1.INTRODUCTION
Corporate Social Responsibility (CSR) is the Company’s commitment to its stakeholders to conduct business in an economically, socially and environmentally sustainable manner that is transparent and ethical.
The Corporate Social Responsibility (‘CSR) Policy of MS Solvex Private Limited has been developed in accordance with Sec. 135 of the Companies Act, 2013 and the Companies (Corporate Social Responsibility) Rules, 2014 (hereby collectively referred to as the ‘Act’) notified by the Ministry of Corporate Affairs, Government of India. The same has been displayed on the Company's Website: http://www.mssolvex.com.
The CSR vision of the Company is to build relationships of trust with local communities, society and stakeholders as good corporate citizens and to contribute to developing a sustainable society for future generations.
2.AIMS & OBJECTIVES
To develop a long-term vision and strategy for MS Solvex Private Limited CSR objectives Establish relevance of potential CSR activities to core business and create an overview of activities to be undertaken, in line with Schedule VII of the Companies Act, 2013.
3.MS Solvex Private Limited shall promote CSR activities that are
The CSR Projects/Programs undertaken for the Financial Year April 01, 2024 to March 31, 2025 were conceived and implemented through a focused approach towards target beneficiaries for generating maximum impact.
The major thrust area of CSR Policy are Promoting Health Care, Development in Rural Areas, Empowering Women, Undertake Environmental Friendly Measures like Tree Plantation, Rural / Agricultural extension / Development Projects, mainly in and around the geographical areas where Company's plant / businesses are located.
Company’s project for the establishment of a Drinking Water Plant has been completed in this year.
In this year company has commenced some activities with Gram Panchayat for providing amenities to City Hospital, Neemuch and Primary Schools of the area.
4. CSR COMMITTEE
The Corporate Social Responsibility Committee shall consist of at least 2 directors.
The current members of the CSR committee are as follows-
• Manish Kumar Chopra
• Naveen Chand Agrawal
5.CSR FUND
The committee shall endeavor to spend 2% of the average net profit during the preceding 3 financial years on CSR activities as enumerated above.
6.DUTIES & RESPONSIBILITIES OF THE BOARD
Institute a transparent mechanism for implementation of the CSR projects and activities. Effectively monitor the execution of the CSR activities. Formulate and recommend the CSR activities/programs. Approve the CSR Policy and the CSR Expenditure after taking into consideration the recommendations made by the Board. Ensure the CSR spending every financial year of at least 2% of average net profits made during immediately preceding 3 financial years, in pursuance with the Policy. Ensure disclosure of the contents of the CSR Policy on the MS Solvex Private Limited website.
Preparation of annual report on the CSR in the prescribed format as per the Companies Act, 2013.
7.CSR EXPENDITURE
In every financial year, MS Solvex Private Limited shall spend 2% of its average Net Profits in the immediately preceding three (3) financial years. CSR Expenditure shall mean all expenditure incurred in respect of specific projects/programs relating to the approved CSR activities. CSR Expenditure shall not include expenditure on an item not in conformity or not in line with activities which fall within the purview of the CSR activities listed in above. The surplus arising out of the CSR activities or projects shall not form part of the business profit of MS Solvex Private Limited.
8.IMPLEMENTING CSR ACTIVITIES
The implementation and execution of the CSR activities/projects shall be carried out by the Board of Directors of the MS Solvex Private Limited, Company itself. The initiatives undertaken may be communicated to the employees through specific awareness campaigns, so as to enable maximum participation.
9.CSR REPORTING
The Board in its Annual Report shall include the details of the CSR activities undertaken in the Financial Year.
The Board of Directors shall provide an annual report on the implementation and monitoring of the CSR Policy and that it is in compliance with CSR objectives of MS Solvex Private Limited, which statement shall form part of the Boards’ Report.
MS Solvex Private Limited shall display on its website (www.mssolvex.com) the contents of its CSR Policy and other information as may be required to be displayed.
10.AMENDMENTS
The Policy may be reviewed and amended from time to time.
11.DISCLOSURE
All disclosures, display and reporting requirement related to CSR shall be made in accordance with the provisions of the Act and Rules made thereunder.
