Introduction
The Board of Directors (the “Board”) of Bluechip
Corporate Investment Centre Private Limited (the “Company”) has
adopted the following policy and procedures with regard to Corporate
Social Responsibility. The Board may review and amend this policy
from time to time subject to the recommendations of Corporate Social
Responsibility Committee.
Policy Objective & Philosophy
It is pertinent that business enterprises are economic organs of
society and draw on societal resources. Bluechip Corporate Investment
Centre Private Limited believes that in the strategic context of business,
enterprises possess, beyond mere financial resources, the
transformational capacity to create game-changing development models
by unleashing their power of entrepreneurial vitality, innovation and
creativity. In line with this belief, the Company will continue
crafting unique models to create a better society. Such Corporate
Social Responsibility ("CSR") projects are far more
replicable, scalable and sustainable, with a significant multiplier
impact on sustainable livelihood creation and working for a cause of
humanity.
Policy
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To direct CSR’s Programmes, inter alia, towards achieving one or more of the
following - enhancing environmental and natural capital; supporting
rural development; promoting education including skill development;
promoting healthcare including preventive healthcare &
sanitation and drinking water; creating livelihoods for people,
especially those from disadvantaged sections of society, in rural
and urban India and preserving and promoting sports;
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To engage in affirmative action/interventions such as skill building
and vocational training, to enhance employability and generate
livelihoods for persons including from disadvantaged sections of
society;
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To pursue CSR Programmes primarily in areas that fall within the
economic vicinity of the Company's operations to enable close
supervision and ensure maximum development impact;
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To contribute or provide funds to such organization/trust/society
which undertakes the activities in the field of environmental
sustainability, protection of flaura and fauna and animal welfare;
Implementation
To implement the Company's CSR Programmes through Company personnel
or through Charitable Trust or through external implementing agencies
or other Registered Trusts / Society or a Section 8 company that are
established or that may be established by the Company or its
holding/subsidiary/associate Company from time to time. In such
cases, the Company will specify the CSR Programmes which may be
undertaken by those Trusts/Societies or Section 8 companies in
accordance with their objects and administrative and accounting
processes laid down in the respective Trust Deeds/ Memorandum and
Articles of Association.
Governance
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Every year, the CSR Committee will place for the Board's approval, a
CSR Plan delineating the CSR Programmes to be carried out during the
financial year and the specified budgets thereof. The Board will
consider and approve the CSR Plan with any modification that may be
deemed necessary.
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The CSR Committee will assign the task of
implementation of the CSR Plan within specified budgets and
timeframes to such persons or bodies as it may deem fit.
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The persons/bodies to which the implementation is assigned will
carry out such CSR Programmes as determined by the CSR Committee
within the specified budgets and timeframes and report back to the
CSR Committee on the progress thereon at such frequency as the CSR
Committee may direct.
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The CSR Committee shall review the implementation of the CSR
Programmes periodically and issue necessary directions from time to
time to ensure orderly and efficient execution of the CSR Programmes
in accordance with this Policy.
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The CSR Committee will review periodically and keep the Board
apprised of the status of the progress of implementation of the
approved CSR Programmes.
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At the end of every financial year, the CSR
Committee will submit its report to the Board.
CSR Expenditure
CSR expenditure will include all expenditures that may be permitted
under the applicable laws, including contribution to corpus for CSR
Programmes approved by the Board on the recommendation of its CSR
Committee, but does not include any expenditure on an item not in
conformity or not in line with activities which fall within the
purview of Schedule VII of the Act.