Scribd Logo
Upload

Welcome to Scribd!

  • 268 views

    Corporate Social Responsibility Policy (CSR Policy)

    Uploaded by

    Ankit Singh
    This document outlines HMSI's Corporate Social Responsibility Policy. It describes HMSI's vision of being a company that contributes to society through inclusive growth and supporting causes like healthcare, education, environment and road safety. The policy complies with Indian law requiring companies to spend 2% of profits on CSR activities. It lists HMSI's focus areas for CSR programs including eradicating poverty, promoting education and gender equality, and environmental sustainability. The policy also addresses HMSI's CSR committee structure, geographic focus, implementation mechanisms, and reporting requirements.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Corporate Social Responsibility Policy (CSR Policy)

    Uploaded by

    Ankit Singh
    268 views7 pages
    This document outlines HMSI's Corporate Social Responsibility Policy. It describes HMSI's vision of being a company that contributes to society through inclusive growth and supporting causes like healthcare, education, environment and road safety. The policy complies with Indian law requiring companies to spend 2% of profits on CSR activities. It lists HMSI's focus areas for CSR programs including eradicating poverty, promoting education and gender equality, and environmental sustainability. The policy also addresses HMSI's CSR committee structure, geographic focus, implementation mechanisms, and reporting requirements.

    Original Description:

    policy for students to research on csr

    Original Title

    CSR Policy

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document outlines HMSI's Corporate Social Responsibility Policy. It describes HMSI's vision of being a company that contributes to society through inclusive growth and supporting causes like healthcare, education, environment and road safety. The policy complies with Indian law requiring companies to spend 2% of profits on CSR activities. It lists HMSI's focus areas for CSR programs including eradicating poverty, promoting education and gender equality, and environmental sustainability. The policy also addresses HMSI's CSR committee structure, geographic focus, implementation mechanisms, and reporting requirements.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    268 views7 pages

    Corporate Social Responsibility Policy (CSR Policy)

    Uploaded by

    Ankit Singh
    This document outlines HMSI's Corporate Social Responsibility Policy. It describes HMSI's vision of being a company that contributes to society through inclusive growth and supporting causes like healthcare, education, environment and road safety. The policy complies with Indian law requiring companies to spend 2% of profits on CSR activities. It lists HMSI's focus areas for CSR programs including eradicating poverty, promoting education and gender equality, and environmental sustainability. The policy also addresses HMSI's CSR committee structure, geographic focus, implementation mechanisms, and reporting requirements.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 7

    HMSI Corporate Social Responsibility Policy

    CORPORATE SOCIAL RESPONSIBILITY POLICY (CSR POLICY)


    1. Title and applicability
     The document describes the Corporate Social Responsibility Policy (“CSR
    policy”) of Honda Motorcycle and Scooter India Pvt. Ltd. (“HMSI” or “the
    company”). It includes HMSI’s vision, mission and other relevant attributes
    of Corporate Social Responsibility.
     The CSR policy shall be guided by HMSI’s corporate philosophy of respect for
    the individual and the society at large.
     The CSR policy has been formulated in accordance with Section 135 of the
    Companies Act 2013 and the CSR Rules 2014 and the relevant amendments
    / notifications / circulars.
     The CSR policy shall apply to all CSR programs of HMSI

    2. Vision and Mission

    HMSI is committed to build a sustainable business with strong social relevance


    and a commitment to inclusive growth and contribute to the society by
    supporting causes on various concerns including road safety, healthcare,
    environmental sustainability, promoting education, promoting sports and other
    rural development activities.

    In pursuance of our vision that HMSI desires to be a ‘Company which society


    wants to exist’, we are dedicated towards fulfilling the social objectives through
    various CSR activities. The Company shall make its endeavour to positively
    impact and influence the Society for its sustainable development.

    3. Purpose

    The Companies Act, 2013 has brought greater emphasis on CSR with rules that
    provide guidance on minimum CSR spend, focus areas, implementation
    mechanism and reporting to the shareholders of the company.

