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CORPORATE SOCIAL
RESPONSIBILITY & SCON ! |
Philosophy |
Recognizing that
business enterprises are economic organs of society
and draw on societal resources, it is SCON’s belief
that a company's performance must be measured by its
Triple Bottom Line contribution to building
economic, social and environmental capital towards
enhancing societal sustainability.
SCON believes that in the strategic context of
business, enterprises possess, beyond mere financial
resources, the transformational capacity to create
game-changing development models by unleashing their
power of entrepreneurial vitality, innovation and
creativity. In line with this belief, SCON will
continue crafting unique models to generate
livelihoods and environmental capital. Such
Corporate Social Responsibility ("CSR") projects are
far more replicable, scalable and sustainable, with
a significant multiplier impact on sustainable
livelihood creation and environmental replenishment.
These initiatives are independent of the normal
conduct of SCON business. Programs, projects and
activities (collectively "CSR Programs") carried out
in this regard are the subject matter of this
Policy.
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Focused Geographic Spread
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SCON’s focus areas for
developmental activities will be in urban as well as
rural areas in the states in which it is located.
The company may also support initiatives in other
geographies, as approved by the CSR Committee of the
Board, from time to time.
While we will ensure that all communities benefit
from our CSR activities, we would focus on those
groups that are socially and economically
marginalized.
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CSR Focus Areas
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SCON’s CSR initiatives
will focus on five thrust areas – Education, Health,
Livelihoods, Rural& Urban infrastructure and Sports.
Besides, it will also undertake Interventions in the
areas of disaster relief, environment and ethnicity
etc. all aimed at improving the quality of life of
the communities.
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CSR Policy
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It is SCON’s policy:
1. To direct SCON’s CSR Programs, inter alia, towards achieving
one or more of the following
- Promoting
education
- Eradicating
extreme hunger and poverty
- Reducing child
mortality and improving maternal health
- Providing
preventive healthcare
- Providing
sanitation and drinking water
- Creating
livelihoods for people, especially those from
disadvantaged sections of society in rural and
urban India
- Supporting rural
development
- Promoting sports
- Ensuring
environmental sustainability
- Promoting gender
equality and empowering women
- Combating human
immunodeficiency virus, acquired immune
deficiency syndrome, malaria and other diseases
- Providing
Employment enhancing vocational skills
- Social business
projects
- Initiating
Measures for benefits of military, navy, air
force veterans and their dependents
- Providing
Contributions supports to technology incubators
institutions, centers
- Taking
initiatives in protection, promotions of
national heritages, arts culture
- Taking
initiative for entrepreneur developments
- Contribution to
the Prime Minister's National Relief Fund or any
other fund set up by the Central Government or
the State Governments for socio economic
development and relief and funds for the welfare
of the Scheduled Castes, the Scheduled Tribes,
other backward classes, minorities and women and
2. To develop
the required capability and self-reliance of
beneficiaries at the grass roots, especially of
women, in the belief that these are
prerequisites for social and economic
development;
3. To engage in affirmative action interventions
such as skill building and vocational training,
to enhance employability and generate
livelihoods for persons from disadvantaged
sections of society;
4. To pursue CSR Programs primarily in areas
that fall within the economic vicinity of the
Company's operations to enable close supervision
and ensure maximum development impact;
5. To carry out CSR Programs in relevant local
areas to fulfil commitments arising from
requests by government/regulatory authorities
and to earmark amounts of monies towards
"Enterprise Social Responsibility (ESR)"
activities and to spend such monies through ESR/CSR
Cells of such administrative bodies of the
government and/or directly by way of
developmental works in the local areas around
which the Company operates;
6. To provide equal opportunities to
beneficiaries of the Company's CSR Programs as
vendors or employees on merit;
7. To promote, undertake such CSR initiatives,
projects as per the guidelines issued by the
government from time to time.
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CSR Budget
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Section-135 of the
Companies Act, 2013 mandates Companies with:
- Turnover of Rs.
1000Crores or more; Or
- Net Worth of Rs.
500 Crores or more; Or
- Net Profit of Rs.
5Crores or more to undertake expenditure
The Board of Directors will ensure that the company
spends, in every financial year, at least 2% of the
average net profit (to be calculated in accordance
with the provision of section 198) of the company
made during the three immediately preceding
financial years, in pursuance of its Corporate
Social Responsibility policy.
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Implementation
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To implement the
Company's CSR Programs through Company personnel or
through external implementing agencies or through
Sh. Na. Charitable trust, Margtamhane, Ratnagiri and
other Trusts, Foundations and Section 8 companies
that may be established for the said purpose. In
such cases, the Company will specify the CSR
Programs which may be undertaken by those Trusts in
accordance with their Objects and administrative and
accounting processes laid down in the respective
Trust Deeds/ Memoranda and Articles of Association.
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Governance
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The CSR committee shall
consist of the following directors:
- Mr. Nilesh
Shankar Chavan- Chairman
- Mrs. Nandini
Nilesh Chavan
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Responsibilities of the CSR Committee
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- Formulating and
recommending to the board of directors the CSR
policy and indicating activities to be
undertaken
- Recommending the
amount of expenditure for the CSR activities
- Monitoring CSR
activities from time to time
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CSR Expenditure
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CSR Programs undertaken
in accordance with the approved CSR Plan. Moreover,
any surplus arising from any CSR Programs shall be
used for CSR. Accordingly, any income arising from
CSR Programs will be netted off from the CSR
expenditure and such net amount will be reported as
CSR expenditure. |
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