Warkem Biotech Pvt. Ltd

CSR Policy

Introduction:

The Company has been directly and also indirectly, carrying out various socially beneficial activities aiming to be a part of the process of progress and development of Society as a whole.

In compliance of the provisions of the Companies Act 2013, the Company has formulated this Policy on Corporate Social Responsibility.
Vision & Objective :
Vision:

To actively help/ assist the weaker sections of the Society, mainly in and around the geographical areas where Company’s offices and factories are located. The Company plans to work together with other organisations including Charitable Trusts, NGOs, and bodies working in Research and Educational fields, Government Agencies etc. as partners in this activity for achieving a better, sustainable way of life for the weaker sections of society.

The objectives of the CSR Policy are to:

1. Reiterate the commitment to common good – reflecting the importance that the Company has been giving in discharging its social obligations.
2. To generate, community goodwill and help reinforce the image of the Company as a socially responsible corporate citizen.
3. To create a sense of empathy and social awareness amongst employees by actively involving them in CSR activities and thus giving them an opportunity to participate in the process of serving the society at large.

Basic Premises:

This CSR policy has been formulated in consonance to the provisions of Section 135 of the Companies Act 2013 (“the Act “) read with Schedule VII of that Act  and in accordance with the Companies (Corporate Social Responsibility Policy Rules, 2014) notified by the Ministry of Corporate Affairs, Government of India in 2014.

In accordance with provisions of the above mentioned Act, and Rules, the Board of Directors of the Company has formed a Committee of Board of Directors named as Corporate Social Responsibility Committee (CSR Committee).

The Members of the Committee are as follows:

Sl. No.	Name of Director	Designation / Nature  of Directorship	Number of meetings of CSR Committee held during the year	Number of meetings of CSR Committee attended during the year
1	Mrs. S.G. Warke	Managing Director	4	4
2	Dr. G.M. Warke	Director	4	4
3	Mr. V. M. Warke	Director	4	4
4	Dr. V.G. Warke	Director	4	4
5	Dr. R.G. Warke	Director	4	4
6	Dr. R.V. Warke	Director	4	4

Scope:
The Company will undertake all such CSR activities, as may be decided/approved by the Board of Directors which falls within the purview of the Act, Rules, and amendments thereto from time to time.

The major focus areas of CSR activities would be as under:

• Promoting Education/Skill Development.
• Promoting research and development in Agriculture, Horticulture/aquaculture etc.
• Promoting health care, medical help/assistance to the needy.
• Eradicating extreme hunger and poverty
• Promoting gender equality and empowering women.
• Setting up homes and hostels for women and orphans.
• Ensuring environmental sustainability.
• Rural / Agricultural extension /development projects.

Besides undertaking direct CSR activities, the Company may make contributions to Prime Minister’s National Relief Fund and any other Government approved Funds/Schemes or Organizations /Universities/Research Institutes etc. as permitted/allowed under the Act.

CSR Implementation Process:

• Programmes / activities to be undertaken by the Company under the head CSR shall be as approved by Board of Directors (the Board) in pursuance to the recommendations of the CSR Committee of the Board.
• CSR Committee will recommend the annual budgeted expenditure to the Board for its consideration and approval.
• A specific budget shall be allocated for each specific CSR activity/project. This budget shall be project/activity driven. The time period / duration over which the activities will be spread, will depend on its nature, extent of coverage and the intended impact of the programme
• CSR expenditure shall include all expenditure including contribution to corpus of other eligible entities for projects or programs relating to CSR activities approved by the Board.
• The surplus, if any, arising out of any CSR projects or programs or activities shall not form part of the business profit of the Company.
• The CSR projects/programmes/activities will be undertaken by the Company directly or through recognised organisations like Charitable Trusts /NGO/ Universities / Research Organisations etc. which fulfill eligibility criteria prescribed under the Act & Rules.
• While implementing the CSR Policy due preference shall be given to the benefits of local area and areas of the Company’s operations and areas in which company’s customers are concentrated for spending the amount earmarked for CSR Policy / activities.

Monitoring & Reporting Process:
To ensure effective implementation of the CSR programmes / activities, a monitoring mechanism will be put in place depending upon type of CSR activity/project

Programme monitoring mechanism will ensure that CSR spends achieve the objectives and are, within the budget sanctioned.

CSR spends will be audited in an accountable and transparent manner.

Evaluation:
Besides obtaining feedback from the beneficiaries, the CSR Committee may, if required, conduct impact studies on a periodic basis, by independent parties, depending upon type of CSR activity /project. This may also be done through field visits, comprehensive documentation, and regular interaction with beneficiaries.

Reporting and Documentation:

• The progress of CSR programmes / activities under implementation will be reported to CSR Committee on a periodical basis.
• Appropriate documentation of the CSR activities undertaken and expenditure incurred will be done on a regular basis.
• Quarterly reporting on CSR activities and review by the CSR committee and six monthly reviews by the Board will be done.

General:

• In case of any doubt with regard to any provision of the policy and also in respect of matters not covered herein, a reference will be made to the Board of Directors by CSR Committee. In all such matters, the interpretation & decision of the Board of Directors shall be final.
• Any or all provisions of the CSR Policy would be subject to revision / amendment in accordance with the guidelines on the subject as may be issued from Government, from time to time.
• The Company reserves the right to modify, cancel, add, or amend any of the provisions of CSR Policies.