This Corporate Social Responsibility (hereinafter referred to as “CSR Policy”) is framed in terms of the Companies Act, 2013 (hereinafter referred to as the “Act’) read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 (“CSR Rules”) as amended from time to time.
PHILOSOPHY: Invenire Petrodyne Limited (hereinafter referred to as “IPL”) recognizes that business enterprises are economic organs of society and draw on societal resources. It is IPL’s belief that a company’s performance is measured by its Triple Bottom Line contribution towards building economic, social and environmental capital. IPL believes that in the strategic context of business,enterprise possess beyond mere financial resources, the transformational capacity to create game changing business models by unleashing their power of entrepreneurial vitality, innovation and creativity. In line with this belief IPL will continue crafting unique models which have a significant multiplier impact on sustainable livelihood creation and environmental replenishment. IPL is committed to contributing to the improvement in the quality of life of individuals and empowerment of institutions which serve the community. The mission of IPL is to enhance the long term shareholder value in the environment.
Programmes, projects and activities (hereinafter collectively referred to as “CSR Programmes) carried out in this regard are the subject matter of this Policy. These initiatives are independent of normal conduct of company’s businesses and are aligned to the activities listed in Schedule VII read with Section 135 of the Act and CSR Rules.
RESOURCES: IPL shall provide the resources as required by various Trusts, NGOs, Society and organization to promote activities, projects and programmes as identified by the CSR Committee. IPL’s CSR activities include educational support, medical assistance, water reservation and other relevant subjects of public utility and advancement. IPL will also endeavour to increase the scope of its activities to include activities as defined by the Group as “Focus Initiatives” viz. Skills Development, Renewable Energy, Education, Governance, and such other permissible CSR activities under extra- ordinary situation introduced by the Government from time to time.
In addition, response to any disastershall be, either as a Company or as a part of the group, depending upon where they occur and our own ability to respond meaningfully.
CSR Programmes identified will be carried out either by IPL or through contribution to various trusts and will require regular reporting and monitoring of CSR team with regular field visits. The monitoring process will cover both programme and financial reviews. The CSR Committee will receive a progress report of all CSR activities of IPL.
COMPOSITION OF CSR COMMITTEE:
The members of CSR Committee are as follows: