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CSR Policy
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Our CSR Commitment
Corporate Social Responsibility (CSR) is an important part of how MVS Engineering Private Limited (MVS) does business. This CSR Policy provides a clear strategy and direction for our CSR efforts. It also lays out the core principles that will guide how the Company works toward its CSR goals.
Shared Value & Sustainability
Corporate Social Responsibility has evolved over time from simple acts of kindness to a way for businesses to meet the needs of the communities they serve. By acting in a socially, environmentally, and morally responsible way, the Company creates long-term value and sustainability while also making the world a better place.
An Integral Role in Society
People worldwide know that incorporating moral, environmental, and social responsibilities into business management is key to long-term success, competitive advantage, and sustainability. We believe businesses are an important part of society and have a duty to protect ecosystems, encourage inclusion, uphold moral standards, and support good governance.
Our Priority Roles
Protecting and improving healthy ecosystems, upholding moral standards, and promoting good governance practices.
Increasing social inclusion and fairness in all of their CSR projects.
Legal & Regulatory Framework
With the passing of the Companies Act, 2013, Corporate Social Responsibility (CSR) became a law. Section 135 of the Act sets out the main legal framework for the Company's CSR activities.
Mandatory CSR Spend (2%)
Part 135 of the Companies Act, 2013 requires a company to spend at least 2% of its average profit from the last three financial years on corporate social responsibility (CSR) activities.
CSR Committee of the Board
To be eligible, companies must create a Corporate Social Responsibility Committee of the Board. This committee must have at least three directors, including at least one independent director.
Long-Term Success & Competitiveness
Integrating social, environmental, and moral duties into the Company's management ensures long-term success, a competitive edge, and longevity.
A Socially Responsible Image
Good CSR practice is also smart business. Companies that do the right thing get a reputation for caring about others, grow their business, and become the first choice for customers.
Our Vision & Objectives
The following promises make up the vision for our CSR work and the goals of this Policy:
Partnerships & Engagement
- Work with trustworthy groups like trusts, foundations, and non-governmental organizations.
- Creating approaches that are purposeful and work well to involve everyone involved.
Community & Environment
- Engaging local communities to determine impactful, culturally suitable development objectives.
- Reducing pollution and promoting recycling, reducing waste, and good waste management.
- Being responsible and long-lasting in how you use natural resources.
Energy & Empowerment
- Getting people to use less energy and adopt technologies that are better for the environment.
- Uplifting marginalized and underprivileged groups in society, with particular focus on education and healthcare.
Objectives of the Policy
- Show your commitment to the common good by running your business responsibly and leading with strength.
- Maintain high-quality social sector services by building strong, repeatable processes.
- Encourage employees to care about others, act fairly, and give back to the community.
Our CSR Footprint
Creating Impact Across India
Our corporate social responsibility (CSR) programs first help the areas and communities around the company. They also aim to support poorer communities more broadly.
Local Areas First
When the Company decides how to spend CSR funds, it prioritises local areas and those nearby.
Communities Around Us
We work with local officials, civic groups, and other key stakeholders to create CSR programs that support the communities where we do business.
Upliftment at Large
The Company is still committed to helping poor communities on a larger scale, even though it focuses on local areas first.
Areas for CSR Spending
The company can spend money on the following things as allowed by Schedule VII of the Companies Act, 2013:
- Healthcare
- Getting rid of hunger, poverty, and poor nutrition, and making sure everyone has access to clean water
- Getting education and income-boosting projects off the ground
- Programs to help and improve the lives of people who are less fortunate
- Giving women more power and building old age homes, day care centers, and other facilities for seniors
- Conservation of natural resources, ecological balance, and environmental sustainability
- Keeping art, culture, and national heritage safe
- Government programs that help veterans and their families
- Promotion of sports
- Contributions to funds established by the Central Government for various social causes
- Contribution to technology incubators
- Rural development projects
- Slum area development
These activities should be taken broadly, as that's what they were meant to do. They are meant to be examples, not complete lists. The company may work in these areas by contributing to projects already underway.
