Policy on Corporate Social Responsibility

  1. BACK GROUND & INTRODUCTION
    This document lays down the framework of Corporate Social Responsibility at “JEKSON VISION PRIVATE LIMITED” and defines the Policy for the same. This document shall be under the authority of the Board of Directors of the Company. The Corporate Social Responsibility (CSR) Policy of the Company is aligned with its overall commitment to maintaining the highest standards of business performance. We recognize that our business activities have direct and indirect impact on the society. The Company strives
    to integrate its business values and operations in an ethical and transparent manner to demonstrate its commitment to sustainable development and to meet the interests of its stakeholders.

    • Scope of CSR Policy
      To take an active role and responsibility in empowering local communities to achieve their ambitions focusing on environmental growth, socio–economic development, achieve positive perception of Company in areas of operation & demonstrate leadership
      in Corporate Citizenship.
    • Applicability
      This Policy shall apply to all the CSR initiatives and activities taken up at the Company, for the benefit of different segments of the society, specifically the deprived, under‐privileged and differently abled people.
    • Definition
      • “Act” – Act hereinafter means The Companies Act, 2013.
      • “Board” – means Board of Directors of the Company.
      • “CSR” – means Corporate Social Responsibility and includes but is not limited to;
        1. Projects or programs relating to activities specified in Schedule VII to the Act; or
        2. Projects or programs relating to activities undertaken by the Board of Directors of the Company in pursuance of recommendations of the CSR Committee of the Board as per declared CSR Policy of the Company subject to the condition that such policy will cover subjects enumerated in Schedule VII of the Act.
      • “Committee” – means the Corporate Social Responsibility Committee of the board
      • “Policy” – means Corporate Social Responsibility Policy or CSR Policy.
      • “Rules” – means Companies “Corporate Social Responsibility” Rules, 2014.
      • Ongoing Project: Ongoing Project means a multi-year project undertaken by a Company in fulfilment of its CSR obligation having timelines not exceeding three years excluding the financial year in which it was commenced and shall include such project that was initially not approved as a multi-year project but whose duration has been extended beyond one year by the board based on reasonable justification.
  2. CSR DRIVING PRINCIPLES
    • Vision
      In line with the Company’s Vision, through its CSR initiatives, it will continue to enhance value creation in the society and in the community in which it operates, through its services, conduct & initiatives, so as to promote sustained growth for the society and
      community, in fulfillment of its role as a Socially Responsible Corporate, with environmental concern.
    • Mission
      The CSR Policy of the Company aims to achieve, consolidate and strengthen Good Corporate Governance including socially and environmentally responsible business practices that balance financial profit with social well-being.
    • Values & Commitment
      Ensure an increased commitment at all levels in the organization, to operate its business in an economically, socially & environmentally sustainable manner, while recognizing the interests of all its stakeholders.
      To directly or indirectly take up activities those benefit the communities and results in enhancing the quality of life & economic well‐being of the local populace.
      To generate, through its CSR initiatives, a community goodwill for the company and help reinforce a positive & socially responsible image as a corporate entity.
  3. Scope of CSR activities
    For purposes of focusing its CSR efforts in a continued and effective manner, the following thrust Areas have been identified:

