(Gujarat Tea Processors and Packers Limited)
Corporate Social Responsibility (CSR) has been deeply rooted in the Company’s business culture since inception. The Company is committed to conduct its business operations in an environmental friendly and socially responsible manner. Through its various CSR initiatives, it has been the Company’s constant endeavour to impact the lives of underprivileged people of the society and the environmental sustainability.
Shree Vasant Narayan Desai Multipurpose Charitable Trust, set up in memory of the Wagh Bakri Tea Group’s founder Shri Narandas Desai and Vasantba, also generously donates to the downtrodden people in the society for various causes since past four decades. In 2001, when a devastating earthquake shook the State of Gujarat, the group worked non-stop to help the affected people here. It has also donated generously for polio eradication to the Sevani Suvas Polio Foundation. The Group ascribe much importance to Education and felicitates outstanding students every year from across the Gujarat.
The Company’s CSR role has emerged from time to time in different forms while working for the social cause. The Company’s CSR projects are aligned to benefit the needy and underprivileged people of the Society so also to contribute to Environmental, Social and Economic sustainability. The Company has undertaken its social activities and projects in the fields of Women Empowerment, Education, Health Care and Environmental sustainability with the help of eminent implementing agencies, which excel in their own fields of social work.
Keeping in view the statutory requirements of the Companies Act, 2013 towards Corporate Social Responsibility (CSR), the Company has formed a Corporate Social Responsibility Committee consisting of its Directors viz., Shri Piyushkumar O. Desai (Chairman), Shri Pankajkumar R. Desai (Vice Chairman), Shri Raseshbhai R. Desai (Managing Director) and Shri Bhushan Punani (Independent Director). Shri Piyushkumar O. Desai is the Chairman of CSR Committee. All the members of CSR committee have rich and extensive experience in carrying out CSR activities and are directly and indirectly associated with various charitable and social activities too. The details of the Company’s various CSR projects undertaken and implemented in the fields of Education Promotion, Women Empowerment, Health Care and Environmental, Social & Economic sustainability are provided in sections given herein below:
The Board of Directors (the “Board”) of Gujarat Tea Processors & Packers Ltd., (the “Company”) has adopted the following policy and procedures with regard to Corporate Social Responsibility. The Board may review and amend this policy from time to time subject to the recommendations of Corporate Social Responsibility Committee.
The Company’s Corporate Social Responsibility (CSR) policy is framed in accordance with the notification issued by the Ministry of Corporate Affairs dated 27th February 2014 under Section 135 of the Companies Act 2013 (“the Act”).
The Company’s CSR vision is governed by trust, fairness and care and shall be based on the below keystones:
CSR committee of the Company comprises of four members; of which one is an Independent Director. The present composition of the CSR committee consists of the following members of the Board.
|Sr. No.||Name of Director||Designation|
|1||Shri Piyushkumar O. Desai||Chairman|
|2||Shri Pankajkumar R. Desai||*Vice Chairman & Managing Director|
|3||Shri Raseshkumar R. Desai||Managing Director|
|4||Shri Bhushan Punani||Independent Director|
Shri Piyushkumar O. Desai is the Chairman of the CSR Committee. All the members of CSR committee have rich and varied experience and are directly or indirectly involved in CSR activities at different levels.
CSR committee formed by the Company shall work in co-ordination and in accordance with directions given by the Board from time to time.
The Company proposes to implement CSR Programs through Company personnel, contribution to any trust/fund/association focusing on CSR activities or through external implementing agencies. The Company will specify the CSR Programs which may be undertaken by those agencies in accordance with CSR policy of the Company and governing laws from time to time.
The monitoring and review mechanism shall be followed for the CSR initiatives, which shall ensure a top down review and delivery. Regular review of amount spent on each activity and achievements against milestones and objectives by the CSR Committee to ensure a transparent monitoring process.
The management shall in consultation and through the supervision of the CSR Committee consider projects with detailed programmes to be undertaken, proposed amount, timeline and a conformation that such projects are eligible under the Companies Act, 2013 and the rules made thereunder from time to time.
The Company will ensure that every program has:
The CSR Committee shall be responsible for overseeing the planning, coordination and implementation of CSR activities and compliance of the same shall be reported to board and the same shall be reported to stakeholders through the Company’s Annual Report.
CSR expenditure will include all expenditure as may be permitted under the applicable laws, including contribution to corpus for CSR Programs 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 as permitted under Schedule VII of the Act.
The Board’s Report of the Company shall include an annual report on CSR containing particulars specified in the annexure to the Companies (Corporate Social Responsibility Policy) Rules, 2014 pertaining to a financial year commencing from April 1, 2014.
The contents of the approved CSR Policy and any amendment thereto shall be disclosed in the Board’s Report and displayed on the Company’s website.
The Company is committed to continuously reviewing and updating policies and procedures related to CSR so that they are in conformity as legislative changes & amendments in Companies Act, 2013 from time to time.
FOR AND ON BEHALF OF BOARD OF DIRECTORS
Piyushkumar O. Desai