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Nicotra India Private Limited

REGD. OFFICE : Shop No. 2F-201, IInd floor
Plot no. 1 & 2, LSC, Block G, Kondli Gharoli, Mayur Vihar, Phase – III, Delhi-110096

Corporate Social Responsibility (CSR) Policy

1. INTRODUCTION

Corporate Social Responsibility (“CSR”) is strongly connected with the principles of sustainability; an organization should make decisions based not only on financial factors but also on the social and environmental consequences. Therefore, it is the core corporate responsibility of “Nicotra India Private Limited” to practice its corporate values through its commitment to grow in a socially and environmentally responsible way, while meeting the interests of its stakeholders. CSR is defined as the integration of business operations and values, whereby the interests of all stakeholders including investors, customers, employees, the community, and the environment are reflected in the Company’s policies and actions. Hence, the CSR commitment of “Nicotra India Private Limited” positions its social and environmental consciousness as an integral part of its business plan and its commitment to all its stakeholders

The Policy has been formulated as per the Notifications issued by Ministry of Corporate Affairs regarding Companies (Corporate Social Responsibility Policy) Rules, 2014 from time to time (“Notifications”); Schedule VII and Section 135 of Companies Act, 2013 relating to Corporate Social Responsibility (including any amendments thereof) which is to be effective from 01st April 2014 and defined the following activities which may be included by the companies in their CSR Policies :

  • Eradicating hunger, poverty, and malnutrition, promoting health care including preventive health care and sanitation including contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water.
  • Promoting education, including special education and employment enhancing vocation skills, especially among children, women, elderly, and the differentially abled and livelihood enhancement projects.
  • Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, daycare centers, 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 the quality of soil, air, and water including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga.
  • 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 (Central Armed Police Forces (CAPF) and Central Para Military Forces (CPMF) veterans, and their dependents including widows).
  • Training to promote rural sports, nationally recognized sports, Paralympic sports, and Olympic sports;
  • Contribution to the Prime Minister’s National Relief Fund or Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES 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.
  • (a) Contribution to incubators or research and development projects in the field of science, technology, engineering and medicine, funded by the Central Government or State Government or Public Sector Undertaking or any agency of the Central Government or State Government; and

  (b) Contributions to public-funded Universities; Indian Institute of Technology (IITs); National Laboratories and autonomous bodies established under Department of Atomic Energy (DAE); Department of Biotechnology (DBT); Department of Science and Technology (DST); Department of Pharmaceuticals; Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH); Ministry of Electronics and Information Technology and other bodies, namely Defense Research and Development Organisation (DRDO); Indian Council of Agricultural Research (ICAR); Indian Council of Medical Research (ICMR) and Council of Scientific and Industrial Research (CSIR), engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs).;

  • Rural development projects.
  • Slum area development.
  • Disaster management, including relief, rehabilitation, and reconstruction activities

2. POLICY STATEMENT

The CSR Policy of the Company aims to achieve, consolidate and strengthen Good Corporate Governance including socially and environmentally responsible business practices that balance financial profit with social well-being.

3. SCOPE AND APPROACH

  1. THE COMPANY is committed to the well-being of the local communities and the society at large.
  2. The scope and approach of the CSR Policy of THE COMPANY are defined by the following considerations:
    • THE COMPANY will take into consideration the activities referred under Schedule VII of the Companies Act, 2013 read in consonance with Notifications regarding amendments to the Schedule VII of Companies Act, 2013.
  3. The proposed focus of THE COMPANY’s CSR initiatives is therefore on thematic and geographic areas.
  4. The geographic scope of THE COMPANY’s CSR work priority wise includes:
    • The immediate surroundings of the registered office and/or branch offices / Works / or any other place of work of THE COMPANY
    • The district, town, or city as a whole where the registered office and/or branch / Works / or any other place of offices of THE COMPANY are located;
    • The country as a whole is part of THE COMPANY’s contribution to national efforts towards dealing with emergency situations and achieving higher national goals.
  5. The thematic/program focus of THE COMPANY’s CSR work includes, but is not limited to:
    • promoting education, including special education and employment enhancing vocation skills, especially among children, women, elderly, and the differentially abled and livelihood enhancement projects..
    • promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, daycare centers, 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 the quality of soil, air, and water including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga.
    • 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.
    • any other activity as prescribed or will be prescribed in Section 135 of Schedule VII of Companies Act, 2013
  6. The approach of THE COMPANY would be oriented to identify and formulate projects in response to felt societal needs in diverse areas falling in the geographic scope mentioned in para 3.4 and to implement them with full involvement and commitment in a time-bound manner.
  7. This section enlists a set of sample activities that can be undertaken by the Company towards the achievement of the CSR goal and objectives. These are by no means an exhaustive list and will be reviewed and modified from time to time as per need.

4. STRATEGIES

The strategies for designing, implementing and monitoring the CSR activities of THE COMPANY are based on activities suggested in the Notifications; Schedule VII and Section 135 regarding Corporate Social Responsibility of Companies Act, 2013. These strategies will help in standardizing the CSR related processes to be essential in the context of THE COMPANY.

5. GUIDING PRINCIPLES

  1. In keeping with the Notifications; Schedule VII and Section 135 of Companies Act, 2013, the CSR initiatives of THE COMPANY will be guided by the following overarching principles:-
    • Ensure care for all stakeholders in implementing its core business as well as CSR activities. THE COMPANY will remain committed to protecting the interests of all its partners and stakeholders and the society at large.
    • Undertake ethical business practices building on the existing systems for maintaining transparency and accountability.
    • Promote healthy workplaces and maintain a commitment to quality, health, and safety in every aspect of the business.
    • Ensure environmental consideration and strategic environment conservation initiatives as an integral aspect of business processes.
    • Promote equality of opportunity and diversity of workforce throughout business operations.
    • The company believe is volunteerism and its employees participate actively in its CSR initiatives as the CSR sub-committee shall be elected/nominated from the employees.

