Title and Applicability

  • The Prudent Corporate Advisory Services Limited (hereby referred to as “The Company”) Corporate Social Responsibility (CSR) Policy has been developed in accordance with section 135 of the Companies Act 2013 (referred to as the Act in this policy) on CSR and in accordance with the CSR rules (here by referred to as the Rules in this policy) notified by the Ministry of Corporate Affairs, GOI on 27th February 2014.
  • The Policy shall apply to all CSR projects/programmes undertaken by the Company in India as per Schedule VII of the Act.

Vision

  • Company Vision is to provide services and facilities in needed area of society and use CSR Fund in a way that society will get maximum benefit out of this activity.

Objectives of the Company CSR

  • We see ourselves as a responsible corporate citizen and Sustainable Development forms an integral part of all the work we do.
  • We are committed to develop social relevant innovative solutions.
  • We are committed to promote education in and around our areas of operations as a long- term investment in society’s future viability.
  • We are committed to balance economic growth with ecological and social responsibility.
  • We are committed to support society with respect to Medical requirements in and around areas where we operate our business.
  • We are also keen to develop and support Sports and Yoga related activities.
  • We are committed to support activities related to Woman Empowerment in Rural and Suburb areas.

Validity of CSR policy

  • The Company CSR Policy has been approved by the Board on 12th March, 2015.
  • The CSR policy may be amended as required by the Board.

Maintenance of CSR policy

The CSR policy will be maintained by the CSR Committee constituted by the board. Further the CSR policy will be reviewed by the Board annually. Members of the CSR Committee as follow-

  • 1. Mr. Sanjay Shah - Chairman
  • 2. Mr. Shirish Patel - Member
  • 3. Mr. Chirag Shah – Member
  • The Company Board of Directors shall ensure that in each financial year the Company spends at least 2% of the average Net Profit made during the three immediate preceding financial years.

    “Net profit” means the net profit as per the financial statement of the company prepared in accordance with the applicable provisions of the Act, but shall not include the following:

    • Any profit arising from any overseas branch or branches of the company, whether operated as a separate company or otherwise, and
    • Any dividend received from other companies in India which are covered under and complying with the provisions of section 135 of the Act.
  • As per section 135 of the Companies Act, the Company will report reasons for under spending of the allocated CSR budget of the current financial year in the template provided by the Ministry of Corporate Affairs. This reporting will be done in Annual Report and signed off by the Board of Directors.
  • In case of any surplus arising out of CSR projects the same shall not form part of business profits of the Company

Focus Areas

The Company will focus primarily on the following areas:

  • Promoting education, including special education and employment enhancing vocation skills especially among children, women, elders, and the differently able and livelihood enhancement projects
  • Promoting gender equality, empowering women, setting up 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, agro forestry, conservation of natural resources and maintaining 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 public libraries; promotion and development of traditional arts and handicrafts
  • Training to promote rural sports, nationally recognized sports.
  • Contribution to prime ministers 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, schedules tribes, other backward classes, minority and women.
  • Contributions and funds provided to technology incubators located within academic institutions which are approved by central government.
  • Eradicating hunger, poverty and malnutrition, promoting healthcare including preventive healthcare and sanitation and making available safe drinking water.

Implementation

The Company CSR programmes will be identified, implemented and if need be, modified as per the Board approved CSR policy. This CSR Policy builds on the learning and good practices of the ongoing CSR activities initiated by the Company in 2014. To ensure the programmes are in compliance with the Act and Rules, a stocktaking of existing activities has been completed. The scale of the programmes will be revised or new programmes devised to meet the spending requirements as per the new Act.

Roles and Responsibilities

  • constituting the CSR committee through a Board resolution with the defined composition and tenure.
  • approve the CSR policy as formulated by the CSR Committee through a Board resolution
  • ensure that every financial year funds committed by the Company for CSR activities are utilized effectively and will monitor implementation regularly.
  • disclose in its Annual Report names of CSR Committee members, the content of the CSR policy and ensure annual reporting of its CSR activities on the Company website.
  • ensure annual reporting of CSR policy to the Ministry of Corporate Affairs, Government of India, as per the prescribed format.

CSR Committee:

  • I. Composition of the CSR committee: will consist of three or more directors of the Company
  • Responsibility of the CSR Steering Committee:
    • Responsible to report to the CSR Committee on programme implementation updates. plan annual budgets for CSR activities based on audits
    • Asses the proposals for new CSR initiatives/ Programmes and facilitate review by the Legal and Compliance Team to ensure alignment with the companies Law.
    • Allocate resources for implementation of programmes.
    • any other activities that may be required by the CSR Committee to effectively deliver the CSR programmes