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CORPORATE SOCIAL RESPONSIBILITY (CSR) POLICY
1. CSR PHILOSOPHY AND BACKGROUND

Sobha Projects & Trade Private Limited (SPTL) has framed the Corporate Social Responsibility policy in accordance with the provisions of Section 135 of the Companies Act, 2013 read with Corporate Social Responsibility (CSR) Rules, 2014 together with Schedule VII of the Companies Act, 2013. Corporate Social Responsibility (CSR) can be defined as the commitment of a company to set apart resources to support activities aimed at enhancing socio–economic development. Typically, it constitutes an effort to improve living conditions of the local area in which the Company operates and to benefit society at large. The idea is to expend resources in order to create a positive impact in the community and on society, without seeking any commensurate monetary benefit. CSR has been at the core of SPTL’s vision and mission since inception and forms an integral part of its Activities. Over the years, the company has engaged in several initiatives with the objective of social and economic development of the community.
SPTL is fully committed to proactively support inclusive and environmentally sustainable growth in India. It genuinely believes that the benefits of development should reach a larger number of people, especially the weaker sections of society, to whom greater access to opportunities is the surest way to enable all-round socio-economic progress. Likewise, it is committed to environmentally sustainable development in all areas, given the challenges of climate change that call for measures for mitigation and adaptation in a number of areas to preserve the environment for future generations. Finally, SPTL fully supports the principle that Companies should fulfil their responsibilities to society by engaging with the communities that support them, in their quest for growth and profitability, by engaging in socio economic initiatives in a meaningful way, given that development is the responsibility of all. The CSR Policy of the Company sets out the framework which will guide the Company’s CSR activities. The Policy also sets out the rules that need to be adhered to while designing and implementing CSR activities.

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2. CSR COMMITTEE

The Company shall constitute a Corporate Social Responsibility Committee (CSR Committee) in accordance with the provisions of Section 135 read with Companies (Corporate Social Responsibility) Rules, 2014 together with Schedule VII of the Companies Act, 2013.

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A. Functions of CSR Committee:

  • Formulate and recommend to the Board for approval the CSR Policy and any amendments thereto;

  • Advise the Board on the activities to be undertaken by the company as specified in the Act and this CSR policy;

  • Review and recommend the annual CSR plan and the concomitant budgetary outlays to the Board for approval;

  • Monitor the CSR activities and compliance with the CSR Policy at regular intervals;

  • Review and implement, as needed, any other matter related to CSR initiatives.​​

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B. The Board of Directors responsibility towards Corporate Social Responsibility Policy shall:

  • Approve the Corporate Social Responsibility Policy and any amendments thereto based on the recommendations of the Corporate Social Responsibility Committee.

  • Approve the CSR activities and Annual Action Plan proposed by the CSR Committee based on the recommendations of the Implementing Agency (Sri Kurumba Educational and Charitable Trust).

  • Review of utilization of disbursed funds.

  • Review of Impact Assessment Reports if any.

  • Monitoring of ongoing projects, if any.

  • Any other approval / review required as per the Act.​​

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3. SCOPE OF CSR ACTIVITIES

3.1 The Board of Directors upon the recommendation of the CSR Committee have identified the following areas listed in Schedule VII of the Companies Act, 2013 for carrying out its CSR activities (Hereinafter referred to as ‘Identified Areas’):

  • Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation including contribution to the Swatch Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water;

  • Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects;

  • Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centers and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups;

  • Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, 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 Gang

  • 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 art and handicrafts;

  • Measures for the benefit of armed forces veterans, war widows and their dependents, [Central Armed Police Forces (CAPF) and Central Para Military Forces (CPMF)veterans, and their dependents including widows];

  • Training to promote rural sports, nationally recognized sports, paralympic sports and olympic sports;

  • Contribution to the prime minister's national relief fund or Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) or any other fund set up by the central govt. for socio economic development and relief and welfare of the schedule caste, tribes, other backward classes, minorities and women;

