CSR POLICY 

Introduction

Objective & Scope

Our responsibilities

CSR mainstay

CSR Activities

Exclusion from CSR

CSR Committee

CSR Spend/Sources of Funding

Implementation

Monitoring & Reporting

Failure to spend the CSR Money

Reports

Publication of CSR policy & programs

Policy review & future amendment

Disclosures

 

 

CSR POLICY

1. INTRODUCTION:

At JWC Logistics Park Private Limited, the Corporate Social Responsibility (CSR) has been an integral part of the way we have been doing our business since inception. For more than 10 years, the Company's CSR initiatives has played pivotal role in improving the lives of the communities and society at large and in & around our operations with an objective to energize, involve and enable them to realize their potential. This has also enabled us to fulfill our commitment to be a socially responsible corporate citizen.

PREAMBLE AND PHILOSOPHY:

(a) JWC Logistics Park Private Limited (the "Company") is committed to conducting its business in socially, environmentally and ethically responsible manner and contributes to the society and environment in which it operates, to be able to contribute to social welfare and directly or indirectly, financially assist people at large to improve their life or condition.

(b)Section 135 of the Companies Act, 2013 ("Act") read with the rules made there under, inter alia, requires the Board of Directors of the company to constitute Corporate Social Responsibility Committee ("CSR Committee") to formulate c.

(c) Corporate Social Responsibility Policy of the Company, the Board of directors to adopt this policy and ensure that the Company spends in every financial year at least 2% of the average net profit [as calculated in the manner described in the said Section 135 and the Companies (Corporate Social Responsibility Policy) Rules, 2014 ("Rules")] in pursuance of the Corporate Social Responsibility Policy of the company, and the Board of directors to include in the Board's Report an annual report on CSR containing prescribed particulars.

(d) This Corporate Social Responsibility Policy ("CSR Policy") has been approved by the Board of Directors of the Company at the meeting held on August 28, 2014 based on recommendation of the CSR Committee constituted by the Board of the Company on july 28,2014 in compliance with Section 135 of the Act.

(e) The CSR Policy may be amended as required by the Board.

2.Objective:

The main objective of JWC's CSR policy is

➣To lay down guidelines to make CSR a key business process for sustainable development of the society.

➣To directly/indirectly undertake projects/programs which will enhance the quality of life and economic well-being of the communities in and around our plant and society at large.

➣To generate goodwill and recognition among all stake holders of the Company.

3. Our responsibilities:

A) Towards our communities.

We will involve communities surrounding our operations to bring about a positive change in their lives through holistic, sustainable and integrated development.

B) Towards our customers.

We will build gainful partnerships with the customers to understand their needs and provide right product and service solutions. We will adopt and actively encourage the best and fair business practices and shall endeavor to build solid bonds with them.

C) Towards our Business Partners.

We will support our suppliers to cultivate ethical and fair business practices and give preference over other to those who demonstrate this.

D) As a Corporate Citizen.

We reaffirm our commitment to conduct our business with environmental accountability. We will endeavor to adopt environment-friendly technologies and energy efficiency in our operations while continuously monitoring and reducing emissions.

E) Responsibilities toward our Employees.

We will foster a work culture with high ethical principles and standards and encourage our employees to perform with total integrity, commitment and ownership. We will do all we can to support their professional growth and recognize high achievers.

We recognize that our employees and contractors deserve to work in safe and healthy work environment and will make it our responsibility to ensure zero harm to people

4. CSR mainstay:

CSR activities at JWC shall be carried out through JWC Logistics Park Private Limited i.e. the Company itself

1. Collaboration with other Companies undertaking projects/programs in CSR activities

2. Contribution / donation made to such other Organization / Institutions as may be permitted under the applicable laws from time to time

3. Directly by the Company for fulfilling its responsibilities towards various stakeholders

4. Uplifting the community and the village around the Company by participating in the village development program i.e. for development of school, sport activity e.t.c

5. CSR Activities:

The scope of the CSR activities of the Company will cover the following areas but not limited to the same and may extend to other specific projects/ programs as permitted under the law from time to time

Schedule VII to the Act specifies the activities which may be undertaken by companies as a part of its Corporate Social Responsibility policy. However, the Company plans to focus on the following activities/projects

   (I)   Education

Education is a unique present investment for future. JWC earmarks considerable portion of CSR budget for education in Education, our endeavor is to sponsor schools run by non-profit Charitable Organization founded with a mission of reaching out to the underprivileged and needy for

    giving free education, shelter and healthcare for under privileged children;

    support for education, for those who are in need;

    support elder people, who are left alone for having enjoyable life; and

    Building schools for under privileged children & victims of natural calamities.

   (II)   Health

      In Health care our endeavour is

      to conduct eye check up /health check up camps to the under privileged children;

      spread the awareness of eye donation; and

       to conduct blood donation camps.

