At Jacob Ballas, we aim to achieve our business objectives in a socially responsible manner. The Company has framed a Corporate Social Responsibility Policy ("CSR Policy") in conformity with the provisions of Section 135 of the Companies Act, 2013 (the Act) and rules made there under, adopted by the Board of Directors at its meeting held on February 15, 2017. The CSR Policy lays down the broad guidelines and principles for the Company's activities in the sphere of corporate social responsibility.
Jacob Ballas India CSR activities, amongst others, will include activities as listed in Schedule VII of the Act.
The CSR Committee shall comprise of three Directors of the Company, as may be specified or altered from time to time by the Board, in accordance with the provisions of Section 135 of the Act. The Role of the CSR Committee shall include:
- Formulating and recommending to the Board, a CSR policy indicating activities to be undertaken;
- Recommending the amount of expenditure for the CSR activities; and
- Monitoring the CSR policy from time to time.
The Board shall ensure that in each financial year the Company spends such amount for its CSR activities as recommended by the CSR Committee, in accordance with the provisions of the Act. Any surplus arising out of the CSR activities shall not form part of business profits of the Company.
The CSR Committee shall monitor the CSR policy and the programmes undertaken by the Company from time to time and make appropriate recommendations to the Board. The Committee shall ensure that the CSR programmes undertaken are in accordance with the applicable laws.
The Board's Report of the Company shall include an annual report on CSR containing the particulars prescribed under the Act and also hosted on the Company's website in the manner prescribed under the Act.
CSR POLICY AMENDMENT
The CSR Policy may be modified or revised by the Board of the Company based on the recommendations of the CSR Committee or in accordance with the statutory guidelines, as may be issued from time to time.