    HMSI CSR Policy has been designed keeping in view the company’s business
    vision, its CSR vision and long-term social objectives that the company wants to

    CSR Page 1
    HMSI Corporate Social Responsibility Policy

    achieve. HMSI CSR Policy has been created with the purpose to outline its CSR
    focus areas, review mechanism, execution process and reporting mechanism.

    4. Responsibility of the Board of Directors

    The responsibility of the Board of Directors shall be as under:

    a) To approve the CSR Policy & disclose the contents of such policy in its report
    and also place it on the Company’s website;
    b) Ensure that the activities proposed in the CSR Policy are undertaken;
    c) Ensure that the company spends, in every financial year, at least 2% of
    average net profits of the company made during the 3 immediately preceding
    financial years, as required under Section 135 of the Companies Act, 2013 &
    Rules made thereunder;
    d) If company fails to spend the sum as mentioned above, then the Board shall,
    in its Report specify the reasons for not spending the amount.

    5. CSR Committee

    5.1. Constitution of CSR Committee

    A Corporate Social Responsibility Committee (“the CSR Committee”) has been


    constituted by the Board of Directors to oversee the CSR agenda of the
    Company. The committee has been formed as per the requirements of Section
    135 of the Companies Act, 2013 and Companies (Corporate Social Responsibility
    Policy) Rules, 2014.

    Board of Directors shall be empowered to take decision for making or effecting


    changes in the constitution of the CSR Committee.

    The composition of CSR Committee shall be disclosed in the Board of Directors’


    Report.

    5.2. Responsibilities of the CSR Committee

    CSR Page 2
    HMSI Corporate Social Responsibility Policy

    a) To formulate & recommend to the Board of Directors, a CSR Policy indicating


    the activities to be undertaken as specified in Schedule VII of the Companies
    Act, 2013 and modify / amend the same as required;
    b) To review and approve annual budgets with respect to CSR programs;
    c) To develop and institutionalize a CSR reporting mechanism in light with
    Section 135, Rule 8 of the Companies Act 2013;
    d) To ensure that HMSI corporate website displays the approved CSR policy of
    the company
    e) To monitor the CSR Policy, Projects and Programs from time to time.

    5.3. Meetings of CSR Committee

    The CSR Committee shall meet at least once in six months. The meeting shall be
    held either at the registered office of the company or any other place, as may
    be decided by the members.

    Physical presence of a minimum of two members of the committee shall


    constitute the quorum.

    5.4. Notice of Meeting

    At least three days advance notice of every meeting, specifying the day, place
    and timing of Meeting and the general nature of the business to be transacted
    there at shall be given to the members. In urgency, a meeting may be convened
    by shorter notice.

    6. Areas of CSR Activities

    The Company is hereby devoted to direct its CSR resources, to a reasonable


    extent, for improving the quality of life of the people by focusing on the social
    causes, including but not limited to the following areas:

    i. Eradicating hunger, poverty and malnutrition, promoting health care


    including preventive health care and sanitation, including contribution to
    the Swacch Bharat Kosh set-up by the Central Government for the
    promotion of sanitation and making available safe drinking water;

    CSR Page 3
    HMSI Corporate Social Responsibility Policy

    ii. Promoting education, including special education and employment


    enhancing vocation skills especially among children, women, elderly, and
    the differently abled and livelihood enhancement projects;
    iii. Promoting gender equality, empowering women, setting up homes and
    hostels for women and orphans; setting up old age homes, day care
    centres and such other facilities for senior citizens and measures for
    reducing inequalities faced by socially and economically backward groups;
    iv. 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 Ganga;
    v. 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 arts and
    handicrafts;
    vi. Measures for the benefit of armed forces veterans, war widows and their
    dependents;
    vii. Training to promote rural sports, nationally recognized sports, Paralympic
    sports and Olympic sports;
    viii. Contribution to the Prime Minister's National Relief Fund or any other
    fund set up by the Central Government for socio-economic development
    and relief and welfare of the Scheduled Castes, the Scheduled Tribes, and
    other backward classes, minorities and women;
    ix. Contributions or funds provided to technology incubators located within
    academic institutions which are approved by the Central Government;
    x. Rural Development Projects; and
    xi. Slum area development
    xii. Activities related to promotion of road safety as suggested vide General
    Circular No. 21/2014 dated 18.06.2014 issued by Ministry of Corporate
    Affairs