To aid the development of health programmes by donating for Hospitals or part of its operation theatre, words, toilets e.t.c.

6. Exclusion from CSR:

    The following activity shall not form part of the CSR activities of the Company:-

1. The activities undertaken in pursuance of normal course of business of a Company

2. CSR projects/programs or activities that benefit only the employees of the Company and their families

3. Any contribution directly/indirectly to political party or any funds directed towards political parties or political causes.

4. Any CSR projects/programs or activities undertaken outside India.

7. CSR Committee:

CSR Committee shall be formed as per the applicable laws and the committee shall be responsible for the implementation/monitoring and review of this policy and various projects/activities undertaken under the policy. The CSR Committee shall submit periodical reports to the board of directors.

CSR governance structure will be headed by the Board Level CSR committee that will be ultimately responsible for the CSR projects undertaken. The committee will report to our Board of directors and shall consists of

Members

Mr. Lalit C Jobanputra (Chairman)

Ms. Kruti L Jobanputra

Mr. Raaj L Jobanputra

Company Secretary to the Company shall act as Secretary to the CSR Committee

Roles and Responsibilities

    •Formulate and update CSR Policy, which will be approved by the Board of the Company

    •Suggest areas of intervention to the Board of Company

    •Approve projects that are in line with the CSR policy

    •Put monitoring mechanisms in place to track the progress of each project

    •Recommend the CSR expenditure to the Board of the Company who will approve it

    •To report to the Board from time to time the amount spent on CSR and status of CSR activities

    •Meet atleast twice a year to review the progress made

    •To carry out such requirement as mandated under the Act and the Rules from time to time.

8. CSR Spend/Sources of Funding:

The committee shall endeavor to spend at least 2% of the average net profit during the preceding 3 financial years on CSR activities as enumerated above. The allocation of the fund shall be made as follows:

    1)  By the Company - such amount as may be sanctioned by the Board of directors based on their annual budget. The amount sanctioned by the Board of JWC will have to be utilized for the projects/programs as specified by the CSR committees of JWC. The unspent amount, if any, at the close of the Financial year shall be retained by the Company and shall be spent only on specified projects/programs.

    2)  Others as decided by the CSR Committee based on the evaluation of specific project/activities.

Any surplus arising out of the contribution made for CSR Activities shall not form part of the business profit of the Company and redeployed for such activities

9. Implementation:

Project /programs covered under CSR activities shall be implemented by

(a) By the Company

(b) Any other institutes, NGOs, Government, Semi-government, autonomous bodies, trusts etc. However, any such projects/ program to be undertaken through these entities shall have an established track record of 3 years of undertaking such projects/programs

10. Monitoring & Reporting:

The CSR Committee will be responsible for the monitoring CSR activities and report to the Board from time to time. The CSR Committee has the powers to

(1) Seek monitoring and implementation report from the Organizations receiving funds

(2) Delegate a designated company official to co-ordinate with the Organization receiving funds to inspect the activities undertaken and ensure information in a timely manner

The following processes will be followed :

(a) Activities and Budget

The activities and budgets for CSR will be presented in detail to the Committee for the following.

➣Board of directors.

Additionally, the Committee may empower the Chief Financial Officer to spend such amount as they think appropriate for some other strategic CSR contingencies that may arise during any financial year. The amount spent as above shall be put up for ratification of the Committee at its next meeting and shall report to the Board accordingly.

(b) Continuous Monitoring

➣The Committee Members will receive in a prescribed format, a quarterly report of CSR spend;

➣A presentation on the progress of the CSR projects / activities will be made to the Committee by the CSR Executives at the Committee meetings held from time to time.

➣An annual presentation will be made to the Committee which will also includes the details of the projects / activities planned for the next year and its respective budget

The Board of directors of JWC shall review the implementation of CSR every six months.

11. Failure to spend the CSR Money:

In case the Company fails to spend the above targeted amount in that particular financial year, the Committee shall submit a report in writing to the Board of directors specifying the reasons for not spending the amount which in turn shall be reported by the Board of Directors in their Directors Report for that particular Financial Year. Surplus arising out of the CSR initiatives shall not form part of the business profits of the Company

12.Reports:

JWC's Board shall assist the CSR Committee to prepare reports that are required to be placed before the Board. The format of the Report shall be the format prescribed under the CSR Rules stated hereunder.

13. Publication of CSR policy & programs:

As per the CSR Rules, the contents of the CSR Policy shall be included in the Directors Report and the same shall be displayed on the Company's website, if any.

14. Policy review & future amendment:

The Committee shall annually review its CSR Policy from time to time and make suitable changes as may be required and submit the same for the approval of the Board.

15. Disclosures:

The Annual Report of the Company include a section on CSR outlining the CSR Policy, CSR committee, CSR initiatives undertaken by Company, the CSR spend during the financial year and other information as required by the prevailing law.

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