Sri Krishna Pharmaceuticals Limited believes in value creation through Improving the conditions of environment and social sustainability. We are committed to improve the quality of lives of the communities in which we operate. The Company believes in “looking beyond business” and not just profits, thereby strives to create a positive impact on the communities it serves and on the environment. We understand that there is a need to strike a balance between the overall objectives of achieving corporate excellence vis-à-vis the company’s responsibilities towards the community.
To strive for excellence in promoting sustainable development in order to enable value creation in the quality of life of surrounding communities through CSR initiatives based on ethical, transparent, accountable and sound governance practices.
The terms defined in this CSR Policy shall have the meanings herein specified and terms not defined shall have the meanings as defined in the Companies Act, 2013 and Companies (Corporate Social Responsibility) Rules, 2014 including any statutory modifications or re-enhancements thereof.
“Act” means the Companies Act, 2013 including any statutory modification or re-enactment thereof.
“Associate Company” means a Company within the meaning of section 2(6) of the Companies Act, 2013.
“Board” means the Board of Directors of the Company.
“Board’s Report” shall mean report of the Board of Directors prepared in accordance with section 134(3) of the Companies Act, 2013.
“Company” means Sri Krishna Pharmaceuticals Limited, a Company incorporated under the Companies Act, 1956 .
“CSR” means Corporate Social Responsibility.
“CSR activities” means the activities or projects or programs as recommended by the CSR Committee and approved by the Board, undertaken by the Company from time to time in any one or more of the areas falling under the Schedule VI to the Companies Act, 2013.
“CSR Committee” means the Committee of the Board constituted under section 135 of the Act for the purpose of administration of CSR activities, supervising the adherence of this CSR Policy and the matter incidental thereto.
“CSR Policy” means the Corporate Social Responsibility Policy as set out herein and as amended or modified from time to time.
“CSR Rules” means Companies (Corporate Social Responsibility) Rules, 2014.
“Independent Director” means a non-executive director of the Company within the meaning of section 2(47) of the Companies Act, 2013.
“Holding Company” means a Company within the meaning of section 2(46) of the Companies Act, 2013.
“Net profit” means the net profit of the Company as per its financial statement prepared in accordance with the applicable provisions of the Act but shall not include the following namely –
Any profit arising from any overseas branch or branches of the Company, whether operated as a separate Company or otherwise; and
Any dividend received from other Companies in India, which are covered under and complying with the provisions of section 135 of the Act.
“Subsidiary Company” means a means a Company within the meaning of section 2(87) of the Companies Act, 2013.
A CSR Committee as nominated by Board of Directors is responsible for:
6.1 Quorum required for the meeting of the Committee shall be at least two Directors.
The scope of the CSR activities of the company will cover the following areas but not limited to the same and may extend to other specific projects/programs as permitted under the law from time to time. These activities can be conducted directly or company would support organizations, which conduct any of these activities.
|Sl. No.||Area||Activities/ Initiatives/ Programme|
|1(a)||Eradicating hunger, poverty and malnutrition.||Livelihood programs in both Non- Farm and Farm sector, Nutrition centres for Antenatal and Post-natal women for eradicating malnutrition. Annadanam programs organized by charity organizations/ Institutions.|
|1(b)||Promoting health care including preventive health care and sanitation.||Mobile Health Clinics, Health Camps, Rural Sanitation Projects, Special medical camps, Patient counselling and medicine support to cancer patients. Supporting the non-profit organizations conducting such activities.|
|1 (c)||Providing safe drinking water.||Community based Safe Drinking water projects and water storage tanks, Drinking water pipelines in rural communities.|
|Promoting education, including special education, and enhancing vocation skills especially amongchildren, women, elderly, and the differently abled and livelihood enhancement project.||Supporting Preschool education, primary and secondary education, Creating school infrastructure, repair and renovation. Vocational training and special education institutes, providing financial assistance for needy and meritorious students, Career Counselling and Guidance programs.|
|Ensuring environmentalsustainability, ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources and maintaining quality of soil, air and water.||Supporting farmers in improving the quantity and quality of water in their field. Also supporting farmers in improving the soil health and assisting in other environment related farming activities, promoting renewable energy, Maintaining quality of soil, air and water and Conservation of natural resources.|
|4||Measures for the benefit of armed forces veterans, war windows and their dependents.||Activities/programs for benefit of the Ex- service personnel and their families of armed forces depending on need and necessity.|
|5||Contribution/Financial Assistance.||Contribution to prime ministers National Relief fund or any other fund set up by the central / state Government for socioeconomic development and relief and welfare of the scheduled castes, the schedules tribes, other backward classes, minorities and women.|
|6||Rural development projects.||Rural Infrastructure projects and agriculture development programs and projects.|
8.2 The CSR activities (either new or ongoing) shall be undertaken by the Company in accordance with this policy and shall exclude activities undertaken in pursuance of its normal course of business.
8.3 The company has specified the project or programs to be undertaken through these entities, the modalities of utilization of funds on such projects and programs and the monitoring and reporting mechanism.
The Board may also decide to collaborate with other companies for undertaking the CSR activities in such a manner that the CSR Committees of respective companies are in a position to report separately on such CSR activities in accordance with CSR Rules.
As per the provisions of Companies Act, 2013, in every financial year the Board shall ensure that the Company spends, at least 2% of its average net profits during the three immediately preceding financial years.
CSR Committee shall recommend the amount of expenditure project wise to be incurred annually to the Board for its consideration and approval.
CSR expenditure shall include all expenditure including contribution to corpus, for projects or programs relating to CSR activities approved by the Board on the recommendation of its CSR Committee, but does not include any expenditure on an item not in conformity or not in line with activities which fall within the purview of Schedule VII of the Act.
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) of section 135, transfer such unspent amount to a Fund specified in Schedule VII, within a period of six months of the expiry of the financial year.
Provided also that if the company spends an amount in excess of the requirements provided under this sub-section, such company may carry forward such excess amount to set off against the requirement to spend under this sub-section for 3 succeeding financial years and in such manner, as may be prescribed.
The CSR Committee of the Board may decide any particular areas of thrust for incurring the expenditure on CSR activity.
The approved CSR policy shall be the Boards direction towards the implementation of the CSR policy.
|Version No.||Effective date||Summary /History of changes|
|Revision No.:001||31-07-2014||New Policy|
|Revision No.:002||10-05-2021||Revised CSR policy approved by the Board|