CORPORATE SOCIAL RESPONSIBILITY ("CSR")

Reviewer: -

Corporate Social Responsibility Committee

Approver: -

Board of Directors

Introduction

Kusum Healthcare Pvt Ltd (“KUSUM” or the “Company”) is deeply committed to fulfil its responsibility as a corporate citizen and integrate it into the Company’s core business strategy. KUSUM’s guidelines and mechanism for undertaking socially useful programmes for welfare & sustainable development of the community at large, is titled as the “Kusum CSR Policy”.

Applicability

KUSUM’s CSR Policy has been prepared in accordance with Section 135 & Schedule VII of the Companies Act, 2013 (“Act”) along with Companies (Corporate Social Responsibility Policy ) Rules 2014 (“Rules”).

Board Responsibility

The Board of KUSUM will be responsible for:

  1. Approving the CSR policy as formulated by the CSR Committee
  2. Ensuring that in each financial year the Company spends at least 2% of the average net profit before taxation.
  3. Ensuring that every financial year funds committed by the Company for CSR activities are utilized effectively, and regularly monitoring implementation.
  4. Disclosing in its Annual Report the names of CSR Committee members, the content of the CSR policy and ensure annual reporting of its CSR activities on the Company website.

Constitution of the CSR Committee

The Board has constituted the “CSR Committee” on April 15, 2014. The Committee shall consist two Director of the Company as member of the Committee. The present constitution of the CSR Committee is as follows:

Mr. Sanjeev Gupta, Chairman
Mr. Badri Prasad Gupta, Member

The Board has authority to reconstitute this Committee from time to time.

Roles and Responsibilities of the Committee:

The roles and responsibilities of the Committee shall be the following:

  1. Formulate, monitor and recommend to the Board, the CSR Policy in compliance to Section 135 of the Companies Act 2013
  2. Identify activities to be undertaken as per Schedule VII of the Companies Act 2013
  3. Recommend to the Board, modifications to the CSR Policy as and when required
  4. Recommend to the Board, the amount of expenditure to be incurred on the activities undertaken
  5. Review the performance of the Company in the area of CSR, including the evaluation of the impact of the Company's CSR activities
  6. Review the Company's disclosure of CSR matters
  7. Approving the budgetary allocation funds to various units/groups monitoring the CSR activities.
  8. Consider other functions, as defined by the Board, or as may be stipulated under any law, rule or regulation.

Meetings and Quorum

Committee shall hold Meeting as and when required.Two members present shall form the quorum for the meeting of the Committee.

CSR Funding And Allocation

KUSUM shall spend in each financial year, at least 2% of the average net profits before taxation of the company made during the three immediately preceding financial years. The total budgetary allocation shall be approved by the Board of Directors.

Any unspent CSR allocation of a particular year, will be reviewed by the CSR Committee and decision would be taken on whether the unspent amount should be carried over to the subsequent year/s. The CSR Committee, while determining the requirement for carry over to next year, will consider various factors like availability of desired projects, utilisation trend, practical aspects of spending the required amount in a particular timeframe and best interests of all the stakeholders

However, the reason for not being able to spend shall be disclosed.

CSR Projects/Activities

The thrust of CSR shall be in the following areas, with special attention to the development of weaker/marginalized/under privileged sections of the society including SC/ST/OBC/ Minorities, women and children, BPL families, old and aged, physically challenged etc.

  • eradication of extreme hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water
  • promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects
  • 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 Caste, the Scheduled Tribes, other backward classes, minorities and women
  • contribution to Corpus of a Trust/Society/section 8 companies etc where such entities is created exclusively for undertaking CSR activities or where the corpus is created exclusively for a purpose directly relatable to subject covered in Schedule VII of the Act.
  • upliftment of the Marginalized and Underprivileged Sections of the Society by providing Education (Free literacy programme at various centers in slum/backward areas) and Aiding Institutions of Differently Abled/Disabled/ Handicapped persons
  • Community Healthcare
    i) General / specialized Health camps
    ii) Specialized Medical treatment for reducing child mortality and improving maternal health.
    iii) Health Awareness camps (HIV/AIDS, General Health etc.)
  • Such other activities as may be permitted under the laws.

The CSR activities shall be as per Schedule – VII (notified on 27.02.2014 by Ministry of Corporate Affairs) as part of the Companies Act, 2013 and KUSUM's CSR activities are arranged according to Schedule-VII.

Selection & Need Assessment of CSR Projects/ Activities

All the requests/applications from Villagers/Gram Sabha's / Panchayat / Ward Members/NGOs/ Trusts/ Societies/Beneficiaries etc. shall be scrutinized and screened by CSR Cell and then their need assessment would be arranged.The need assessment/baseline survey shall be carried out through in-house expertise and recourses. However, in case of specialized CSR projects/activities for which in-house capacity is not available, the baseline survey/need assessment shall be carried out by specialized agencies.

In any case, the Company shall maintain the documentary evidence of having got the need assessment study done through its own expertise and resources, or through some specialized agencies, or having accessed reliable data in this regard from recognized authoritative secondary sources.

Approval of CSR Projects/Activities

All the CSR projects/activities shall be approved by CSR Committee and ratified by Board of Directors.

Planning, Implementation & Monitoring

The CSR policy is implemented as per the Act and the Rules. The CSR policy will be implemented ensuring that projects/programmes as budgeted are duly carried out. CSR spends will be closely monitored and funds shall be released against verified utilizations as per the approved work plans. This may include monthly field visits, comprehensive documentation, and regular interaction with beneficiary communities. Further, CSR spends will be audited in an accountable and transparent manner.

Policy Review

This Policy is framed based on the provisions of the Companies Act, 2013 and rules thereunder. In case of any subsequent changes in the provisions of the Companies Act, 2013 or any other regulations which makes any of the provisions in the Policy inconsistent with the Act or regulations, then the provisions of the Act or regulations would prevail over the Policy and the provisions in the Policy would be modified in due course to make it consistent with law.

This Policy shall be reviewed by the Corporate Social Responsibility Committee as and when any changes are to be incorporated in the Policy due to change in regulations or as may be felt appropriate by the Committee. Any changes or modification on the Policy as recommended by the Committee would be given for approval of the Board of Directors.

This Policy is dated April 30, 2014.

For and on behalf of the
Corporate Social Responsibility Committee of Kusum Healthcare Pvt Ltd

Sanjeev Gupta
Chairman of the Corporate Social Responsibility Committee


CERTIFICATES

KEEP IN TOUCH

Kusum Healthcare Pvt Ltd

Regd. Office: D-158A, Okhla Industrial Area

Phase-1, New Delhi-110020, India

Tel: 011-41005147, 40514919

Fax: +91-11-40527575

Email: kusumhealth@kusumhealthcare.com

CIN: U65929DL1997PTC085780


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