CORPORATE SOCIAL RESPONSIBILITY (CSR) POLICY
Genus Innovation Limited (hereafter referred to as “GIL” or “Company” in this document) is committed towards nation and society for bringing constructive changes to the lives of mankind. GIL understands its moral, social and business responsibility to protect, preserve & nurture human values and also to promote socio-economic welfare. GIL surely believes in sharing the profits not only with its members but also with the people around it. GIL always gives preference to the local areas where it operates, for spending the amount earmarked for Corporate Social Responsibility activities.
2. CSR Vision
GIL’s CSR vision entails –
3. Objectives of the Policy
The objectives of this policy are to –
4. Scope and Applicability
5. CSR Committee
At GIL, CSR structure will be governed and headed by the Board Level CSR Committee. It will be ultimately responsible for all CSR’s programmes/activities/projects undertaken by the Company. The committee will report to the Board of Directors of the Company.
Composition of the CSR committee:
Name of the Member Position Category
Mr. Vikas Kothari Chairman Independent Non-Executive
Mr. Narayan Prasad Todi Member Whole Time Director
Mr. Amrit Lal Todi Member Non-Executive, Non-Independent
The terms of reference of the Committee inter alia, include the following:
6. CSR Budget and CSR Expenditure
The total budget for the CSR projects will be decided by the CSR Committee for an approximate sum equivalent to 2% of the average net profits of the company made during the three immediately preceding financial years, in every financial year. CSR expenditure shall include all expenditure including contribution to corpus, or on projects or programs relating to CSR activities approved by the Board on the recommendation of the CSR Committee. Any surplus arising from any CSR programmes/activities/projects shall not form part of the business profit of the Company and shall be used for CSR only. Accordingly, any income arising from CSR Programmes will be netted off from the CSR expenditure and such net amount will be reported as CSR expenditure.
7. Focus Areas
Eradicating hunger and poverty.
Environmental sustainability and ecological balance.
Relief and Restoration in times of National Calamities
The CSR Committee will identify and implement its CSR programmes/activities/projects as per the Board’s approved CSR policy. This CSR Policy is based on learning from ongoing CSR activities of the Company. The CSR Committee will implement the Company’s CSR programmes/activities/projects through Company personnel or subsidiary company or holding company or associate company or through external implementing agencies or through ‘Jai Narayan Bajrang Lal Todi Trust’ or ‘Todi Agro Foundation’, (herein after referred to as the “Trust”). In case of Trust or external implementing agencies, the CSR Committee will specify the CSR programmes/activities/projects, which may be undertaken by the Trust/agencies in accordance with their Objects and administrative and accounting processes laid down in the respective Trust Deeds/ Memorandum and Articles of Association. The CSR committee will also specify the modality of execution of CSR programmes/activities/projects and implementation schedules for the same.
9. Monitoring and Reporting Framework
Every year, the CSR Committee will present its annual budgets and list of programmes, projects, and activities to the Board for its approval. The Board will consider and approve the CSR Plan with any modification that may be deemed necessary. The monitoring and reporting mechanism is divided into three distinct areas:
I. Programme Monitoring
III. Reporting and Documentation
I. Programme Monitoring
The CSR Committee shall monitor the implementation of the CSR Policy through periodic reviews and issue necessary directions from time to time to ensure orderly and efficient execution of the CSR programmes/activities/projects in accordance with this Policy.
The Board shall evaluate the implementation and impact of the CSR Policy on yearly basis.
III. Documentation and Reporting
The CSR Committee will prepare the annual CSR report and submit it to the Board. The Company will report, in the prescribed format the details of CSR initiatives and activities of the Company in the Directors’ Report and on the website of the Company, as required under the Act and Regulations.
Animal welfare, especially of cow is very important for consumers, farmers, the veterinary profession and government, as a criterion for ensuring acceptable standards and conditions of food production. Cow has a special place in Indian society and Hindu religion. Cow also contributes to the health environment. Cow urine and cow dung is used for different purpose in their daily life and medical activities. Recognizing this, Genus since inception has been contributing a portion of its income to ‘Rajaldesar Gaushala’, Rajaldesar (Rajasthan), which provides protective shelters for cows. Here, cows are cared warmly and fed with healthy stapple. It provides favorable environment and proper medical facilities to ill cows.
The Company has assisted in setting up of a naturopathy centre named as ‘Baldev Agarwal Naturopathy Centre’ in Moradabad, whose main objective is to deliver the services for healthy life to every class of people at very nominal rates. The main intent of this organization is to provide Holistic body treatment that purifies, rejuvenates and heals for perfect balance between your mind, body and soul & keeps you connected with the nature. Company’s mainly aims to encourage traditional and drugless sources of treatment which will help people lead healthier lives.
This Naturopathy center will provide relief, prevention and cure of specific diseases through a non- invasive therapy which combines nature cure with yoga and other drugless regimens; namely, diet therapy, physiotherapy, acupuncture which will reduce the crowd level at Hospitals and also brings down the Health Maintenance Cost almost up-to single penny a day.
The Company had made their contributions to a well known trust named Rajasthan Vanvasi Kalyan Parishad (Udaipur) for its “SINGLE TEACHER” school programme that facilitates Corporate Social Responsibility.
Ekalavya Vidhya Mandir (Single Teacher School):
In the far reaching areas of the tribal belts Vanvasi Kalyan Parishad has designed “SINGLE TEACHER” school programme. To help in building all-round personality and character of the children to sow the seeds of nationality and full participation of local people in economic, social, cultural and ethical awareness, these centers have been set-up in the remote villages.