NCC BLUEWATER PRODUCTS LTD
CORPORATE SOCIAL RESPONSIBILITY POLICY
 

A.    POLICY OBJECTIVE
NCC Bluewater Products Limited (‘NCCBPL’ or ‘the Company’) is committed to conduct its business in a socially responsible, ethical and environmentally friendly manner and to continuously   work   towards   improving   quality   of   life   of   the   communities   in   its operational areas.
The Board of Directors (hereinafter   referred to as 'the Board')  of NCCBPL  has decided to adopt its CSR policy that will comply with the objectives and requirements stipulated  in Section 135  of the Companies  Act, 2013 (hereinafter  referred to as 'the Act') and the Rules  notified  thereunder.
Company in the initial phase will focus on the following areas for CSR projects from amongst the activities specified under Schedule VII of the Companies Act, 2013 and the Rules made thereunder:

  • RURAL DEVELOPMENT PROJECTS: Strengthening rural areas by improving accessibility, housing, drinking, water, sanitation, power and livelihoods, thereby creating sustainable villages.
  • EDUCATION: Promoting education, including special education and employment-enhancing vocational skills especially among children, women, elderly and the differently abled, and livelihood enhancement projects; monetary contributions to academic institutions for establishing endowment funds, chairs, laboratories, etc., with the objective of assisting students in their studies.
  • HUNGER, POVERTY, MALNUTRITION AND HEALTH: Eradicating extreme hunger, poverty and malnutrition, promoting preventive healthcare and sanitation, and making available safe drinking water.
  • GENDER EQUALITY AND EMPOWERMENT OF WOMEN: Promoting gender equality and empowering women; setting u p homes, hostels and day care centers for women and orphans; setting up old age homes and such other facilities for senior citizens; and adopting measures for reducing inequalities faced by socially and economically backward groups.
  • EVINRONMENTAL SUSTAINABILITY: Ensuring environmental sustainability, ecological balance, conservation of natural resources and maintaining the quality of soil, air and water.
  • NATIONAL HERITAGE, ART AND CULTURE: Protecting national heritage, religious places, art and culture including restoration of structures, buildings and sites of historical importance and works of art; setting up public libraries; promoting and developing traditional arts and handicrafts.
  • Contribution to the Prime Minister’s National Relief Fund or any other Fund set-up by the Central Government or the Central Governments for Socio Economic Development and Relief.
  • The CSR committee   may recommend to the Board of Directors additional   CSR initiatives, based on specific merit, provided that these projects fall under the scope of schedule VII of the Companies Act, 2013, as may be amended from time to time.

B.    APPLICABILITY
The CSR Policy shall apply to all CSR projects undertaken   by the Company as per Schedule VII of the Act.
The CSR Policy shall be applicable to the Company and all their employees.


C. Responsibility of the Board of Directors
The Board is responsible for:

  • approving the CSR Policy as formulated by the CSR Committee, subject to necessary changes / modifications as the Board may deem fit.
  • ensuring that in each financial year the Company spends at least 2%  of the average net profit excluding  profits arising from overseas branches made during the three immediate  preceding financial years or such other amount as may be stipulated in  accordance   with the  provisions of section 135 of  the Act  and the  Rules notified thereunder.
  • ensuring that in every financial  year funds committed by  the Company  for CSR activities   are utilized effectively.
  • disclosing in its Annual Report the names of CSR Committee  members,  the content  of the CSR Policy and ensure annual reporting of its CSR activities on the Company website.  Any other acts, deeds and things as may be required under law from time to time.
  • Board to report in its Report to the Members the reasons for failure if any to spend the stipulated amount towards CSR activities.

D. CSR Committee
I.  Composition: The CSR Committee shall consist of three or more directors  of which, at least one will be an independent director.
II.        The CSR Committee of the Company is responsible for:

  • formulating and recommending  to  the  Board the  CSR  Policy  which shall indicate activities  to  be undertaken  in line with Section 135 read  with  Schedule  VII of the Act and the Rules framed thereunder.
  • recommending to the Board the CSR expenditure to be incurred.
  • recommending to the Board, modifications to the CSR Policy as and when required.
  • regularly monitoring the implementation  of the CSR policy and reporting to the Board.

E. CSR Budget and utilization
CSR Committee   will recommend   the annual budgeted expenditure to the Board for its consideration and approval and which amounts shall be utilized in accordance with the CSR Policy.
NCCBPL will undertake its CSR activities, approved by the CSR Committee, through such other entity / organization as approved by the CSR Committee.
The surplus, if any, arising out of the CSR projects or programmes or activities will not form part of business profit of the Company.


F. Project identification and selection criteria

  • Projects to be undertaken shall be in line with Section 135 read with Schedule VII of the Act and the Rules made thereunder.
  • For selection of any project, the scope, environmental impact, cost, timelines, sustainability, visibility of the Company and other relevant factors needs to be evaluated. 
  • The authorized official in charge of CSR activities   shall submit a detailed proposal before the CSR Committee for consideration regarding the projects to be implemented. The CSR Committee, after due evaluation of the projects and competency, cost, credibility etc., shall accord necessary approval.

G. Monitoring and Reporting Framework
Company's CSR Committee shall monitor the implementation of the CSR Policy through periodic reviews of the approved projects. The annual budget and list of CSR projects, and activities shall be presented to the CSR Committee for its approval.

In compliance with the Act and to ensure funds spent on CSR projects and activities are creating the desired impact on the ground, a comprehensive Monitoring and Reporting  framework would be followed in compliance with the provisions of the Act.