committee of the Company will review the policy from time to time based on the changing needs and aspirations of the target beneficiaries and make suitable modifications as may be necessary.
Our Corporate Social Responsibility policy conforms to the Section 135 of the Companies Act, 2013 read with Schedule VII of the companies Act, 2013 and Companies (Corporate Social Responsibility) Rules, 2014.