6. INSTITUTIONAL SETUP 

  1. The Corporate Social Responsibility functions of THE COMPANY will be monitored by a CSR Committee constituted by the Board of Directors of THE COMPANY. However, the planning, coordination, and implementation of CSR Activities will be looked after by the CSR sub-committee.
  2. The following persons are members of the CSR Committee:
    •  Mr. Sachin Maheshwari, Managing Director
    • Mr. Sheel Kapoor, Director
    • Mrs. Prabha Maheshwari, Director
  3. Towards the achievement of the CSR targets, the CSR Sub-Committee will identify opportunities for CSR activities within the broad framework outlined in this policy. The committee will additionally be responsible for facilitating the selection of appropriate agencies for implementation, supervising and monitoring the quality of work and reporting to the CSR Committee who shall report to the Board about the progress. The Sub-Committee will, from time to time, also provide necessary inputs into the preparation of the Annual CSR plan to the CSR Committee.
  4. Within the overall framework of the CSR Policy and aligned to the business plan of THE COMPANY, the CSR Sub-Committee will facilitate the development of an annual CSR action plan and budget. This will include projects identified by THE COMPANY staff at various locations if any. The Annual CSR Plan detailing the individual projects and budgeting will become operational after review and approval by the CSR Committee and subsequently by the COMPANY’s Board.
  5. The CSR Sub-Committee will have the option to co-ordinate, monitor, and assist operationalization of the activities in partnership with a range of stakeholders including Civil Society Organizations, Community based organizations, and other public and private sector enterprises. Services of technical experts will be sought when required. For this purpose, THE COMPANY can enter into agreements with these agencies and/ or experts
    on agreed terms of reference including detailed work plans with budgets and timelines after getting approval from the CSR Committee.
  6. CSR Sub-Committee : Nicotra India CSR sub-committee consist of the following members
    • Mr. Dinesh Gupta, Business Head (North) of Caryaire Equipments India Pvt. Ltd
    • Mr. Sanjay Mangal, Group Head (Finance) of Caryaire Equipments India Pvt. Ltd.
    • Mr.K.K.Arora,Consultant–Finance andLegal of Nicotra IndiaPvt. Ltd.
    • Ms. Archna Kak, Asstt. Manger- HR of Caryaire Equipments India Pvt. Ltd.
    • Mr. Sunil Kumar Sharma, Manger- HR of Nicotra India Pvt. Ltd.

7. IMPLEMENTATION MECHANISM 

  1. While identifying the CSR initiative the following considerations will be taken into account.
    • The thrust of the schemes/projects should be in the identified priority areas of THE COMPANY
    • While implementing the identified projects, time frames and milestones will be predefined
    • Furthermore, the appropriate agencies must be a registered trust or registered society or a company established under section 8 of the Companies Act, 2013 to fulfill the criteria for their eligibility under Notifications, for which suitable documentation as evidence should be kept.
  2. The financial limits and the sanctioning authorities for CSR projects shall always be approved by the Board of Directors of THE COMPANY.
  3. The sub-committee members will visit & identify the NGOs in different areas like education, health, environment & skill development or other areas as notified in Section 135 of Companies Act, 2013.
  4. The sub-committee will help in recommending and executing the activities in the shortlisted NGOs to the CSR committee.
  5. Activities / Events may be conducted on special days/occasions during the year such as the Birthday of the company’s founder Mr. Anil Maheshwari / Mrs. Prabha Maheshwari/ Mr. Sachin Maheshwari & Caryaire/Nicotra Foundation Day(s).

8. ALLOCATION OF FUNDS

  1. The following criteria shall be followed in the allocation of funds:
    • The CSR Budget, in every financial year, shall be two percent of average net profits of THE COMPANY made during the three immediately preceding financial years, as per the Notifications; Schedule VII and Section 135 of Companies Act, 2013 on CSR, which shall be approved by THE COMPANY Board
    • The surplus arising out of CSR projects or programs or activities shall not form part of the business profit of the Company.
  2. Fund disbursement to implementing organization(s) would be released after the requisite documentation between THE COMPANY and the organization(s) with the recommendation of the CSR Committee and then approval by the Board of THE COMPANY.

9. REVIEW AND REPORTING

  1. CSR Sub-Committee will meet on regular basis, to review the progress of proposed activities as per agreed targets and timelines.

  2. An annual report of the activities undertaken under the CSR initiatives will be prepared as prescribed by law and suitably integrate into the Board’s Report of THE COMPANY.

  3. CSR Committee will evaluate the CSR activities.

  4. The CSR committee will provide regular progress report through CSR sub-committee to the board. This report will include achievement since last progress report/during the last quarter in terms of coverage compared to the target and reasonsf or variance, plans to overcome shortfalls if any and support required from the CSR committee/board to overcome the shortfalls. 

10. DISPLAY 

  1. This CSR Policy will be displayed on the website of THE COMPANY.
  2. The significant contents of this Policy as notified by law will be disclosed in the Board’s Report of THE COMPANY.

11. GENERAL

  1. The Company reserves the right to modify, cancel, add, or amend any of the above contents of the Policy but subject to the approval of Board of THE COMPANY.
  2. Any or all provisions of the CSR Policy shall be subject to revision/amendment in accordance with the Companies Act, 2013 and any notifications on the subject as may be issued by Ministry of Corporate Affairs, from time to time.
  3. In case of doubt with regard to any of the provision of the Policy and also in respect of matters not covered herein, the interpretation & decision of the Board of THE COMPANY shall be final.
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