    1. Eradication of hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation including contribution to the Swachh Bharat Kosh set‐up by the Central Government for the promotion of sanitation and making available safe drinking water;
    2. Promotion of education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;
    3. Promotion of gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups.
    4. 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 including contribution to the Clean Ganga
      Fund set up by the Central Government for rejuvenation of river Ganga;
    5. 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;
    6. Measures for the benefit of armed forces veterans, war widows and their dependents;
    7. Training to promote rural sports, nationally recognized sports, Paralympics sports and Olympic sports;
    8. 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 Castes, the Scheduled Tribes, other backward classes, minorities and women;
    9. Contributions or funds provided to technology incubators located within academic Institutions which are approved by the Central Government;
    10. Rural development projects;
    11. Slum Area Development i.e. any area declared as the term ‘slum area’ by the Central Government or any State Government or any other competent authority under any law for the time being in force;
    12. Disaster management, including relief, rehabilitation and reconstruction activities.
  4. COMPOSITION OF CSR COMMITTEE:
    The committee at Company level would be headed by the Board, and would include:
    Mr. Bhavna Jitendra Shah- Chairman
    Mr. Rishal Jitendra Shah- Member
  5. IMPLEMENTATION & MONITORING
    • The Board shall ensure that the CSR activities are undertaken by the company itself or through,
      • a company established under section 8 of the Act, or a registered public trust or a registered society, exempted under sub-clauses (iv), (v), (vi) or (via) of clause (23C) of section 10 or registered under section 12A and approved under 80 G of the Income Tax Act, 1961 (43 of 1961), established by the company, either singly or along with any other company; or
      • a company established under section 8 of the Act or a registered trust or a registered society, established by the Central Government or State Government; or
      • any entity established under an Act of Parliament or a State legislature; or
      • a company established under section 8 of the Act, or a registered public trust or a registered society, exempted under sub-clauses (iv), (v), (vi) or (via) of clause (23C) of section 10 or registered under section 12A and approved under 80 G of the Income Tax Act, 1961, and having an established track record of at least three years in undertaking similar activities.
    • CSR Committee of the Company will be responsible for the monitoring of various CSR projects or programs undertaken by the Company directly or indirectly. The CSR Committee will meet whenever necessary and shall ensure that:
      • Company undertakes the CSR activities as provided in the CSR policy.
      • The projects/ programs are implemented as per the program approved by the Board.
      • The budget allocated for each of the project is utilized for the projects as per the Approved plans.
      • The objective of the project/program is achieved as per the plans.
      • Wherever projects/programs are undertaken in partnership with one or more organizations/ trust/ agencies, the part of the project or program undertaken by the Company shall be distinguishable and necessary supporting documents in respect of the same shall be obtained from the other partners/implementing agency on an annual basis.
    • Where the amount to be spent by a company under sub-section (5) does not exceed fifty lakh rupees, the requirement under sub-section (1) for constitution of the Corporate Social Responsibility Committee shall not be applicable and the functions of such Committee provided under this section shall, in such cases, be discharged by the Board of Directors of such company
  6. BUDGETARY ALLOCATION
    The Company shall spend in every financial year, in which CSR Rules and Act applies to it, at least 2% of the average net profit of the Company made during the three immediately preceding financial years. The board shall ensure that the administrative overheads shall not exceed five percent of total CSR expenditure of the company for the financial year.
  7. REPORTING
    At the end of each financial year, the CSR committee shall prepare a report in the prescribed form relating to the CSR program/ activities undertaken by the Company during the year and submit to the Board for its inclusion in the Board’s report.
  8. FAILURE TO SPENT CSR EXPENDITURE:
    If the company fails to spend such amount, the Board shall, in its report made under clause (o) of sub-section (3) of section 134, specify the reasons for not spending the amount [and, unless the unspent amount relates to any ongoing project referred to in sub-section (6), transfer such unspent amount to a Fund specified in Schedule VII, within a period of six months of the expiry of the financial year].
    If the unspent amount relates to any ongoing project then transfer such unspent amount within a period of thirty days from the end of the financial year to a special account to be opened by the company in that behalf for that financial year in any scheduled bank to be called the Unspent Corporate Social Responsibility Account, and such amount shall be spent by the company in pursuance of its obligation towards the Corporate Social Responsibility Policy within a period of three financial years from the date of such transfer, failing which, the company shall transfer the same to a Fund specified in Schedule VII, within a period of thirty days from the date of completion of the third financial year.
  9. AMENDMENTS TO THE POLICY
    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.

For, JEKSON VISION PRIVATE LIMITED

Sd/-
Bhavna Jitendra Shah
(Chairperson)
DIN: 01736129

Sd/-
Rishal Jitendra Shah
(Member)
DIN: 02083516

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