POLICY ON CORPORATE SOCIAL RESPONSIBILITY
We, Writemen Media Private Limited (“the Company”) have been actively undertaking corporate social responsibility (“CSR”) activities as the Company falling under the criteria laid down in the Companies Act, 2013. The Board has constituted a CSR Committee to formulate our CSR Policy and to discuss and review CSR activities that we undertake pursuant to it. We take pride in undertaking sustainable CSR initiatives that could be vital towards fulfilling critical societal need gaps in the communities within which we operate. We also believe that we have a larger responsibility towards making a difference within our industry and also society at large and therefore we are undertaking several initiatives in this direction.
Our aim is to drive “holistic empowerment” of our communities and we believe in implementing sustainable social development programs, which will have maximum societal impact mainly through enabling investments in education, rural development together with special focus on healthcare, or such other areas as provided in Schedule VII of the Companies Act, 2013 as amended from time to time, through Public TV Educational & Charitable Trust, which spearheads CSR activities of the Company.[D1]
A.CSR Committee shall consist of three or more directors of which, at least one will be an independent Director, unless otherwise required under applicable law.
- the CSR Committee of the Company will be responsible for:
- formulating and recommending to the Board, the CSR Policy;
- identifying CSR activities to be undertaken in terms of the provisions of the Act and Rules there under, provided such activities are indicated in the CSR Policy;
- recommending the annual budgeted expenditure to be incurred on CSR activities by the Company, to the Board for its approval;
- Subject to the provisions of the Act, recommend the locations for carrying out CSR activities;
- recommending to Board, modifications to the CSR policy, as and when required; and
- regularly monitoring the implementation of the CSR policy
The Board of the Company will be responsible for:
- approving the CSR policy as formulated by the CSR Committee, with or without modifications;
- considering the recommendations of the CSR Committee and providing appropriate instructions / directions to the CSR Committee when required;
- preparing a budget of expenditure to be applied for CSR projects contemplated in the annual policy of the Company;
- ensuring that in each financial year the Company spends at least 2% of the average net profits of the Company, made during the 3 (three) preceding financial years, or such other amount as prescribed under the Act and Rules framed thereunder, in pursuance of its CSR Policy.
- disclosing in the Report of the Board, the names of CSR Committee members and ensure annual reporting of its CSR activities in the format as prescribed under the Act and the Rules framed thereunder.
- Complying with the requirements of the Act and the Rules regarding corporate social responsibility.
ANNUAL ACTION PLAN
The CSR Committee shall formulate and recommend an Annual Action Plan every year to the Board, which shall include the following:
- a) the list of CSR projects or programmes that are approved to be undertaken in areas or subjects specified in Schedule VII of the Act;
(b) the manner of execution of such projects or programmes;
(c) the modalities of utilization of funds and implementation schedules for the projects or programmes;
(d) monitoring and reporting mechanism for the projects or programmes; and
(e) details of need and impact assessment, if any, for the projects undertaken by the company:
However, along with above details, the Annual Action Plan may include such other details as the CSR Committee or Board may require from time to time and also, the Board may alter such plan at any time during the financial year, as per the recommendation of CSR Committee, based on the reasonable justification to that effect.
- The Company recognizes that monitoring is critical for assessment of the progress as regards timelines, budgetary expenditure and achievement of objects of the CSR Policy. Monitoring may be done periodically with the help of identified key performance indicators.
- Implementation and monitoring of the CSR activities will be overseen by the CSR Committee.
A.the CSR Policy recommended by the CSR Committee and approved by the Board shall be displayed in the Company’s website for public viewing.
- In case of any doubt with regard to any provision of this CSR Policy and also in respect of matters not covered herein, a reference should be made to the CSR Committee. In all such matters, the interpretation and decision of the CSR Committee shall be final.
- All provisions of the CSR Policy would be subject to revision/amendment in accordance with the applicable laws.
- the Company reserves the right to modify, cancel, add, or amend this CSR Policy.