The Board of Directors (the “Board”) of Glass Wall Systems (India) Private Limited (the “Company” or “GWSIPL”), are committed to operate and grow its business in a socially responsible manner. Objective of this policy is to articulate the philosophy/values of the company towards social responsibility and to define areas chosen by the company to impact the society with its efforts towards Corporate Social Responsibility (“CSR”) and to define the governance and monitoring framework for ensuring effectiveness of the policy.
The Companies Act, 2013 (“the Act”) read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 (“the Rules”) and Schedule VII to the Act provides a framework for the companies falling within the purview of the Act, to undertake any one or more of the activities as laid down there under and to the discharge their responsibility towards the society in general. Further, the Act also provides instructions/ agencies eligible for the implementation of CSR activities, through which companies may spend their funds assigned for CSR.
We will strive to implement the aforesaid CSR activities on our own to the extent possible.
However, the implementation of our CSR activities would continue to be in association with
Sanyam Life Foundation and various organization which are registered as a Trust or a section 8
company under the Companies Act, 2013 or Society or NGOs or any other form of entity
incorporated in India that specialize in the aforesaid activities.
However, these entities shall have an established track record of 3 years of undertaking such or similar projects/programs.
The following activity shall not form part of the CSR activities of the Company:-
The corpus for the purpose of carrying on the aforesaid activities would include the followings:
The CSR Committee will provide regular progress report to the Board. This report would indicate:
The CSR Policy would be subject to revision/amendment in accordance with the guidelines as may be
issued by the Ministry of the Corporate Affairs from time to time, on the subject matter.
In any case, the CSR Committee shall review the Policy every year once for making suitable amendments for the better implementation of the Policy. The Company reserves its rights to alter, modify, add, delete or amend any of the provisions of this Policy.
The power to interpret and administer the Policy shall rest with the Chairman of the CSR Committee whose decision be final and binding. The Chairman is also empowered to make any supplementary rules/orders to ensure effective implementation of the Policy. These will, however, be reported to or tabled before the Board, from time to time, to ensure Board’s oversight on these issues.
The Annual Report of the Company include a section on CSR outlining the CSR Policy, CSR committee, CSR initiatives undertaken by Company, the CSR spend during the financial year and other information as required by the prevailing law.