JagranPrakashanLimited (JPLor ‘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 CSR activities of the company will be implemented in accordance with the following principles:
Businesses should respect, protect, and make efforts to restore the environment.
Businesses should respect the interests of, and be responsive towards all stakeholders, especially those who are disadvantaged, vulnerable and marginalised.
Businesses should respect and promote human rights.
Business work should towards equal development of society.
Business should respect cultural ethnicity and dignity of individuals and foster positive relationship with the people in the areas where the Company operates.
Business should provide development opportunities to local communities in a culturally appropriate manner, in consultation & cooperation with local government authorities and other stakeholders, as may be appropriate.
Business should endeavour to develop local entrepreneurship and encouraging use of local goods, services and manpower to promote inclusive economic growth of local areas.
Scope of CSR Activities
In line with the broad principles defined above, the Company would have freedom and flexibility to choose from any of the activities specified in Annexure 1. The CSR projects and programs to be undertaken by the Company shall include activities falling within the preview of schedule VII of Companies Act, 2013; as amended from time to time. Thus, with any change in the statutory provisions governing the activities, the Annexure 1 shall be deemed to include/exclude such activities as permissible under law.
The list and implementation modalities may be modified from time totime, as per recommendations of the CSR Committee of the Company.
The surplus, if any, arising out of CSR initiatives of the Company shall not formpart of its business profits and shall be utilized for CSR activities only.
The CSR Committee will be responsible for overseeing the approval, execution, implementation and monitoring of the project.
These programs will be executed by the company and where appropriate in partnership with local government, various NGO partners, service providers and others.
In case the Company undertakes to carry any of the projects through any trust, society or company not established by the company or its holding or subsidiary or associate company, the CSR Committee shall ensure that such trust, society or company has an established track record of three years in undertaking similar programs or projects and is eligible to undertake the projects under Section 135 of the Act.
The CSR Committee under the supervision of the Board shall try to ensure that the Company spends in each Financial Year (FY), at least two per cent of the average net profit (calculated as per Section 198 of the Act) made during the three immediately preceding FYs (CSR Budget).
If the Company is unable to spend the prescribed 2% of its average net profit as mentioned above, the committee will review the reasons for the same and place the same with justification to the Board.
The company will report reasons for not spending the entire Budget outlay for CSR allocated in any financial year. The unutilised fund would remain part of the corpus and get carried forward for the next year for expenditure thereon.The company has to provide reason for not spending such amount in that financial year. Further, it will not dilute the fund allocation requirement for such next financial year.
To comply with the obligations, the CSR Committee may also decide to contribute amount of CSR Budget, either wholly or partially towards Corpus of any foundationprovided under Schedule VII (as amended from time to time) as may be approved by the Board.
Targets and performance measures
To ensure effective implementation, the Committee will set measurable targets for each CSR project and Funds for such projects.
The CSR Projects shall be monitored at various levels as follows:
At the Board Level
The Board shall review, once in a year, the CSR initiatives of the Company including amount spent thereon.
At the CSR Committee Level
The CSR Committee will be monitoring the CSR Policy on half yearbasis and among other agenda shall consider the following:
Monitoring the utilization of funds towards approved CSR Activities.
Define and review targets for the CSR commitments and performance measures.
Evaluate actual CSR performance and impact such activities are making on the people, society and environment
Corrective measures to be taken to rectify deviations (if any).
The members of the CSR committee (and specifically the Committee Chairman) may also undertake the following activities, whenever it deems necessary for effective discharge of its responsibilities:
Field visits to Project / Programme sites;
Interaction with beneficiary communities to obtain feedback;
Review of Policy
The CSR Policy will be reviewed periodically by the CSR Committee of the Company.
Documentation, reporting and disclosures
As part of compliance to the Act, and in preparation of the Annual CSR Report as per Reporting Format, the Head CSR of the Company will ensure the following:
All CSR Projects / Programmes are comprehensively documented
All appropriate MIS are maintained, in a suggestive template.
Accountability is fixed at every level of the CSR process and the implementation apparatus
Disclosure in the Annual Report of the company
The details about the policy developed and implemented by the company on corporate social responsibility, initiatives taken during the year and details of CSR spent during the financial year shall be disclosed in the Annual Report of the Company.
This policy shall be subject to amendments under the Companies Act 2013 or any other applicable law or regulation.
CSR Activities as provided in Schedule VII (Please check and the completeness of list)
eradicating hunger, poverty and malnutrition, promoting health care including preventive health care 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 arts and handicrafts;
measures for the benefit of armed forces veterans, war widows and their dependents;
training to promote rural sports, nationally recognised sports, paralympic sports and Olympic sports;
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;
contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government;
rural development projects.
slum area development.
Explanation.— For the purposes of this item, the term ‘slum area’ shall mean any area declared as such by the Central Government or any State Government or any other competent authority under any law for the time being in force.”