CORPORATE SOCIAL RESPONSIBILITY (CSR) POLICY
FOR THE PHARMACEUTICAL CORPORATION (I.M) KERALA LTD.
Corporate Social Responsibility (CSR) is the Company’s commitment to its stakeholders to conduct business in an economically, socially and environmentally sustainable manner that is transparent and ethical. THE PHARMACEUTICAL CORPORATION (I.M.) KERALA LTD. is committed to undertake CSR activities in accordance with the provisions of Section 135 of the Indian Companies Act, 2013 and related Rules.
AIMS & OBJECTIVES
(i) THE PHARMACEUTICAL CORPORATION (LM.) KERALA LTD shall promote projects Those are:
(a) Sustainable and create a long term change;
(b) Have specific and measurable goals in alignment with the company's philosophy;
(c) Address the most deserving cause or beneficiaries.
(ii) To establish process and mechanism for the implementation and monitoring of the CSR Activities for the Company.
1. COMMITTEE COMPOSITION
The CSR Committee of the Board shall be composed of at least three (3) Directors, Members of the CSR Committee may be replaced by any other member of the Board.
The present members of CSR committee are
2. COMMITTEE MEETINGS
The CSR Committee shall meet as often as its members deem necessary to perform the duties and responsibilities but not less than quarterly.
3. DUTIES & RESPONSIBILITIES OF CSR COMMITTEE
Review of the CSR activities to be undertaken by THE PHARMACEUTICAL CORPORATION (I.M.) KERALA LTD. The CSR Committee is guided by the list of Activities specified in Schedule VII to the Companies Act, 2013 and appended to this Policy as Appendix - 1. Appendix 1 may be revised in line with any amendments/inclusions made To Schedule VII of the Companies Act, 2014.
Formulate and recommend to the Board the CSR activities/programs to be undertaken by the Company.
Recommend the CSR Expenditure to be incurred on the CSR activities/programs.
Institute a transparent mechanism for implementation of the CSR projects and activities Effectively monitor the Execution of the CSR activities.
Prepare an annual report of the CSR activities undertaken for the company and submit such Report to the Board
4. RESPONSIBILITY OF THE BOARD
(i) Approve the CSR Policy and the CSR Expenditure after taking into consideration the recommendations made by the CSR committee
(ii) Ensure the CSR spending every financial year of at least 2% of average net profits made during immediately preceding 3 financial years/ in pursuance with the Policy.
(iii)Ensure that CSR activities included in the CSR Policy are undertaken by THE PHARMACEUTICAL CORPORATION (I.M.) KERALA LTD. and those activities are related to the activities specified in Schedule VII of the Companies Act.
5. CSR EXPENDITURE
(i) In every financial year, THE PHARMACEUTICAL CORPORATION (i.M.) KERALA LTD. Shall spend a minimum of 2% of its average Net Profits in the immediately preceding 3 Financial years. Average Net profits shall mean the net profits of the Company as per The Profit & Loss Statement prepared in accordance with the Companies Act, 2013CSR Expenditure shall mean all expenditure incurred in respect of specific projects/programs Relating to the approved CSR activities.
(ii) CSR Expenditure shall not include expenditure on an item not in conformity or not in line With activities which fall within the purview of the CSR activities listed in Schedule VII.
(iii) CSR Expenditure shall not include Projects or programs or activities undertaken outside India.
(iv)The surplus arising out of the CSR activities or projects shall not form part of the business Profit of THE PHARMACEUTICAL CORPORATION (I.M.) KERALA LTD.
6. CSR ACTIVITIES – PROJECTS
(i) THE PHARMACEUTICAL CORPORATION (I.M.) KERALA LTD. shall promote CSR Activities/Projects in the field of :
A. Promoting preventive health care - conducting free medical camps in all parts of Kerala And organize continuous medical education programme for doctors and sponsorship in Sports activates
B. Ensuring environmental sustainability, ecological balance, protection of flora and fauna -to take up cultivation of medicinal Plants and distribute the same at free of cost.
(ii)Company may also undertake other CSR activities in line with Schedule VII.
(iii)The CSR activities shall be undertaken in locations within India. Company shall give preference to the local areas and the areas around which Company operates while considering the activities to be undertaken and spending the amount earmarked for CSR activities. However, Company has a multi-state presence and hence may be guided by the requirements of the specific CSR activity/program in determining the locations within India.
CSR ACTIVITIES LISTED INSCHEDULE VII OFTHE COMPANIES ACT, 2013
CSR shall focus on social, economic and environmental impact rather than mere output and outcome. Activities which are ad hoc and philanthropic in nature shall be avoided. Various activities that can be undertaken in general under CSR are outlined below:
Eradicating extreme hunger and poverty and malnutrition, promoting preventive healthcare and sanitation and making available safe drinking water;
Promotion of education; including special education and employment enhancing vocation skills especially among children, woman, elderly and the differently abled and livelihood enhancement projects;
Promoting gender equality and 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 measures for reducing inequalities faced by socially and economically backward groups;
Ensuring environmental sustainability/ ecological balance, protection of flora and fauna. Animal welfare, agroforestry, conservation of natural resources and maintaining of quality of soil, air and water;
protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up of public libraries; promotion and development of traditional arts and handicrafts;
Measures for the benefit of armed forces veterans, war widows and their dependents;
Training to promote rural sports, nationally recognized sports, and Paralympic sports and Olympic sports;
contribution to the Prime Minister's National Relief Fund or any other fund set up by the Central Government or the State Governments for socio-economic development and relief and welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women;
Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government; and Rural development projects.