Corporate Social Responsibility Policy

The world is facing numerous challenges ranging from poverty, malnutrition, environmental degradation, poor healthcare and climate change, inter alia. The social responsibility policy focuses on using the capabilities of business to improve lives and contribute to sustainable living, through contributions to local communities and society at large.

The objective of the company's CSR policy is to lay down guiding principles for proper functioning of CSR activities to attain sustainable development of the society around the area of operations of the Company.

a) “Act” means the Companies Act, 2013 and rules made thereunder (as amended from time to time and prevalent on date),

b) “Corporate Social Responsibility” means and includes:-
(i) Projects or Programs relating to activities specified in Schedule VII of the Act, or
(ii) Projects or Programs relating to activities undertaken by the Board of Directors of the Company in pursuance of the recommendation by the CSR Committee of the Board as per the declared CSR Policy of the Company subject to condition that such policy shall cover subject enumerated in Schedule VII of the Act.

Ministry of Corporate Affairs, Government of India has notified Section 135 being provision relating to CSR with effect from 1st April, 2014 and also notified rules namely the Companies (Corporate Social Responsibility Policy) Rules, 2014 which came into effect from the said date. The provisions relating to CSR is required to be complied with by the company which has a net worth of INR 500 Crores or more or Turnover of INR 1,000 Crores or more or net profit of INR 5 Crores or more in the immediately preceding financial year. Such Company fulfilling any one of the tests, shall spend atleast 2% of the “average net profit” made during 3 immediately preceding financial year as per CSR Policy. Net Profit means net profit of the company less profit arising from any overseas branch(s) whether operated as a separate company or otherwise and dividend received from other companies in India which are covered & complying with sec. 135 of Companies Act.

The CSR Committee will decide on the location of CSR Activities.

The Company proposes to carry out the CSR activities in the following areas subject to the approval of the Board / CSR committee from the time to time and subject to allocation of budget and programme/ project to be approved by the Board / CSR Committee:

(i) 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.
(ii) Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects.
(iii) Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centers and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups.
(iv) 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.
(v) 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 art and handicrafts;
(vi) Measures for the benefit of armed forces veterans, war widows and their dependents;
(vii) Training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sports
(viii) 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 schedule caste, tribes, other backward classes, minorities and women;
(ix) Contributions or funds provided to technology incubators located within academic institutions which are approved by the central govt.
(x) Rural development projects
(xi) Slum area development. Explanation.- For the purposes of this item, the term ‘slum area’ shall mean any area declared as such by the Central Government or any State Government or any other competent authority under any law for the time being in force.
(xii) Disaster management, including relief, rehabilitation and reconstruction activities.

The CSR Committee shall ensure that the CSR contributions made are in line with the Companies Act, 2013 and any further amendments made thereto.

What is not CSR?

Following activities will not be considered as CSR Activities:
(i) Activities carried out in pursuance of normal course of business of a Company
(ii) Activities which is carried out solely for the benefit of the employees or their relatives,
(iii) Contribution of any amount directly or indirectly to any political party under the provisions of the Companies Act, 2013.

The areas in which CSR activities to be carried out by the Company as enumerated in the policy, can be carried out by the Company directly or through any Welfare Trust or through any registered Trust or registered society or a company established by the company, under section 8 of the Act or any specified agencies nominated by the CSR Committee from time to time and as any other mode allowed under the Act. The same can be decided by the Committee from time to time.

A company may also collaborate with other companies for undertaking projects or programs or CSR activities in such a manner that the CSR Committee or respective companies are in a position to report separately on such projects or programs in accordance with Companies (Corporate Social Responsibility Policy) Rules, 2014 (as amended from time to time).

Company shall allocate funds to the tune of at least 2% of the average net profits of the company during the immediately preceding three financial years towards the CSR activities as mentioned above. The CSR committee will spend the funds for each / any of the programme or project or activities as recommended by the CSR Committee and approved by the Board.

The CSR committee shall monitor the implementation of project / programme / activity as decided by the CSR Committee and approved by the Board from time to time and also to adhere to the timeline and budget for various project / programme / activity.

(a) CSR policy of Amit Pomeg-Tech Private Limited
(b) Provisions of Companies Act, 2013 relating to CSR and Companies (CSR) Rules, 2014.
(c) Any subsequent notification / circular / amendments / modification / revision / addendum to the aforesaid acts and rules issued by the Ministry of Corporate Affairs, Government of India.

(a) The company reserves the right to modify, cancel, add or amend any of the above rules / guidelines within the broad parameters of the provisions of Companies Act, 2013 and Companies (CSR) Rules, 2014.
(b) In case of any doubt with regard to any of the provisions of the policy and also in respect of any matters not covered therein, the interpretation and decision of the Chairman of the Board shall be final.