CSR

CORPORATE SOCIAL RESPONSIBILITY POLICY

Philosophy

Switz Foods Pvt Ltd aims at conducting its business in a way that is sustainable, facilitating greater and more inclusive prosperity for current and future generations. Switz Foods Pvt Ltd recognizes that business enterprises are economic organs of the society and draw on societal resources. Hence, like a responsible “good corporate citizen” Switz Foods Pvt Ltd endeavors to carry on its business responsibly, mindful of its social accountability, respecting applicable laws and with regard for human dignity.

Switz Foods Pvt Ltd allocates at least 2% of its average net profits before taxes of the preceding three years, towards CSR activities to sustain and improve a healthy and prosperous environment and to improve the quality of life of the communities it serves. These initiatives of Switz Foods Pvt Ltd are independent of the normal conduct of Switz Foods Pvt Ltd’s business.

Objective

The CSR Policy of the Company has been formulated and adopted in terms of Section 135 of the Companies Act, 2013 and the Rules made there under. The Company undertakes CSR activities specified in Schedule VII of the Companies Act, 2013.

Constitution of CSR Committee

  1. The Board of Directors of the Company has constituted a CSR Committee of Directors comprising of two directors.
  2. The Chairperson of the Committee shall be designated by the Board from among the Committee members.
  3. The Company Secretary of the Company shall act as Secretary to the Committee.
  4. The Board will have the power to reconstitute CSR Committee as and when required from time to time.

Role of CSR Committee

The CSR Committee will play the following role in fulfilling the Company’s CSR objectives:

  • Recommendation of the project/ programme to be undertaken within the long term vision and strategy of the Company in respect of CSR activities, amount of expenditure to be incurred, type of activities, roles and responsibilities of various stakeholders, etc.
  • Formulation of a monitoring mechanism for ensuring implementation of the projects / programmes undertaken or the end use of the amount spent by it towards CSR activities.

The contribution will be made for any activities undertaken within India. The Committee will give preference to the local area and areas around it where it operates in spending the amount earmarked for CSR activities. Surplus arising out of the CSR activities will be utilized for the benefit of the community.

CSR Policy

It is Switz Foods Pvt Ltd’s policy:

  1. To undertake CSR activities as recommended by the CSR Committee and approved by the Board from time to time in any one or more of the areas falling under the following as specified in Schedule VII of the Act:
    • Eradicating hunger, poverty and malnutrition (promoting health care including preventive health care) and sanitation (including contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation) and making available safe drinking water.
    • Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects.
    • Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups.
    • Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources and maintaining quality of soil, air and water (including contribution to the ‘Clean Ganga Fund’ set-up by the Central Government for rejuvenation of river Ganga.
    • Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional arts and handicrafts.
    • Measures for the benefit of armed forces veterans, war widows and their dependents.
    • Training to promote rural sports, nationally recognized sports, paralymic sports and Olympic sports.
    • Contribution to the Prime Minister’s National Relief Fund or any other fund set up by the Central Government for socio-economic development and relief and welfare of the scheduled castes, the scheduled tribes, other backward classes, minorities and women.
    • Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government.
    • Rural development projects.
    • Slum area development (‘Slum Area’ shall mean any area declared as such by the Central Government or any State Government or any other competent authority under any law for the time being in force).
  2. Preference shall be given to the local area and areas around where the Company operates, for spending the amount earmarked for CSR activities.
  3. CSR activities shall be undertaken by the Company in adherence with this CSR Policy, either new or ongoing and shall exclude activities undertaken in pursuance of its normal course of business.
  4. CSR activities shall be undertaken only in India.
  5. CSR activities that benefit only the employees of the Company and their families shall not be considered as CSR activities in accordance with this Policy.
  6. Contribution of any amount directly or indirectly to any political party under section 182 of the Act by the Company, shall not be considered as CSR activity under this Policy.

Implementation & Reporting

  1. The CSR Policy shall be implemented by the CSR Committee under the broad policy and frame work laid down by the Board in this regard from time to time.
  1. The CSR Committee shall identify the CSR activities along with the geographical area to be undertaken by the Company based on the detailed study & research. The study encompasses various parameters such as – health indicators, literacy levels, sustainable livelihood processes, population data – below the poverty line and above the poverty line, state of infrastructure, environment, among others.
  2. The CSR Committee shall also estimate the total amount of expenditure to be incurred and time required by the Company for undertaking such CSR activities during the financial year.
  3. On determination of the modalities, every year the CSR Committee shall present a detailed proposal before the Board containing:
    • List of CSR activities to be under taken.
    • Geographical areas wherein such CSR activities are to be undertaken.
    • Defined objectives (developed out of existing societal needs determined through baselines / studies / research).
    • Defined expected timelines, outcomes, outputs and inputs.
    • Implementation source, either directly or through some trust, society, company or otherwise.
    • Monitoring system.
  1. The Board shall review the proposal of the CSR Committee and if deems fit may approve the recommendation of the Committee with any modification that may be deemed necessary.
  2. The CSR Committee, for the proper implementation of CSR activities may form CSR Action Team and will assign the task of implementation of the CSR plan within specified budgets and timeframes to such persons or bodies as it may deem fit. The CSR Action Team shall review the implementation of the CSR activities and issue necessary directions from time to time to ensure orderly and efficient execution of the CSR activities in accordance with this Policy. The CSR Action Team will provide a periodical status update to the CSR Committee on the progress of implementation of the approved CSR Programmes carried out. It shall be the responsibility of the CSR Committee to review such reports and keep the Board apprised of the status of implementation of the same.
  3. The Company may also collaborate with other Companies for undertaking projects or programs or CSR activities in such a manner that the CSR Committees of respective Companies are in a position to report separately on such projects or programs in accordance with CSR Rules.
  4. On completion of the CSR activities, the Chairman of the CSR Committee shall provide a detailed report to the Board including but not limited to activities done, amount spent, benefits, time consumed, type of beneficiary communities, implementation channel etc and shall be certified by the Chairman of the CSR Committee. All CSR activities shall be measured against targets and budgets.
  5. The CSR Committee for the effective implementation of CSR Policy shall promote CSR activities as approved by the Board by offering opportunities to employees to participate in wide array of CSR activities.

Amendment

The Board of Directors may, based on its assessment of the Company’s needs, financial soundness, legal and regulatory developments, subject to compliance with the applicable laws and rules, at any time modify, change, vary, alter, amend, this CSR Policy.

Offers Zone

News & Event

Mathemazic - Award of Excellence in Mathematics

Fun Zone