Optimized Solutions

Corporate Social Responsibility Policy

CSR

Background and Introduction

At Optimized Solutions Limited (“OSL”), Corporate Social Responsibility (CSR) has been an integral part of the way we have been doing our business since inception. It is said that helping others makes the world a better place.

While pursuing our business we always ensure not to just continue to generate revenue for the business but also be helping hand in making society a better place.

Scope

To take an active role and responsibility in empowering local communities to achieve their ambitions focusing on environmental growth, socio - economic development, achieve positive perception of OSL in areas of operation & demonstrate leadership in Corporate Citizenship.

Applicability

This Policy shall apply to all the CSR initiative and actvities taken up at OSL, for the bene- fit of different segments of the society, specifically the deprived, under- privileged and differently abled people.

Our CSR Vision

In line with OSL's Vision, through its CSR initiatives, it will continue to enhance value cre- ation in the society and in the community in which it operates, through its services, con- duct & initiatives, so as to promote sustained growth for the society and community and continue to be a Socially Responsible Corporate, with environmental concern.

Our CSR Mission

The CSR Policy of OSL aims to achieve, consolidate and strengthen Good Corporate Gover- nance including socially and environmentally responsible business practices that balance financial profit with social well-being.

Our Values

We have always ensured commitment at all levels in the organization, to operate its busi- ness in an economically, socially & environmentally sustainable manner, while recognizing the interests of all its stakeholders.

Our Activities

The CSR activitieswe pursue will be in line with our stated Vision and Mission, focused not just around our plants and offices, but also in other geographies based on the needs of the communities .

For purposes of focusing its CSR efforts in a continued and effective manner, the follow- ing thrust Areas in line with schedule VII of the Companies Act, 2013:

  • Eradication of hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation including contribution to the Swachh Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water;
  • Promotion of education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;
  • Promotion of gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facili- ties for senior citizens and measures for reducing inequalities faced by socially and
    economically backward groups;
  • Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources and maintain- ing quality of soil, air and water including contribution to the Clean Ganga Fund Set up by the Central Government for rejuvenation of river Ganga;
  • 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;
  • Measures for the benefit of armed forces veterans, war widows and their dependents;
  • Training to promote rural sports, nationally recognized sports, Paralympics sports and Olympic sports;
  • ontribution 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;
  • Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government;
  • Rural development projects;
  • Slum Area Development i.e. any area declared as the term ‘slum area’ by the Central Government or any State Government or any other competent authority under any law for the time being in force.
  • Other activities/projects in relation to matters that are listed in Schedule VII of the Companies Act, 2013.

Implementation

CSR Committee of the Company will be responsible for the monitoring of various CSR projects or programs or activities undertaken by the Company directly by itself and/or through bodies/ institutions that carry on such activities in a manner permissible under applicable laws. The CSR Committee will meet whenever necessary and shall ensure that:

  • Company undertakes the CSR activities as provided in the CSR policy.
  • The projects/ programs are implemented as per the program approved by the Board.
  • The budget allocated for each of the project is utilized for the projects as per the approved plans.
  • The objective of the project/program is achieved as per the plans.
  • Wherever projects/programs are undertaken in partnership with one or more organiza- tions/ trust/ agencies, the part of the project or program undertaken by the Company shall be distinguishable and necessary supporting documents in respect of the same shall be obtained from the other partners/ implementing agency.

If the amount to be spent by the Company as CSR expenditure annually does not exceed Rs. 50 lakh, the requirement for constitution of the Corporate Social Responsibility Com- mittee is not applicable and the functiions of such Committee are to be discharged by the Board of Directors of the Company as per the provisions of the Companies Act, 2013. Accordingly, unless the context otherwise requires, all references to the ‘CSR Committee’ in this policy be read as ‘Board of Directors’. Furthermore, all actions to be performed by the CSR Committee be performed by the Board of Directors under such scenario.

Budgetary Allocation

The Company shall spend in every financial year, in which CSR Rules and Act applies to it, at least 2% of the average net profit of the Company made during the 3 immediately pre- ceding financial years. The Company may at its discretion allocate higher funds/amount than the amount prescribed under section 135 of the Companies Act, 2013, for the CSR activities for any financial year.

Monitoring

CSR Committee of the Company will be responsible for the monitoring of various CSR Projects or programs undertaken by the Company

  • Company undertakes the CSR activities as provided in the CSR Policy.
  • The projects/ programs are implemented as per the program approved by the board.
  • The budget allocated for each of the project is utilized for the projects as per the approved plans.
  • The objective of the project/program is achieved as per the plans.
  • Wherever projects / programs are undertaken in partnership with one or more organi- zations / trust/ agencies, the part of the project or program undertaken by the Company shall be distinguishable and necessary supporting documents in respect of the same shall be obtained from the other partners / implementing agency on an annual basis

CSR Reporting

At the end of each financial year, the CSR Committee shall prepare a report in the pre- scribed form relating to the CSR program/ activities undertaken by the Company during the year and submit to the Board for its inclusion in the Board's report.

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