Corporate Social Responsibility
Introduction
Bhavik Enterprises Limited was incorporated on 15 September 2008 as a public limited company. The Company is engaged in the business of trading of polymers and other related products. BEL integrates corporate social responsibility with business objectives to make these initiatives an integral part of the company’s profitable growth. Over the years, the company has developed a thoughtful approach and attempts to address critical areas of impact to society at large.
Applicability
This policy has been formulated and recommended by the CSR Committee and adopted by the Board of Directors. The terms, rules and regulations mentioned in this policy are as per Section 135 of the Companies Act 2013 (referred to as the Act in this policy) on CSR and in accordance with the CSR rules (hereby referred to as the Rules) notified by the Ministry of Corporate Affairs, Government of India in 2014. The Policy shall apply to all CSR projects/programmes undertaken by the Company in India as per Schedule VII of the Act.
Vision
To empower the communities around our areas of operation towards development that is collaborative, progressive, inclusive and sustainable through optimal realisation of human potential and responsible utilisation of resources. The CSR vision of BEL is “Employability & Environment” or such other vision / objective as the CSR Committee may recommend as per Schedule VII of the Act. This policy shall be effective from 1 April 2014.
CSR Committee
1) The CSR Committee will consist of three or more directors of which, atleast one will be an independent director.
2) The CSR Committee shall meet as and when deemed necessary.
3) The CSR Committee may invite Executives, Advisors, representatives of Social Organizations, Auditors of the Company and such other person (s) as it may consider necessary to attend the meeting.
4) As per Section 135 of the Companies Act 2013, the reasons for under spending of the allocated CSR budget shall be specified in the Board’s Report. The surplus arising out of the CSR activities, if any, will not be considered as a part of the business profits of the company.
CSR Activities
The Company will constantly endeavor to identify focus areas in line with any one or more of the activities mentioned under Schedule VII of the Companies Act 2013 as detailed below. CSR Committee has identified the thrust area projects and shall be focusing its CSR initiatives and channelizing the resources on a sustained basis. The four focus areas where special Community Development programmes would be run are:
i. Promoting Preventive Health Care & Sanitation (SWAASTH YOJANA)
We shall undertake the abovementioned activity through awareness programmes, health check-ups, provision of medicine & treatment facilities, providing pre natal & post natal healthcare facilities, prevention of female foeticide through awareness creation, program for preventing diseases and building immunity.
ii. Availability of Safe Drinking Water (PYAU)
Lack of clean water is a major cause of illness and particularly affecting children’s health. We shall undertake provision of water tanks, water pumps, portable water treatment units, building free and safe water centres (pyau), rehabilitation of boreholes and drilling of new wells, deepening of existing wells, rehabilitation of urban water supply systems.
iii. Promoting Education (GYAAN PRAKASH)
To contribute to improving and facilitating the literacy levels including e-learning in various sections of the society, by providing support at every stage of a child’s educational cycle, conducting education programmes for children, women, elderly and differently able. To undertake non-formal educational programmes, supporting schools with infrastructure, improving educational facilities in general and supporting children for higher education.
iv. Local Area Development (KSHETRA VIKAS)
We are keen on undertaking the following activities:
– Plantation drives in schools, villages, our manufacturing units & offices / business premises and other areas in general;
– Protection of flora & fauna;
– Animal welfare and veterinary services;
– Technical support and Knowhow for improving farming and building capacities of small farmers
– Training in vocations pursued by women;
– Setting up homes for women & orphans and old-age homes & other facilities for senior citizens;
– Rural Development, and Slum area Development Projects;
– Promotion of Sports with special focus on training for rural sports, nationally recognised sports, Paralympics sport, Olympic sports;
– Welfare for differently disabled persons; and
– Contribution or funds provided to technology incubators located within academic institutions which are approved by the Central Government.
Modalities of Execution/Implementation
a) The Company’s CSR projects or programmes or activities will be identified, executed and implemented in accordance with the approved CSR policy.
b) The Company will strive to implement the aforesaid CSR activities on our own to the extent possible. However, we also recognize the need to work in partnership with other players also.
c) CSR Committee shall have full discretion to specify or modify the modalities of execution of CSR projects or programs and to determine implementation schedules.
d) The CSR activities shall be undertaken within India
Monitoring and Reporting process
The “CSR Committee” constituted by the Board of Directors shall be responsible for monitoring the CSR policy from time to time. The CSR Committee shall approve and recommend to the Board, the projects or programmes or activities to be undertaken, the expenditure to be incurred on the projects / programmes, the modalities for execution and implementation schedule.
The CSR Committee shall periodically monitor implementation of the CSR Policy and the projects, programmes and activities being undertaken as per CSR. The other implementing partners assigned with tasks under the CSR shall also submit their reports in such manner and periodicity as may be required by the CSR Committee.
Both qualitative and quantitative report of all CSR activities will be generated and compiled on a periodic basis and presented to “CSR Committee” from time to time.