Scribd Logo
Upload

Welcome to Scribd!

  • 12 views

    MRF Limited: Corporate Social Responsibility Policy

    Uploaded by

    Daniel Tan Dan Yi
    The document outlines a corporate social responsibility policy for MRF Limited. It details the objective of the policy, focus areas for CSR programs and projects, modalities for execution and implementation, budgeting, monitoring and reporting procedures, authorities, and the effective date.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    MRF Limited: Corporate Social Responsibility Policy

    Uploaded by

    Daniel Tan Dan Yi
    12 views5 pages
    The document outlines a corporate social responsibility policy for MRF Limited. It details the objective of the policy, focus areas for CSR programs and projects, modalities for execution and implementation, budgeting, monitoring and reporting procedures, authorities, and the effective date.

    Original Title

    Corporate-Social-Responsibility-Policy

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document outlines a corporate social responsibility policy for MRF Limited. It details the objective of the policy, focus areas for CSR programs and projects, modalities for execution and implementation, budgeting, monitoring and reporting procedures, authorities, and the effective date.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    12 views5 pages

    MRF Limited: Corporate Social Responsibility Policy

    Uploaded by

    Daniel Tan Dan Yi
    The document outlines a corporate social responsibility policy for MRF Limited. It details the objective of the policy, focus areas for CSR programs and projects, modalities for execution and implementation, budgeting, monitoring and reporting procedures, authorities, and the effective date.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 5

    1

    MRF LIMITED

    Corporate Social Responsibility Policy


    2

    TABLE OF CONTENTS

    Sl. No. Details Page

    1 Objective 3

    1. Programmes & Projects 3

    2. Modality of Execution & Implementation 4

    3. CSR Budget 4

    4. Monitoring & Reporting 4

    5. Authority & Amendments 5

    6. Effective Date 5
    3

    A. OBJECTIVE

    1. This policy has been prepared pursuant to and in accordance with the requirements
    of Section 135 of the Companies Act, 2013 (hereinafter called as “the Act” ) and
    the Companies (Corporate Social Responsibility Policy) Rules, 2014, notified by
    the Ministry of Corporate Affairs vide Notification dated 27th February, 2014
    (“CSR Rules”), as amended from time to time.

    2. The main objective of the Policy is to lay down the general framework of action
    for MRF to fulfil its Corporate Social Responsibility (“CSR”) and in particular to
    specify the activities and programmes to be undertaken and also specify the
    modalities of execution and implementation and monitoring process of such
    programmes.

    3. This policy shall apply to all CSR initiatives and activities taken up across the
    Company including those at factories and various other work-centres of the
    Company, for the benefit of different segments of the society.

    B. PROGRAMMES & PROJECTS

    1. MRF shall undertake projects in any one or more of the following focus areas:
    a. Eradicating hunger, poverty and malnutrition, promoting health care including
    preventive health care and sanitation including contribution to the Swach
    Bharat Kosh set-up by the Central Government for the promotion of sanitation
    and making available safe drinking water.
    b. Promoting education, including special education and employment enhancing
    vocation skills especially among children, women, elderly, and the differently
    abled and livelihood enhancement projects;
    c. Promoting gender equality, empowering women, setting up homes and hostels
    for women and orphans; setting up old age homes, day care centres and such
    other facilities for senior citizens and measures for reducing inequalities faced
    by socially and economically backward groups;
    d. Ensuring environmental sustainability, ecological balance, protection of flora
    and fauna, animal welfare, agroforestry, conservation of natural resources and
    maintaining quality of soil, air and water including contribution to the Clean
    Ganga Fund set-up by the central government for rejuvenation of river Ganga.
    e. Protection of 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;
    f. Measures for the benefit of armed forces veterans, war widows and their
    dependents;
    g. Training to promote rural sports, nationally recognized sports, Paralympic
    sports and Olympic sports;
    4

    h. Contribution to the Prime Minister‟s National Relief Fund or any other fund set
    up by the Central Government for socio – economic development and relief
    and welfare of the Scheduled Castes, the Scheduled Tribes, other backward
    classes, minorities and women;
    i. Contribution or funds provided to technology incubators located within
    academic institutions which are approved by the Central Government;
    j. Rural development projects.
    k. Slum area development.

    2. Within the focus areas mentioned in sub-clause 1 above, specific new projects may
    be approved by the Corporate Social Responsibility Committee („CSR
    Committee‟), as deemed appropriate.

    3. While undertaking CSR projects, preference shall be given to the local area or area
    of operation of the Company.

    4. The CSR project shall not be any activity which is undertaken in pursuance of its
    normal course of business. The CSR projects or programs or activities that benefit
    only the employees of MRF and their families shall not be considered as CSR
    activities in accordance with Section 135 of the Act. Any surplus arising out of the
    CSR projects or programs or activities shall not form part of the business profit of
    MRF.

    5. The CSR project shall comply with any other stipulation or restriction as provided
    under the CSR Rules or any clarification or circular issued by the Ministry of
    Corporate Affairs, from time to time.

    C. MODALITY OF EXECUTION & IMPLEMENTATION

    1. Each project may be executed in any of the following modes:

    a. Either directly by MRF


    b. Through registered trust or Society or a Section 8 Company established by
    MRF
    c. Any trust, society or Company, which is not established by MRF, having an
    established track record of three years in undertaking similar programs or
    projects, subject to the requirements specified in the CSR Rules
    d. As a consortium with other Companies

    2. While approving each specific project, the CSR Committee will prescribe the time
    period for implementation, mechanism for ensuring the end use of the funds and
    also appropriate reporting.

    3. All proposals for a CSR project should be submitted to the Company Secretary
    who in turn will place it before the CSR Committee for necessary consideration
    and approval.
    5

    D. CSR BUDGET

    1. The Annual CSR Budget shall be reviewed and recommended by the CSR
    Committee for each of the focus areas.

    2. CSR projects or programs or activities undertaken in India only shall amount to


    CSR Expenditure. The surplus, if any, arising out of any CSR project or program
    or activity shall not form part of the business profits of the Company.

    E. MONITORING AND REPORTING

    1. A report on progress of the CSR projects undertaken by the Company will be


    submitted to the CSR Committee with full details of cost incurred, date of
    completion and results achieved on a regular basis.

    2. In order to ensure proper end use of the funds, officials may be deputed to
    personally inspect / verify the execution of the project / expenditure incurred.

    3. A summarised report on implementation of the approved projects should be placed


    at least once in six months before the Committee.

    4. CSR initiatives of the Company will be reported in the Annual Report of the
    Company in compliance with Section 135 of the Companies Act, 2013 and rules
    made thereunder.

    F. AUTHORITY & AMENDMENTS

    This Policy has been approved by the Board of Directors of the Company based on
    the recommendations of the CSR Committee. This policy may be amended from
    time to time by the Board, as it deems appropriate.

    G. EFFECTIVE DATE

    This policy will come into force with effect from 30th October, 2014.

    You might also like