The company CSR policy has been framed in accordance with Section 135 of the Companies Act 2013 and rules framed thereunder. The Primary purpose of the company CSR policy is to make meaningful and sustainable impact in the lives of economically and socially challenged communities by supporting initiatives aimed at creating conditions suitable for sustainable livelihood in these communities.
Riso’s CSR and welfare activities will be undertaken in India and focus on the following areas:
- Promoting education including special education, employment enhancing vocation skills especially among children & differently abled persons and livelihood enhancement projects;
- Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water;
- Contribution to the Prime Minister National Relief Fund or PM Care Fund or any other fund set-up by the Central Govt. for socio-economic develeopment, relief & welfare of various sections of society;
- 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.
However, the Company may, subject to the approval of the Board, undertake any CSR project specified in Schedule VII of the Companies Act, 2013 from time to time.
Corporate Social Responsibility Committee has not been constituted. However CSR Committee tasks including formulating CSR policy have been entrusted to the Board of Directors directly.
The Board shall endeavor to:
- Devise a robust monitoring mechanism to ensure that the CSR projects / programs are undertaken effectively in accordance with the approval granted and are fully in compliance with applicable laws, rules and regulations. Monitoring of CSR activities could be done through:
- Periodic third party assessment of key projects;
- Regular review by the Board;
- Ensure that appropriate disclosures are made to the shareholders in the company’s annual reports.
The Board of Directors shall consider CSR proposals directly or through any other eligible entity.
In order to be considered by the Board, such proposals must inter-alia contain details of projects / programs to be undertaken, proposed amount, timelines and a confirmation that such projects / programs are eligible under the Companies Act, 2013 and rules made thereunder.