    EXCLUSIONS:

    Following activities shall be excluded from the CSR expenditure of HMSI:

    CSR Page 4
    HMSI Corporate Social Responsibility Policy

    a) Activities which are exclusively for the benefit of employees of the company
    or their family members;
    b) Activities undertaken in pursuance of normal course of business of the
    Company;
    c) Direct or indirect contribution to political parties;
    d) Expenditure on item/s not in conformity with Schedule VII of the Companies
    Act 2013;
    e) Surplus arising out of CSR projects shall not form part of the business profits
    of Company instead the same will be further used for CSR purposes only.

    7. Geographies and beneficiaries

    7.1. Geographies

    HMSI will give preference to the local areas around its operations for spending
    the amount earmarked for CSR activities. HMSI’s operations are mainly
    concentrated in the following areas:

     State of Haryana
     State of Karnataka
     State of Rajasthan
     State of Gujarat
     HMSI may undertake CSR activities in any other area in India as may be
    decided, from time to time

    7.2. Beneficiaries

    The beneficiaries of HMSI’s CSR programs may be the following categories of


    people:

     Children / students
     Women
     Weaker sections of the society
     Others – society at large

    8. Implementation mechanism

    CSR Page 5
    HMSI Corporate Social Responsibility Policy

    The company may conduct / implement CSR programs by itself and/or through
    registered trusts, societies and / or section 8 (previously section 25) companies
    with an established track record of at least three years in carrying on activities
    in the related area/s or as suggested by Ministry of Corporate Affairs vide
    circulars/notifications.

    The company may collaborate or pool resources with other companies to


    undertake CSR activities and any expenditure incurred on such collaborative
    efforts would qualify for computing the CSR spending.

    The progress will be reported to the CSR Committee during the committee
    meetings. The progress on CSR programs undertaken by the Company will be
    reported in the Annual Report in the format prescribed by the CSR Rules 2014.

    Format for Annual Report


    The Annual Report
    (1) (2) (3) (4) (5) (6) (7) (8)
    Amount spent on the projects or
    Projects or programes programmes Amount spent:
    1. Local area or other Amout outlay Sub heads: Direct or
    2. Specify the state and district (budget) project 1. Direct expenditure on projects Cumulative through
    Sector in which the where projects or programs was or programme or programmes expenditure upto implementing
    Sr. No. CSR Project or activity identified project is covered undertaken wise 2. Overhead the reporting period agency
    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    Total

    9. Monitoring of CSR programs

    The HMSI CSR team shall be responsible for day to day management of CSR
    related activities of the company. The team shall periodically report to the CSR
    committee regarding the financial and programmatic progress of CSR projects.

    All projects undertaken by HMSI shall be monitored on a regular basis. On-site


    monitoring would also be undertaken at least once a year to ensure on-track
    implementation.

    The CSR team shall be empowered to appoint an external third party to monitor
    / review / audit the progress (financial and programmatic) of the CSR projects.

    CSR Page 6
    HMSI Corporate Social Responsibility Policy

    10. Effective Date

    The CSR Policy shall be effective from the date of its approval by the Board of
    Directors. This Policy document shall supersede the earlier CSR Policy dated 10th
    July 2014. Provided, however, that all the acts done in pursuance of the earlier
    CSR Policy shall stand ratified and covered under this policy.

    11. Amendments to the CSR Policy

    CSR Policy may be updated to align it with the changing requirement or changes
    in the legal and regulatory framework. Any revision in the Policy shall be
    approved by the Board of Directors.

    CSR POLICY APPROVED ON BEHALF OF BOARD OF DIRECTORS ON THIS 09TH DAY


    OF FEBRUARY 2017 AT GURGAON

    Sd/-

    Authorized Signatory

    CSR Page 7

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy