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CSR Policy Of Watertec (India) Private Limited


Objective

The main objective of CSR policy is to make CSR a key business process for sustainable development of the society. Watertec (India) Private Limited will act as a good corporate citizen and aims at supplementing the role of Government in enhancing the welfare measures of the society within the framework of its policy.


Measures

In the aforesaid backdrop, policy on CSR of Watertec (India) Private Limited is broadly framed taking into account the following measures:


The CSR activities shall be undertaken by Watertec (India) Private Limited, as stated in this Policy, as projects or programs or activities (either new or ongoing), excluding activities undertaken in pursuance of its normal course of business.


The CSR activities which are exclusively for the benefit of Watertec (India) Private Limited employees or their family members shall not be considered as CSR activity.


The Board of Watertec (India) Private Limited may decide to undertake its CSR activities as recommended by the CSR Committee, through a registered trust or a registered society or a company established by the company or its holding or subsidiary or associate company pursuant to Section 135 of the Companies Act, 2013 and rules made there-under.


The following is the list of CSR projects or programs which Watertec (India) Private Limited plans to undertake pursuant to Schedule VII of the Companies Act, 2013:


1. eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water;

2. promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;

3. 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;

4. 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;

5. 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:

6. measures for the benefit of armed forces veterans, war widows and their dependents;

7. training to promote rural sports, nationally recognised sports, paralympic sports and Olympic sports;

8. 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;

9. contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government

10. rural development projects;

11. Any other measures with the approval of Board of Directors on the recommendation of CSR Committee subject to the provisions of Section 135 of Companies Act, 2013 and rules made there-under.


Organisational Mechanism And Responsibilities

Constitution of Corporate Social Responsibility Committee


The Board of Directors of the Company constituted a Corporate Social Responsibility Committee of the Board (“CSR Committee”) consisting of three directors.


The CSR Committee shall –


The Board of Watertec (India) Private Limited may decide to undertake its CSR activities as recommended by the CSR Committee, through a registered trust or a registered society or a company established by the company or its holding or subsidiary or associate company pursuant to Section 135 of the Companies Act, 2013 and rules made there-under.


The following is the list of CSR projects or programs which Watertec (India) Private Limited plans to undertake pursuant to Schedule VII of the Companies Act, 2013:


1. Formulate and recommend to the Board, a CSR policy and activities to be undertaken by the company as per Schedule VII;

2. Recommend the amount of expenditure to be incurred on the activities; and

3. Monitor the Policy of the company from time to time.

The Board of the company shall after taking into account the recommendations made by the CSR Committee, approve the policy for the company and disclose contents of such Policy in its report and also place it on the company’s website and ensure that the activities as are included in the CSR Policy of the company are undertaken by the company.


Governance

The Company through a registered trust or a registered society and other like minded stakeholders can undertake CSR Activities as per the provisions of Companies Act 2013. This helps to widen the Company’s reach and leverage upon the collective expertise, wisdom and experience that these partnerships bring to the table.

Budgets

A specific budget will be allocated for CSR activities subject to the limits as specified under Section 135 of Companies Act 2013, based on the recommendations of the CSR Committee. The CSR Policy mandates that the surplus arising out of the CSR projects or programs or activities shall not form part of the business profit of a company.

CSR expenditure shall include all expenditure including contribution to corpus, for projects or programs relating to CSR activities approved by the Board on the recommendation of the CSR Committee which fall within the purview of Schedule VII of the Companies Act 2013.