  • Contribution to incubators or research and development projects in the field of science, technology, engineering and medicine, funded by the Central Government or State Government or Public Sector Undertaking or any agency of the Central Government or State Government;

  • Contributions to public funded Universities; Indian Institute of Technology (IITs); National Laboratories and autonomous bodies established under Department of Atomic Energy(DAE); Department of Biotechnology (DBT); Department of Science and Technology (DST); Department of Pharmaceuticals; Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH); Ministry of Electronics and Information Technology and other bodies, namely Defense Research and Development Organisation (DRDO); Indian Council of Agricultural Research (ICAR); Indian Council of Medical Research (ICMR) and Council of Scientific and Industrial Research (CSIR), engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs).

  • Rural development projects.

  • Slum area development.

  • Disaster management, including relief, rehabilitation and reconstruction activities.

  • Such other areas as may be included in Schedule VII of the Companies Act, 2013 from time to time.

3.2 The Projects / Programmes in the aforementioned Identified Areas would be of a continual nature requiring long-term commitment from the Company for which fixed implementation schedules cannot be specified.

3.3 The Projects / Programmes may be undertaken by the Implementation Agency or the Company directly provided that such projects / programmes are in line with the activities enumerated in Schedule VII of the Companies Act, 2013.

4. COVERAGE OF CSR ACTIVITIES

The Company may carry out its CSR activities at such locations in India as it may deem necessary.

5. IMPLEMENTATION AGENCY

5.1 The CSR activities of the Company may be undertaken directly by the Company or through such agency(ies) as the Company may deem fit, provided that such agency(ies) meets the eligibility criteria laid down under the applicable laws.

5.2 The time period over which a particular programme or project will be executed will depend on the nature of the activity, its extent and objective sought to be achieved by the programme or project.

6. CSR BUDGET

6.1 For undertaking the CSR activities, the Company will strive to spend in each financial year a minimum of 2% of the average net profits of the previous three immediately preceding financial years.

6.2 The surplus, if any arising out of the CSR projects or programs or activities shall not form part of the business profits of the Company.

7. MONITORING MECHANISM

7.1. The CSR Committee shall ensure a transparent monitoring mechanism for all CSR Activities.

7.2. The CSR Committee shall approve the CSR Plan in the first quarter meeting of the year or the last quarter meeting of the previous year, based on feasibility.

7.3. The CSR Committee shall review the progress of CSR Activities at least once in a year.

7.4. The CSR Committee shall be responsible for monitoring expenses on CSR Activities with respect to the Plan approved and submission of the same to the CSR Committee and the Board.

7.5. An annual review of the CSR Activities shall be undertaken by the Board.

8. IMPACT ASSESMENT

In case, the Company has average CSR obligation of ₹ 10 crore or more in pursuance of Section 135(5) of the Act, in the three immediately preceding financial years, it shall undertake impact assessment, through an independent agency, of its CSR projects having outlays of ₹ 1 crore or more, and which have been completed not less than one year before undertaking the impact study.
The impact assessment reports shall be placed before the Board and shall be annexed to the annual report on CSR.
In order to undertake impact assessment, the Company may incur an amount up to 2% of the total CSR expenditure for that financial year or such amount as may be prescribed by the Government from time to time, whichever is Higher and the same shall be considered as CSR expenditure for that financial year.

9. DISCLOSURES

The CSR Committee shall prepare an annual report on CSR, in the format prescribed under the Act and such report shall be included in the Board’s report annexed to the financial statements. The report shall be signed by the Chairperson of the CSR Committee, Chief Executive Officer/ Managing Director/ Director of the Company. The Company shall host the contents of the CSR Policy on its website in such manner as may be prescribed.

10. REVIEW

This policy will be reviewed periodically by the Board/ CSR Committee as may be deemed necessary and to comply with any regulatory amendments or statutory modifications and subject to the necessary approvals of the Board of Directors in cases of material changes to the Policy.

COMPOSITION  OF CSR COMMITTEES
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