STEER Engineering Private Limited Corporate Social Responsibility Policy 1. Background

STEER Engineering Private Limited
Corporate Social Responsibility Policy
1. Background
The Companies Act, 2013 introduced Corporate Social Responsibility (CSR) which mandates
qualifying companies to constitute Corporate Social Responsibility Committee to effectively
monitor CSR activities of the Company. The CSR concept in India is governed by Section 135 of
the Companies Act, 2013 and the Companies (Corporate Social Responsibility Policy) Rules,
2014 (hereinafter referred to as “the CSR Rules”) lay down the framework and modalities for
carrying out CSR activities which are specified in Schedule VII of the Act.
Corporate Social Responsibility is a management concept whereby companies integrate social

and environmental concerns in their business operations and contribute to sustainable
development of society.
2. Objective and Scope
STEER Engineering Private Limited (herein after referred to as the Company) is focused on the
development of advanced platform technologies and processes to improve the quality of life
and change the way people live, eat and stay healthy through its vision to “Steer a new world”.
The Company is committed in its responsibilities towards its environment and society. It aims to
bring about a positive contribution to the society through effective implementation of its CSR
activities.
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CSR activities shall be undertaken in compliance of the Schedule VII of the Companies Act, 2013
and the Company shall focus on any one or more of the below mentioned activities :-
• work towards upliftment of poor in rural areas from poverty

• Promotion of education
• Promoting gender equality and empowering women
• Improve maternal health, work towards decreasing iron deficiency based anemia and
contributing to reducing fatigue & fatigue related output loss in our country
• Contributing towards reducing the cost of medication of human immunodeficiency virus
acquired immune deficiency syndrome, malaria and other diseases by providing technology
• Ensuring environmental sustainability – work on improving the renewable content of
hydrogels for agriculture and hygiene products
• Work on bio-degradability of plastics
• Contribute towards creating value from waste plastic – solutions for converting recycled
multi stream plastic into useful material
• Vocational skill enhancement through internships
• Social business projects
• 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 funds for the welfare of the Scheduled Castes, the Scheduled Tribes, other backward
classes, minorities and women; and
• Such other matters as may be prescribed
3. CSR Constitution
Pursuant to the provisions of Section 135 of the Act, the Board of Directors has constituted the
CSR Committee. The Members of CSR are appointed by the Board of Directors of the Company
comprising of at least two or more Directors. Tenure of the membership in the Committee shall
be based on tenure of the Directorship of the Company. The Directors of the Committee may
be changed by the Board of Directors as and when required.
Accordingly, the constitution of CSR Committee formed by STEER Engineering Private Limited is
as follows:-
Sl No Name of the member Designation in committee Designation in company

1. Mr. Satish Padmanabhan Chairman Joint Managing Director
2. Dr. Babu Padmanabhan Member Managing Director and CKO
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4. Functions and Powers of the Committee
For effective implementation of CSR activities, the CSR Committee is vested with the following
functions and powers –
a) formulate CSR policy and recommend the same to the Board of Directors of the Company
for approval
b) recommend to the Board for approval of CSR budget to undertake CSR activities
c) create transparent monitoring mechanism for monitoring CSR activities undertaken by the
company
d) overseeing CSR spending and reporting to the Board in respect of CSR activities undertaken
by the company
e) authorize executives of the Company to attend the CSR Committee Meetings, if necessary
f) monitor CSR policy from time to time
To discharge its functions and powers as mentioned above, the CSR committee shall convene
meetings as and when necessary and ensure smooth implementation of CSR activities.
5. CSR Expenditure
The Company undertakes to spend on its CSR activities every year, 2% of its average Net Profits
during every block of three years. ‘Net Profit’ shall be calculated in the manner prescribed by
the Act and CSR Rules. Any ‘Income’ or ‘Surplus’ that may arise from its CSR activities would
also be included in the CSR corpus and will not form part of business profits of the Company.
The CSR activities of the Company shall not include any benefits which are exclusively for the
employees of the Company or their family members.
CSR expenditure shall include all expenditure including contribution to corpus for projects or
programs relating to CSR activities approved by the Board on the recommendation of its CSR
Committee, but do not include any expenditure on an item not in conformity or not in line with
activities which fall within the purview of Schedule VII of the Act.
6. Amendment to CSR Policy
Based on the recommendations of the CSR Committee or on its own, the Board of Directors of
the Company shall have the powers to revise/modify/amend this Policy from time to time, as
the Board may think fit. CSR policy shall be amended to bring in line with the amendments to
any or all of the provisions of Companies act or rules applicable to CSR.
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STEER Engineering Private Limited

Corporate Social Responsibility Policy

Corporate Social Responsibility is a management concept whereby companies integrate social

2. Objective and Scope

• work towards upliftment of poor in rural areas from poverty

Sl No Name of the member Designation in committee Designation in company

6. Amendment to CSR Policy

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