CORPORATE SOCIAL RESPONSIBILITYPhilosophy:
To have a Corporate Social Responsibility platform to undertake social benefitting activities as a responsible corporate citizen of India. We recognise that we must integrate our business values and operations to meet the expectations of our stakeholders. They include customers, employees, investors, suppliers, the community and the environment. Recognizing that business enterprises are economic organs of society and draw on societal resources, it is GLOBION's belief that contribution to building economic, social and environmental capital towards enhancing societal sustainability is the mutual benefit the society draws from the Company and the Company from the society .
In line with this belief, Globion proposes to draft apt models to encourage education and women empowerment, environmental concerns to address sustainability. These initiatives are independent of the normal conduct of GLOBION's business. Programmes, projects and activities (collectively "CSR Programmes") carried out in this regard are the subject matter of this Policy.
CSR Policy - It is GLOBION's policy:
1. To direct GLOBION's CSR Programmes, towards achieving one or more of the following
ii) providing preventive healthcare
iii)providing sanitation and drinking water
2. To pursue CSR Programmes primarily in areas that fall within the vicinity of the Company's operations to enable close supervision and ensure maximum development impact;
To implement the Company's CSR Programmes through Company personnel or through external implementing programs.
1. Every year, the CSR Committee will place for the Board's approval, a CSR Plan delineating the CSR Programmes to be carried out during the financial year and the specified budgets thereof. The Board will consider and approve the CSR Plan modification with modification (s) if any that may be deemed necessary.
2. The CSR Committee will assign the task of implementation of the CSR Plan within specified budgets and timeframes to such persons within the organsation or bodies as it may deem fit.
3. The assigned persons/bodies (“Implementation Group”) will carry out such CSR Programmes as determined and/or prescribed by the CSR Committee and report back to the Committee on the progress thereon at such frequency as the CSR Committee may direct.
4. The CSR Committee shall review the implementation of the CSR Programmes once a quarter and issue necessary directions from time to time to ensure orderly and efficient execution of the CSR Programmes in accordance with this Policy.
5. Once every six months the “Implementation Group” will provide a status update to the Board and/or CSR Committee on the progress of implementation of the approved CSR Programmes carried out during the six month period. It shall be the responsibility of the CSR Committee to review such reports.
6. At the end of every financial year, the CSR Committee will submit its report to the Board.
CSR expenditure will include all expenditure, direct and indirect, incurred by the Company on CSR Programmes undertaken in accordance with the approved CSR Plan.