Striving to do our bit for society
1.Objective of Corporate Social Responsibility:
Unichem has engaged in Corporate Social Responsibility [CSR] activities for decades and much before the same became a mandatory responsibility of Corporates.Unichem being a pharmaceutical company is naturally inclined to improve the health of general public at large and the Company is well known for its Quality and Reliability over the years. Health and Education of economically backward communities have always been prioritized by Unichem.
- Promoting health-care including preventive health-care and sanitation mainly in the economic backward sections
- Promoting education with primary focus on under privileged children in the backward areas
- Making available safe drinking water
- Training to promote recognized sports for children and
- Promoting projects under Swachh Bharat Abhiyan
The above mentioned CSR initiatives focus on recognized activities mentioned in Schedule VII of the Companies Act, 2013, as amended from time to time.
The Company would undertake other need based activities in compliance with Scheduled VII of the Companies Act, 2013.
3.Terms of reference of the committee:
(i) To Formulate and recommend to the Board, a Corporate Social Responsibility Policy and any revisions thereof which shall indicate the activities to be undertaken by the company as specified in Schedule VII;
(ii) To Recommend the amount of expenditure to be incurred on the activities referred to in clause (i); &
(iii) To Monitor the Corporate Social Responsibility Policy of the company from time to time.
4.Implementation, Review and Reporting:
The approved CSR programme will be monitored and implemented by CSR Committee with the assistance of designated Senior Executives of the Company.
Once in six months or at such intervals as desired by the CSR committee, the above CSR activities will be reviewed and monitored by the Committee and a report on the CSR activities undertaken shall be placed before the Board by the CSR Committee.
The CSR Policy shall be periodically reviewed and appropriately revised by the CSR Committee.
Minimum of two (2%) of the Average Net Profit (before tax) of the preceding three years will be allocated every financial year for CSR activities. Any reasons for non spending of the amount allocated to CSR shall be explained in the Report to the Shareholders.
Any unspent/unutilized CSR allocation of a particular financial year, may, at the joint discretion of the CSR Committee and the Board of Directors of the Company be carried forward to the following year.
This Policy has been amended, approved and adopted by the Board of Directors at their meeting held on March 31, 2018 .