CSR Policy
CORPORATE SOCIAL RESPONSIBILITY POLICY
(CSR POLICY)
This document describes the Corporate Social Responsibility Policy (‘CSR Policy’ or ‘Policy’) of DAIMLER TRUCK INNOVATION CENTER INDIA PRIVATE LIMITED (‘DTICI or ‘the Company’).
In terms of the Companies Act, 2013 (Act), every company meeting the qualifying criteria as mentioned in the Act must comply with Section 135 of the Act read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 (Rules) as amended from time to time and Schedule VII thereto.
This Policy provides guidance and framework relating to regulatory requirements, activities in the specified areas and governance mechanism to ensure effective and compliant implementation of the Policy.
A. CSR Vision
Through sustainable measures, actively contribute to the Social, Economic and Environmental Development of the community in which we operate ensuring participation from the community and thereby create value for the nation.
B. Objectives
DTICI has always believed in creating societal value along with their business services, which has inherent linkages and interconnections with the immediate and long-term societal impact. An endeavor is made to ensure that all initiatives undertaken by the Company have an impact on the beneficiaries in improving their lives. The initiatives shall also be replicable, scalable and sustainable on a long-term basis.
The following is an indicative list of activities or programs, which DTICI may undertake towards its CSR initiatives under this Policy and pursuant to Schedule VII of the Companies Act, 2013:
1. Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water;
2. Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;
3. 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;
4. 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;
5. 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:
6. Measures for the benefit of armed forces veterans, war widows and their dependents;
7. Training to promote rural sports, nationally recognised sports, paralympic sports and Olympic sports;
8. 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;
9. Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government
10. Rural development projects;
11. Projects which can have positive societal impact
12. Projects which are aligned with the ESG initiatives of the Daimler Truck AG Group
13. Any other measures with the approval of Board of Directors on the recommendation of CSR Committee subject to the provisions of Section 135 of Companies Act, 2013 and rules made there-under.
C. CSR Committee
The Board of Directors of DTICI have formed a Corporate Social Responsibility Committee (the “CSR Committee”) in line with section 135 of the Companies Act, 2013 (the “Act”) and the functions of the Committee are as follows:
1. To formulate and recommend to the Board a CSR policy;
2. To recommend activities to be undertaken as specified in Schedule VII of the Act;
3. To recommend the amount of expenditure to be incurred on the CSR activities;
4. To monitor the CSR policy from time to time;
5. To establish transparent controlling mechanism for implementation of the CSR projects.
The first CSR Committee of the Company consists of the following Directors: –
1. Mr. Raghavendra Vaidya, Managing Director
2. Mr. Harshavardhan Kundalkar, Director and CHRO
3. Ms. Anubha Jain, Director and CFO
D. CSR Expenditure
The budget for the CSR activities shall be decided by the CSR committee in its meeting, which will be in line with the provisions of the Companies Act, 2013.
A specific budget shall be allocated for CSR activities and spending on CSR activities shall not be less than 2% of the average net profits of the Company made during the three immediately preceding financial years, in pursuance of this policy.
The CSR Policy mandates that the surplus arising out of the CSR projects or programs or activities shall not form part of the business profit of a company.
Expenses towards CSR projects or programs or activities undertaken in India only shall amount to CSR expenditure.
CSR expenditure shall not include any expenditure on any item not in conformity or not in line with activities, which fall within the purview of Schedule VII of the Companies Act 2013.
E. Meetings of CSR Committee
· The CSR Committee shall meet at least once in a year;
· The meeting shall be held either at the registered office of the Company or any at any other place, as may be decided by the members;
· Two members personally present shall constitute the quorum.
F. Amendments to the CSR Policy
The CSR Policy can be amended with the prior permission of Board of Directors, as & when required. A proposal for making the amendment shall be prepared by the CSR Committee specifying the reasons and justifications for the amendment. The Board of Directors shall be empowered to approve the proposal, with or without modifications, or may reject the same.
The Board of Directors may also amend the CSR Policy, from time to time.