CSR POLICY

1.    Introduction:
Corporate Social Responsibility (CSR) is Company’s commitment to its stakeholders for a common social goal that demonstrates its commitments by adoption of appropriate strategies and projects especially to align with the business of the Company in an economically, socially and environmentally sustainable manner

Stakeholders of Cochin International Aviation Services Limited (CIASL) include persons directly connected with the activities of CIASL, its employees, shareholders, investors, business partners, clients, customers, Government & Non-Government organizations, NGOs, local communities and local self- governments.


2.    Objective of CSR Policy
Corporate Social Responsibility of CIASL is a form of corporate self-regulation integrated into a business model. Therefore, the policy will function as a built- in, self-regulating mechanism whereby the business will monitor and ensure its active compliance with the spirit of law, ethical standards and international norms.
The main objective of the Policy is to establish the basic principles and the general framework of action for the management to undertake and fulfil its corporate social responsibility.

3.    Committee of CSR
The Corporate Social Responsibility Committee (CSR Committee) is the governing team that will frame the scope of CSR activities of the Company and ensure compliance with the approved CSR Policy.
Pursuant to Section 135 of the Companies Act 2013, a Corporate Social Responsibility Committee of the Board consisting of three or more Directors, out of which at least one Director shall be an Independent Director.
The committee will meet at least once in a year.
 
In accordance with the provisions of the Companies Act 2013, the Board of Directors of CIASL has constituted a subcommittee of Directors called CSR Committee with the following members:

 

SL No Name of the members Designation
1 E.M Babu Chairman
2 A.N.K Kaimal Member
3 A.C.K Nair Member
4 Jose Thomas P Member

4.    Role of CSR Committee


The role of CSR Committee is;

  • To formulate and recommend to the Board, a Corporate Social Responsibility Policy which shall indicate the activities to be undertaken by the company as specified in Schedule VII of Section 135 of the Companies Act 2013.
  • To recommend the amount of expenditure to be incurred on the specified activities in a financial year
  • To monitor the Corporate Social Responsibility Policy of the company from time to time.
  • To recommend the Board on the guiding principles for selection, implementation and monitoring of CSR activities.
  • To formulate and recommend to the Board, an Annual CSR Action Plan in pursuance of its CSR policy

Any other matter/thing as may be considered expedient by the members in furtherance of and to comply with the CSR Policy of the Company.


5.    Role of Board of Directors

  • The Board shall constitute a CSR Committee consisting of three or more Directors out of which at least one Director shall be an Independent Director.
  • Approve CSR policy of the company
  • Disclose the contents of the Company CSR Policy in the Report of the Board Directors.
  • Ensure placing of the contents of the CSR Policy on the website of the Company
  • Ensure that CSR policy is implemented
  • Disclose the composition of CSR Committee in the Report of Board of Directors
  • Disclose about the CSR policy and its implementation in Report of the Board of Directors
  • The Board of Directors shall endeavour that the Company spends 2% of the average pre-tax net profits of the Company made during the 3 immediately preceding financial years in pursuance of its CSR Policy


6.    RESOURCES


Funding & Allocation
For achieving its CSR objectives through implementation of meaningful & sustainable CSR programmes, the Company will allocate 2% of its average net profits made during the 3 immediately preceding financial years as its Annual CSR Budget. The Annual CSR Budget shall be spent on projects / activities as laid down in this Policy.
Any surplus funds arising out of CSR projects or programs or activities shall not form part of the business of the Company. The CSR Committee may recommend for approval of the Board, schemes for utilizing such funds for CSR activities
CSR expenditure shall include all expenditure including contribution to corpus for projects or programs relating to CSR activities approved by the Board on recommendation of its CSR Committee, but do not include any expenditure on item not in conformity or not in line with the activities fall within the purview of Schedule VII of the Act.


7.    ACTIVITIES, PLANNING & IMPLEMENTATION

Areas of Activities


The broad areas of CSR initiatives to be extended by the Company are;

  • Eradicating hunger, poverty and malnutrition and 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, agroforestry, conservation of natural resources and maintaining quality of soil, air and water
  • 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 art and handicrafts
  • training to promote rural sports, nationally recognised sports, paralympic sports and olympic sports
  • contribution to the prime minister’s national relief fund
  • rural development projects and slum area development
  • disaster management, including relief, rehabilitation and reconstruction activities.
  • Infrastructure support and healthcare

8.    EXCLUSIONS
Corporate Social Responsibility (CSR) means the activities undertaken by the Company in pursuance of its statutory obligation laid down in Section 135 of the Act in accordance with the provisions contained in the CSR Rules, but shall not include the following, namely: -

  • Activities undertaken in pursuance of normal course of business of the Company
  • Any activity undertaken by the Company outside India except for training of Indian sports personnel representing any State or Union territory at national level or India at international level
  • Contribution of any amount directly or indirectly to any political party
  • Activities benefitting employees of the Company
  • Activities supported by the companies on sponsorship basis for deriving marketing benefits for its products or services
  • Activities carried out for fulfilment of any other statutory obligations under any law in force in India

 
9.    MONITORING AND EVALUATION

  • To ensure effective implementation of the CSR programmes undertaken at various locations, a monitoring and evaluation mechanism will be put in place.
  • The progress of CSR programmes under implementation at various locations will be reported to registered office on a periodical basis.
  • Project locations will try to obtain feedback from beneficiaries about the programmes implemented at the area
  • CSR initiatives of the Company will be reported in the Annual Report & the Board’s Report in compliance with Section 135 of the Act and rules made thereunder.


10.    CONCLUSION
This policy shall stand modified by the provisions of the Companies Act / Companies (CSR) Rules as amended from time to time and Government guidelines as and when these are in place and made enforceable. The power to modify / amend the CSR Policy will rest with the Board of Directors.

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