PREAMBLE
IHHR Hospitality Ananda Private Limited (herein after referred as ‘Company’), has always been at forefront of Voluntary CSR and long-term CSR goal is “to uplift the living standard of deprived section of Society and create value for all stakeholders”. The provisions of the Companies Act, 2013 have made it imperative to institutionalize the CSR activities. The objective of Company’s CSR policy is to lay down the guiding principles for proper functioning of CSR activities to attain sustainable development of the society around the area of operations of the Company. Our social responsibility policy will remain focused on using the capabilities of business to improve lives and contribute to sustainable growth and development of weaker section of society. The company shall strive to positively impact and influence its employees and partners in fostering a sense of social commitment for their stakeholders.
PURPOSE
Company’s focus areas for developmental activities will be in urban as well as rural areas in the states in which it is operated. While the Company will ensure that all communities benefit from its CSR activities, the focus will be on those groups that are socially and economically marginalized. These would include women, girl children and scheduled castes and tribes.
CSR FOCUS AREA
The Company has identified the following focus areas for its CSR Programmes:
1. Promote education, including special education and employment enhancing vocational skills and livelihood enhancement projects
2. Promoting gender equality, empowering women, setting up schools, hostels and cafeterias for underprivileged.
3. Skill development, Educational Advancement of Society, Protection of endangered species, reforestation, cleanliness, and sanitation.
4. Conduct research work and set up research center for expanding knowledge and creating awareness on Health, Naturopathy, Yoga, Ayurveda, Healing, Unani, Homeopathy, Ancient sciences of India including ancient scriptures & texts of India, nature cure or any other medicinal or healing system and to grow, nurture and develop or conduct research using common and rare species of medicinal plants.
IMPLEMENTATION
CSR efforts of the company will be implemented by an in-house CSR department through “Ananda Spa Foundation”, Section 8 Company promoted by the Company. The Company will also partner with credible organizations – individually or as a consortium – to design, fund, implement and review projects in line with the Provisions of the Companies Act, 2013 and Rules thereunder.
ORGANISATIONAL SETUP
a. The CSR projects in the Company shall be implemented under the guidance of the CSR Committee.
b. The CSR Committee of the Board shall have the following responsibilities.
i Formulate and recommend CSR policy to the Board for approval.
ii Recommend for approval of the Board the amount of expenditure to be incurred on the activities in a financial year along with projects to be undertaken earmarking funds for broad area-wise projects.
iii Monitor from time to time the implementation of the CSR projects undertaken by the Company.
BUDGET
The Company shall, in every financial year, spend at least 2% of the average net profits of the Company made during the three immediately preceding three financial years on its CSR activities as per the provision of Companies Act, 2013. CSR Budget shall be allocated for each financial year with the approval of the Board of Director on the recommendation of the CSR Committee. Every endeavour shall be made to spend the entire annual CSR budget in that year itself. However, the unspent CSR amount, if any, would be transferred in accordance with the Companies Act 2013.
MONITORING MECHANISM
The CSR Committee shall be responsible for monitoring of CSR activities at every stage on day-to-day basis. They shall keep track of the progress of the CSR activities on a regular basis through status check from implementing agency and also obtain feedbacks from the targeted beneficiaries.
REPORTING
a. The contents of the CSR Policy shall be disclosed in the Director’s Report. It shall also be placed on the Company’s website in the prescribed format. It shall include the following:
i A brief outline of the CSR Policy, including overview of projects undertaken and a reference to the web link to the CSR policy and projects.
ii Composition of the CSR Committee.
iii Average net profit for last three Financial Years and the Prescribed CSR Allocation (Budget).
iv The details of amount spent on CSR during the financial year in the prescribed format.
v In case Company fails to spend the 2% of average net profit of the last three FYs or any part thereof, the Report shall disclose reasons for the same.
b. The report would be signed by Director or Chairman of the CSR Committee.
REVIEW OF POLICY
This CSR policy document will be reviewed from time to time and any changes, if necessary, will be approved by the CSR Committee and the Board.
MISCELLANEOUS
Company reserves the right to modify, cancel, and / or amend any of the provisions of this policy in accordance to the prevailing statute.
Notwithstanding any clause in this Policy, no action pertaining to CSR activities shall be taken in contravention of the provision of Section 135 of the Companies Act, 2013 and of the Companies (Corporate Social Responsibility Policy) Rules, 2014.
This policy has been framed in compliance to the provisions of Section 135(3)(a) of the Companies Act, 2013 and Section (6) of the Companies (CSR) Rules, 2014.
Board of Directors approved the above stated CSR Policy on 13.06.2024.