Manjeet Cotton Pvt. Ltd

Social

Equipped with solar

12.5 MW

In Every Plant to Reduce CO Emissions.

Manjeet Group is a rapidly expanding organization, building “Fair Trade” standards with various welfare programs to help the farmers in India rise to their full potential. We are establishing world-class educational facilities in addition to providing financial and technical support to several NGOs that work with farmers.

We aid farmers in achieving sustainable growth to provide a better future for families and farmers. Manjeet Cotton Pvt Ltd has developed into India’s largest ginner thanks to our quality-centric approach and infrastructure facilities.

Our clients worldwide have recognized and appreciated our open communication, adherence to our code of conduct, and commitment to social responsibility. We have been supplying our extensive selection of cotton over the years to countries worldwide.  

CSR

I. PREFACE:
Following the provisions of Section 135 of the Companies Act 2013, the Corporate Social Responsibility (CSR) Committee of Manjeet Cotton Private Limited (“the Company”) was constituted by the Board of Directors of the Company. The Committee’s composition comprises three directors viz., Shri Bhupendra Singh Rajpal as the Chairman of the Committee along with Shri Rajendra Singh Rajpal and Shri Sanchit Rajpal as the Members of the Committee.

II. OBJECTIVE:
This Policy has been formulated in compliance with Section 135 of the Companies Act, 2013 and its applicable rules.

III. CSR VISION:

  • Develop meaningful and effective strategies for engaging with all stakeholders;
  • Consult with local communities to achieve effective and culturally appropriate development goals;
  • Partner with credible organizations like trusts, foundations etc., including non-governmental organizations;
  • Check and prevent pollution, recycle, manage and reduce waste, and sustainably manage natural resources;
  • Ensure efficient use of energy and environment-friendly technologies.

IV. SCOPE:
This Policy has been formulated in compliance with Section 135 of the Companies Act, 2013 and its applicable rules.

V. DEFINITIONS:

  • Corporate Social Responsibility (CSR) means and includes but is not limited to Projects or programs relating to activities specified in Schedule VII to the Companies Act, 2013 (‘Act’).
  • CSR Committee means the Corporate Social Responsibility Committee of the Board referred to in Section 135 of the Act.
  • CSR Policy relates to the activities to be undertaken by the Company as specified in Schedule VII of the Act and the expenditure thereon.
  • Net Profit means the net profit of the Company as per its financial statement prepared following applicable provisions of the Act (Section 198), but shall not include the following viz;
  • Any profit arising from any overseas branch or branches of the Company, whether operated as a separate company or otherwise and
  • Any dividend received from other companies in India, which is covered under and complying with the provisions of Section 135 of the Act, Provided that net profit in respect of a financial year for which the relevant financial statements were prepared following the provisions of the Companies Act 1956 shall not be required to be re-calculated following the provisions of the Act.

VI. ROLE OF THE CSR COMMITTEE:

  • Formulate and recommend to the Board a Corporate Social Responsibility Policy in compliance with Section 135 of the Companies Act, 2013.
  • Identify the activities under Schedule VII of the Companies Act, 2013.
  • Institute a transparent monitoring mechanism for implementing the CSR projects or programs or activities undertaken by the Company.
  • Recommend the amount of CSR expenditure incurred on the earmarked CSR activities.
  • Monitor the implementation of the CSR Policy from time to time.
  • Such other functions as the Board may deem fit.

VII. ROLE OF THE BOARD:

  • After taking into account the recommendations made by the CSR Committee, approve the CSR Policy for the Company
  • Ensure that the CSR activities included in this Corporate Social Responsibility Policy are undertaken by the Company.
  • The Board of the Company may decide to undertake its CSR activities approved by the CSR Committee through a registered trust or a registered society or a Company established under section 8 of the Act by the company, either singly or along with its holding or subsidiary or associate company, or along with any other company or holding or subsidiary or associate company of such other company, or otherwise provided that – If such trust, society or company is not established by the company, either singly or along with its holding or subsidiary or associate company, or along with any other company or holding or subsidiary or associate company of such other company, it shall have an established track record of three years in undertaking similar programs or projects/activities.
  • Ensure that in each financial year, the Company spends at least 2% of the average net profits made during the three immediate preceding financial years, calculated by Section 198 of the Act, in pursuance of its CSR policy. Further, while spending the amount earmarked for CSR activities, preference should be given to local areas and areas around the Company where it operates.
  • As per Section 135 of the Act, specify the reasons for underspending the CSR amount in the Board’s Report.

VIII. CSR ACTIVITIES FOR IMPLEMENTATION:
The CSR Activities would be chosen for implementation by the Company in compliance with the provisions of Section 135, read together with Schedule VII of the Companies Act, 2013.

IX. CSR MONITORING AND REPORTING FRAMEWORK:
In compliance with the Act and to ensure funds spent on CSR Activities are creating the desired impact on the ground, a comprehensive Monitoring and Reporting framework has been put in place.

The CSR Committee shall monitor the implementation of the CSR Policy through periodic reviews of the CSR activities. The respective CSR personnel will present their annual budgets along with the list of approved CSR activities conducted by the Company to the CSR Committee, together with the progress made from time to time as a part of the evaluation process under the monitoring mechanism.

X. CSR EXPENDITURE:
The CSR activities are undertaken in India only shall amount to CSR Expenditure. CSR Expenditure shall include all expenditures, including contribution to the corpus for CSR activities approved by the Board on the recommendation of the CSR Committee but does not include any expenditure on an item not in conformity or not in line with activities which fall within the purview of Schedule VII of the Act.

XI. DISCLOSURE OF THE POLICY:
The CSR policy recommended by the CSR Committee and approved by the Board shall be displayed on the Company’s website and shall be disclosed in the Board’s report as well.

XII. CSR REPORTING:
The Board Report of a Company shall include an Annual Report on CSR containing particulars specified in Annexure to the CSR Rules as per the prescribed format.

XIII. FREQUENCY OF MEETINGS:
The meetings of the Committee could be held at such periodic intervals as may be required.

XIV. QUORUM:
Subject to the provisions regarding the Quorum of the CSR Committee, as may be mentioned under any other Law or Statutory Regulations, the quorum shall be one-third of its total strength (any fraction contained shall be rounded off as one) or two members, whichever is higher.

XV. CHAIRMAN:
In the absence of the Chairman, the members of the Committee present at the meeting shall choose one amongst them to act as Chairman.

XVI. MINUTES OF THE COMMITTEE MEETING:
In the absence of the Chairman, the members of the Committee present at the meeting shall choose one amongst them to act as Chairman.

XVII. MISCELLEANOUS:
This policy shall be updated from time to time by the Company by any subsequent amendment(s)/ modification(s)/ change(s), if any, to the Companies Act, 2013, rules made thereunder, or any other applicable enactment for the time being in force w.r.t. provisions of Corporate Social Responsibility. 

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