CSR Committee
Section 135 of the Companies Act, 2013 requires the company to have a Corporate Social Responsibility (CSR) Committee to draft the company's CSR policy, recommend it, monitor it, and review it.
Committee Members
D. C. Rastogi
MD & CEO — Chairman
Heads the CSR Committee, offering strategic guidance and overseeing all CSR initiatives.
Anil Kumar Arora
Finance Manager — Member
Helps plan, budget, and manage CSR program resources using their financial and strategic expertise.
Role of the CSR Committee
Policy Formulation
Write a Corporate Social Responsibility Policy and present it to the Board. This policy should include the activities that the Company will do as listed in Schedule VII of the Companies Act, 2013.
Expenditure Recommendation
Recommend how much money should be spent on different CSR activities during a financial year.
Policy Monitoring
Review and monitor the Company's CSR policy regularly.
Furtherance & Compliance
Identify what else members think is important to move the Company's CSR Policy forward, and ensure it is followed.
Receipt & Assessment of Proposals
Receive requests and proposals from Units, the District Administration, local government bodies, NGOs, Trusts, Societies, Institutions, and other groups, and evaluate them based on their content.
Consultation
Discuss potential CSR programs with local officials, civic groups, citizen forums, and other key stakeholders to identify suitable ones.
Role of the Board
Approval
The CSR Policy that the CSR Committee came up with and making sure that the company spends at least 2% of its average net profit from the three previous financial years, as required by law.
Oversight & Monitoring
Making sure that funds set aside for CSR activities are used wisely and that progress is regularly monitored.
CSR Monitoring & Reporting
Unit-Level Monitoring
The Unit Head will establish a system to track progress, and the Registered Office will be regularly updated on the progress of CSR programs being carried out.
Trusts & Societies Oversight
MVS will obtain assurances from Trusts and Societies that the money is used only for the named projects and activities, and it reserves the right to request proof that the money is being used in this way. Any money not used immediately will be placed in Government securities and other legal securities or deposits, as required by law.
Statutory Reporting
Part 135 of the Companies Act, 2013, and the related Rules require the Company to include its CSR activities in the Directors' Report.
CSR Expenditure
Scope of CSR Expenditure
CSR expenditure includes all money spent on projects or programs related to CSR activities that the Board approved based on the recommendation of the CSR Committee. This includes corpus contributions. Any spending that goes against the CSR Policy won't count as CSR spending.
Surplus of CSR Projects
Any extra money that the company makes from CSR projects, programs, or activities will not be counted as business profits. Instead, it will be reinvested in CSR activities in line with applicable laws and regulations.
Policy Disclosure & CSR Reporting
Website Disclosure
Putting an annual report on the company's CSR activities and a copy of the CSR policy on the website so that anyone can read them.
Annual Report
Putting the names of the people on the CSR Committee and the text of the CSR Policy in the Annual Report.
Board's Report
Section 135 of the Companies Act, 2013 requires the Board's Report to include a list of reasons for any shortfalls in spending the CSR budget.
General Provisions
01
Interpretation
If there is any doubt about a part of this Policy or about something it doesn't cover, the matter will be brought to the attention of the CSR Committee.
02
Final Decision
The CSR Committee's interpretation and decision on these issues will be final, as long as they don't break any laws or rules.
03
Revision & Amendment
This CSR Policy may be changed or revised, along with guidelines, rules, regulations, and instructions issued by the government from time to time. If necessary to comply with applicable laws, the Company may change, add to, or remove any part of this Policy.
Definitions
Corporate Social Responsibility (CSR)
CSR Committee
CSR Policy
The CSR Committee wrote a policy and the Board of Directors approved it. It lists the activities the company will undertake under Schedule VII of the Companies Act, 2013.
Net Profit
Approval
Good CSR practice is also good for business. Companies known for responsible CSR efforts can build a reputation for social awareness, grow in ways that don't harm the environment, and become customers' first choice.