Corporate Social Responsibility Policy of Shibaura Machine India Private Limited.
Shibaura Machine India Pvt. Ltd. (hereinafter referred to as Shibaura) has developed a CSR Policy (hereinafter referred to as Policy) in alignment with its objective, principles and values, for defining its responsibility as a socially and environmentally responsible corporate citizen. The Policy lays down the principles and mechanisms for undertaking various programs in accordance with Section 135 of the Companies Act 2013 along with Companies (Corporate Social Responsibility Policy) Rules, 2014 (hereinafter CSR Rules). The Policy shall apply to all the CSR programs and activities undertaken by Shibaura at various locations for the benefit of diverse sectors of the society.
Corporate Social Responsibility is a self-regulatory form of corporate conscience included into business models whereby corporates aim to balance with force of law and ethical standards according to national and international norms. All Companies in this regard focus on corporate sustainability to reflect competitiveness. The overall aim is to impact the society positively while get the most out of the creation of shared value for the shareholders, stakeholders and even employees. By this, there is a constant need to provide back to the one of the largest growing economies in the world. Hence, the concept of Corporate Social Responsibility was included in the Companies Act, 2013 and its related Rules (the ‘Act’) which mandated that certain Companies spend a requisite percentage of their profits towards certain activities given under the Act.
The Company has always endeavored to conduct its business responsibly and thrive to have in place a process to integrate social, environmental and educational and community development into our business operations and remains committed to undertake CSR activities in both letter and spirit in accordance with the provisions of Section 135 of the Act.
The CSR activities of the Company shall include, but not limited to any or all of the sectors/activities as may be prescribed by Schedule VII of the Companies Act, 2013 amended from time to time. Further, the Company will review the sectors/activities from time to time and make additions/ deletions/ clarifications to the above sectors/activities.
The main objective of the CSR Policy is to lay down guidelines for the Company to make CSR as one of the key focus areas to adhere to global interest in environment and that focuses on making a positive contribution to society through effective impact and sustainable development programs. The Policy intends to Strive for economic development in order to positively impact the society at large with a minimal natural resource footprint and to embrace responsibility for the Company’s actions and encourage a positive impact through its CSR activities by promoting education, skill development, rural development, Slum-area development, building homes, community improvement, poverty eradication, sanitation etc.
In terms of the CSR rules issued by the MCA the Company will be focusing on undertaking the project /programs /activities listed below, as specified in Schedule VII to the Act excluding activities undertaken in pursuance of normal course of business of a Company:
Our Board of Directors, our Management and all of our employees subscribe to the philosophy of compassionate care. We believe and act on an ethos of generosity and compassion, characterised by a willingness to build a society that works for everyone. This is the cornerstone of our CSR policy.
The Board of Directors of the Company shall have the powers to revise/modify/amend this Policy, as and when it deems fit, based on the recommendations to be made by the CSR Committee. Any or all provisions of this CSR Policy are subject to revision/amendment in accordance with the Act on the subject as may be issued from relevant statutory authorities, from time to time.
