CORPORATE SOCIAL RESPONSIBILITY (CSR) POLICY FOR C.R.I. PUMPS PRIVATE LIMITED

1) INTRODUCTION :

Corporate Social Responsibility (CSR) is a Company’s commitment to its stakeholders to conduct business in an economically, socially and environmentally sustainable manner that is transparent and ethical.

C.R.I. Pumps Private Limited (C.R.I. Pumps) commits itself to contribute to the society in ways possible for the organization and has set up its committed core CSR team, as a means for fulfilling this commitment.

2) AIMS & OBJECTIVES :

To develop a long-term vision and strategy for C.R.I. Pumps CSR objectives, and create an overview of activities to be undertaken, in line with Schedule VII of the Companies Act, 2013.

3) C.R.I PUMPS SHALL PROMOTE CSR ACTIVITIES IN THE FOLLOWING AREAS

The Company may from time to time undertake any project, program and activity on one or more of the following areas.

Promotion of Healthcare including preventive health care, community healthcare and Sanitation.
Promotion of Education by improving the educational standards of Government run schools and other needy schools.
Promotion of Rainwater harvesting projects, strengthening and desilting of water bodies and carrying out awareness programme on water conservation.
Promotion of elder care facilities, homes, daycare center, and such other facilities for senior citizens, working women and orphan. And also provide necessary help to take care of them.
Promotion of best /innovative practices in the field of Agriculture.
Apart from the above focus areas, company may also undertake any other projects, programs and activities falling within the permissible activities prescribed under Companies Act, 2013, rules made thereunder, any circular/notification/guidelines/clarification issued thereunder.

4) CSR COMMITTEE :

CSR Committee shall be formed by the board of C.R.I. Pumps as per the applicable laws and the committee shall be responsible for the implementation/monitoring and review of this policy and various projects/activities undertaken under the policy. The CSR Committee shall submit periodical reports to the board of directors.

5) DUTIES & RESPONSIBILITIES OF CSR COMMITTEE

Formulate and recommend to the Board of C.R.I Pumps, the CSR activities/programs to be undertaken, 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 C.R.I. Pumps and submit the report to the Board.

6) RESPONSIBILITY OF THE BOARD :

Approve the CSR Policy and the CSR Expenditure after taking into consideration the recommendations made by the CSR committee. Ensure the CSR spending every financial year of at least 2% of average net profits made by the company, during immediately preceding 3 financial years, in pursuance with the Policy. Ensure disclosure of the contents of the CSR Policy on the website. Preparation of annual report on the CSR in the prescribed format as per the Companies Act, 2013.

7) CSR EXPENDITURE:

In every financial year, the company shall spend 2% of its average Net Profit in the immediately preceding three (3) financial years. CSR Expenditure shall mean all expenditure incurred in respect of specific projects/programs relating to the approved CSR activities of the C.R.I. Pumps.

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 above. The surplus arising out of the CSR activities or projects shall not form part of the business profit of C.R.I. Pumps.

8) IMPLEMENTING CSR ACTIVITIES :

The implementation and execution of the CSR activities/projects shall be carried out through the company’s CSR team, headed by the CSR Committee Director.

C.R.I. Pumps shall undertake the CSR activities directly and also through various implementing agencies such as, NGO’s, non-profit organizations,Charitable Trust, Societies , Welfare associations etc. Such implementing agencies shall have an established track record as prescribed under the law.

C.R.I. Pumps may collaborate with other companies for undertaking the CSR projects/programs subject to fulfillment of separate reporting requirements as prescribed in the Rules.

Some of the initiatives taken up by C.R.I. Pumps will facilitate the involvement of its employees as volunteers in ongoing CSR activities and events, giving them an opportunity to engage in socially meaningful activities, thus, enabling them to realize their full potential and role as socially responsible citizens (Employee Volunteer Programs).

The initiatives undertaken may be communicated to the employees through specific awareness campaigns, so as to enable maximum participation.

9) CSR REPORTING

The Board of C.R.I. Pumps, in its Annual Report shall include the details of the CSR activities undertaken in the Financial Year.

The CSR Committee shall provide detailed report on the implementation and monitoring of the CSR programs and that it is in compliance with CSR objectives of C.R.I. Pumps, which shall form part of the Board’s Report.

C.R.I. Pumps shall display on its website (www.crigroups.com) the contents of its CSR Policy and other information as may be required to be displayed.

10) AMENDMENTS :

The Board of Directors on its own and/or on the recommendation of CSR committee can amend its policy as and when required deemed fit. Any or all provisions of CSR Policy would be subjected to revision/amendment in accordance with the regulations on the subject as may be issued from relevant statutory authorities, from time to time.

11) DISCLOSURE :

All disclosures, display and reporting requirement related to CSR shall be made in accordance with the provisions of the Act and Rules made thereunder.