The Main objective of CSR Policy is to lay down guidelines for Corporate Social Responsibility Activities of Microworld Software Services Private Limited (MSSPL). The policy is formulated in compliance with the requirements of the Companies Act, 2013 and rules made thereunder.
MSSPL, on a voluntary basis, already has a history of over 7 years of contribution towards welfare of society. In this process, it served weaker sections, destitute etc. for the benefit of society at large.
Now, MSSPL will do its best to follow the requirements of new companies Act, on CSR obligations in letter and spirit.
- The MSSPL Board of Directors has constituted a Corporate Social Responsibility Committee (CSR Committee or the Committee) with all its three directors, including one non-executive director.
- The Committee shall identify programmes/projects in which the CSR activities can be undertaken and recommend to the Board from time to time.
- The programmes/ projects can be undertaken directly through MSSPL or through Trust/ NGO who is having a track record of at least 3 years.
- The committee may invite such outside expert / consultant or any other person as it may deem fit for the purpose of CSR activities.
- CSR activities may also be undertaken in collaboration with other companies.
- The committee shall recommend to the Board, at the beginning of the Financial year or as early thereafter, the amount to be spent on CSR activities for that Financial year.
- The committee may also recommend allocation of certain portion of the CSR spend for some identified activities / projects
- The programmes/projects which benefit only to the employees of the company and their families shall not be considered for CSR activities.
The activities to be undertaken by the company as CSR activities shall be projects/programmes relating to the activities/subjects specified enumerated in the schedule VII of the Companies Act, 2013 or any amendment thereto or modification thereof.
The Committee shall from time to time decide/recommend to the Board, on CSR activities to be undertaken, the geographical area covered, agencies or trust or NGO’s with which the projects/activities are to be undertaken, amount to be spent on various projects whether on-going or fresh.
While deciding on the CSR activities, priority shall be given to the needs and requirement of communities or area in the vicinity of the manufacturing facilities of the Company.
- The committee shall monitor the above CSR projects, programmes and implementation and execution of the same from time to time and report the same to the MSSPL Board of Directors on a periodical basis.
- The committee shall on completion of every Financial Year, submit to the MSSPL Board details of the CSR spent during the Financial Year and reasons for the actual spent being less than the limits prescribed by the law, if any.
- The report on CSR shall form part of Directors Report of the Company.
- The committee shall recommend changes/editions to be carried out in the policy to the board from time to time.
- The activities undertaken by the Company in pursuance of its normal coverage of business shall not be considered as CSR activities.
- The surplus arising out of the CSR projects shall not form part of the business profits of the Company.