Green Valley group (“GVG” or “the Company”) firmly believes in adopting the highest standards of organizational behavior and corporate values in order to consistently contribute to the Social, Economic and Environmental Development of the community in which it operates and creation of value for the nation.
GVG recognizes the community in which it operates as not just a stakeholder but the very purpose of its existence. GVG constantly endeavours to undertaking business in a socially, ethically and environmentally responsible manner.
CORPORATE SOCIAL RESPONSIBILITY POLICY
GVG through its GVG initiatives will strive to enhance value creation in the society and the community in which it operates so as to promote its integrated and sustainable development.
The Corporate Social Responsibility Policy (“GVG Policy”) adopted by the Company spells out Company’s its philosophy towards its social responsibilities ;ongoing commitment to contribute to the economic and social development of the society and lays down the guidelines, framework and mechanism relating to the implementation, monitoring, reporting, disclosure, evaluation and assessment of projects, programmes and activities forming part of Company’s CSR.
GVG’s CSR Policy is framed to comply with the provisions of Section 135 of the Companies Act, 2013 (“the Act”) and the Rules (both as defined hereinafter) and shall apply to all CSR projects or programs undertaken by the Company in India, in relation to one or more activities outlined in Schedule VII of the Act.
The Policy has been approved at the meeting of the Board of Directors held on December 01, 2014 and is effective from the said date.
The Policy, inter-alia, provides for the following:
Establishment of framework for compliance with the provisions of Regulations to dedicate a percentage of the Company’s profits for CSR activities
Implementation of procedures for carrying out the CSR initiatives and reporting thereof
Creation of opportunities for active participation in the CSR activities.
Scope and Objective CSR Policy
“Act” means the Companies Act, 2013 (18 of 2013).
“Board” means the Board of Directors of the Company.
“CSR Co-ordinator” means the senior executive of the Company/holding/subsidiary company, nominated as such by Chairperson in writing who shall also be the ex-officio Secretary to the CSR Committee.
“CSR Committee” means the committee of the Board of Directors constituted pursuant to Section 135(1) of the Act and the Rules.
“Rules” means the Companies (Corporate Social Responsibility Policy) Rules, 2014.
The CSR Committee shall consist of 3 (three) directors, out of which at least 1 (one) director shall be independent director. The CSR Committee shall meet at least twice in a financial year and the quorum for CSR Committee meetings shall be 2 (two) members. Such other meetings of the Committee can be convened as and when deemed appropriate.
The Committee members may attend the meeting physically or via such audio-visual means as permitted under the Act. The CSR Committee may call such employees(s), senior official(s) and / or other concerned persons, as it deems fit.
In terms of section 135 of the Companies Act, 2013 and the Rules made thereunder, the Board of Directors of the Company at its meeting held on November 10, 2014 has constituted the CSR Committee comprising of:
SL. No.NameDesignation in Committee
Mr. Devesh kumar(director)
Mr. Akash singh (director)
The CSR Committee to, inter alia, carry out the following functions;
To formulate and recommend to the Board, a Corporate Social Responsibility Policy which shall indicate the activities to be undertaken by the Company as specified in Schedule VII of the Companies Act, 2013 and the rules made thereunder.
To recommend the amount of expenditure to be incurred on the CSR activities.
To monitor the implementation of framework of CSR Policy.
To carry out any other function as mandated by the Board from time to time and / or enforced by any statutory notification, amendment or modification, as may be applicable, necessary or appropriate for performance of its duties.
Functions of CSR Committee
CSR programmes or projects to be undertaken by the Company in terms of the Policy (either new or on-going), shall relate to one or more activities listed in Schedule VII of the Act, as amended from time to time.
CSR expenditure shall include all expenditure including contribution to corpus, for projects or programmes relating to CSR activities approved by the Board on the recommendations of the CSR Committee, but shall not include any expenditure on its Properties in Lucknow on any activity which does not fall within the purview of Schedule VII of the Act.
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