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Corporate Social Responsibility Policy

V-ACCESS (INDIA) PRIVATE LIMITED

1. TITLE

V-ACCESS (INDIA) PRIVATE LIMITED (hereinafter referred to as “Company”) has developed a Corporate Social Responsibility Policy (hereinafter referred to as “Policy”).

2. PURPOSE

The Policy lays down the principles and mechanisms for undertaking various programs in accordance with Companies Act. In alignment with its objective, principles and values, for delineating its responsibility as a socially and environmentally responsible corporate citizen.

3. OBJECTIVE

The main objective of CSR policy is to make CSR a key business process for sustainable development of the society by:

  • Ensuring an increased commitment at all levels in the organisation, to operate its business in an economically, socially & environmentally sustainable manner, while recognising the interests of its stakeholders;
  • Strive for economic development that positively impacts the society at large with minimal resource footprints.
4. COMPOSITION OF CSR COMMITTEE

The CSR Committee of V-ACCESS (INDIA) PRIVATE LIMITED shall be composed of at least two members of the Board of Directors. Members of the CSR Committee may be replaced by any other member of the Board.

A. RESPONSIBILITIES OF CSR COMMITTEE

The CSR Committee shall meet as often as its members deem necessary to perform the duties and responsibilities, but not less than once in a year.

Responsibilities of CSR committee includes:

Formulating and recommending to the Board of Directors the CSR policy and indicating activities to be undertaken specified in Schedule VII to the Act;

The CSR Committee will carry out the following functions:

  • Recommending the budget and managing the expenditure on CSR activities;
  • Overseeing of CSR Working Group and CSR activities.
  • To formulate and recommend an annual action plan in pursuance of CSR Policy covering the following aspects:
  1. The list of approved CSR projects or programs to be undertaken in areas or subjects specified in Schedule VII to the Act;
  2. The manner of execution of such projects or programs as specified in rule 4(1) of CSR Rules;
  3. The modalities of utilisation of funds and implementation schedules for the projects or programs;
  4. Monitoring and reporting mechanism for the projects or programs;
  5. Details of need and impact assessment, if any, for the projects undertaken by the company;
  6. Recommend changes to the Board, if any, needed in the annual action plan with reasonable justification to that effect.

To monitor the CSR Policy as approved by the Board from time to time. The CSR Committee should recommend the approach and direction of CSR activities to be undertaken by the company and also provide Guiding principles for:

  1. Selection of CSR projects / programmes / activities
  2. Implementation of CSR projects / programmes / activities

We believe that a targeted approach to corporate giving us to focus our resources to support identified needs in the most effective way. As healthcare and improving the trajectory of health are closest to our hearts, our efforts focus on strategic platforms to help advance health and improve people’s lives through targeted initiatives.

Chief Financial Officer or the person responsible for financial management shall certify to the Board about utilization of funds disbursed for the purposes and manner approved by the Board.

Board of Directors Report to include:

  • Contents of the CSR Policy and Composition of the CSR committee;
  • An annual report on the CSR in the format prescribed by the Ministry of Corporate Affairs;
  • Reasons for failure (if any) to spend required amount on CSR activities.
5. FOCUS AREA ON CSR

The Company’s CSR will focus on the following thrust areas:

  • To promote rural developments, including development of villages in rural India, with the aim of improving the living conditions of the inhabitants of these area
  • Health
  • Education
  • Disaster management
  • Any other activities covered under Schedule VII of the Companies Act, 2013
6. EXECUTION OF CSR ACTIVITIES

The Board of Directors will be responsible to execute the plan for CSR activities.

Any or all provisions of this CSR policy may be amended by the Board based on the recommendations of the CSR Committee or in accordance with any statutory guidelines that may be issued from time to time.

7. CSR BUDGET

In a financial year, the company shall spend on CSR Activities, as per and in accordance with the relevant provisions of the Companies Act, 2013. The company shall allocate a budget towards each of the CSR activities falling within the purview of the objectives of this CSR Policy.

The CSR expenditure shall include all actual expenditures including contribution to corpus or on project or programs relating to CSR activities recommended by the CSR Committee and approved by the Board of Directors.

Whole time director/Managing Director shall monitor the utilization of funds for the purposes set forth and certify to this effect.

Unspent CSR amount, if any, shall be transferred to separate account in accordance with the applicable CSR Rules from time to time.

8. ANNUAL ACTION PLAN

The CSR Committee shall formulate and recommend to the Board, an annual action plan which shall include the following:

  1. The list of CSR projects or programmes that are approved and to be undertaken by the company
  2. The manner of execution of such projects or programmes
  3. The modalities of utilisation of funds and implementation schedules for the projects or programmes;
  4. Monitoring and reporting mechanism for the projects or programmes; and
  5. Details of need and impact assessment, if any, for the projects undertaken by the company.
9. CAPITAL ASSETS

Capital asset acquired or created by CSR projects should be held by the beneficiaries of the said CSR project or a trust or a public authority for the benefits of all.

The company should take appropriate measure to ensure that such assets are utilized for the purpose it was meant for and should not be transferred or disposed off without prior permission of the company.

10. GENERAL
  1. Any surplus arising out of the CSR activity would not be a part of business profits of the company;
  2. Any or all provisions of the CSR Policy would be subject to revision/amendment;