CSR Policy

M/s OM STEEL TUBES LIMITED has developed a CSR Policy (hereinafter referred to as Policy) in alignment with its objective, principles and values, for delineating its responsibility as a socially and environmentally responsible corporate citizen. The Policy lays down the principles and mechanisms for undertaking various programs in accordance with Section 135 of the Companies Act 2013.

 

M/s OM STEEL TUBES LIMITED’s diverse projects and operation shall touch lives of people in many ways. It envisions to create value by helping in overall and holistic development of communities across multiple geographies. Through its various initiatives, OM STEEL TUBES LIMITED endeavours to play an important role by serving the society

 

VISION

Under the CSR vision of “Global Harmony with People, Society and Environment,” OM STEEL TUBES LIMITED strives to build a society where people, society and the environment coexist in harmony. The aim is to create positive change for people everywhere, helping them to live a better life full of possibilities, while preserving the environment. In an effort to promote sustainable social development and better quality of life.OM STEEL TUBES LIMITED shall endeavour to reach out to underserved individuals around the local area first and there after broadening its horizon to various parts of the country, carrying out various social responsibility activities for local communities

CSR ACTIVITIES

OM STEEL TUBES LIMITED plans to support and assist various CSR activities in the following areas:-

a)

Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water.

b)

Promoting education, including special education and employment enhancing vocation skills especially among children, women elderly, and the differently abled and livelihood enhancement projects. Providing stationary school uniforms, safe drinking water  in schools. 

c)

Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources and maintaining quality of soil, air and water.

d)

Contribution to the Prime Minister’s National 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.

e)
Promoting sports like badminton, cricket, hockey etc. sponsoring financial weak state level and national level sportspersons, providing necessary kits and instruments.
f)
Organizing Blood Donation Camp/ health check-up and eye camp and providing free medicines and free cataract surgeries jointly with such organisations which are expert in the field.
g)
Special attention on education, training and rehabilitation of mentally & physically challenged children/persons.

The Board may amend the Policy as may be required from time to time.

IMPLEMNTATION

To implement the Company’s CSR Programmes through Company personnel or through Charitable Trust or through external implementing agencies or other Registered Trusts / Society.

GOVERNANCE

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.

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.

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.

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.

The CSR Committee will review periodically and keep the Board apprised of the status of the progress of implementation of the approved CSR Programmes.

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.

CONTRIBUTION TOWARDS CSR ( BUDGET):

OM STEEL TUBES LIMITED will spend atleast 2% of the average net profits made by the company during the three immediately preceding Financial Years.

The unspent CSR in a particular year will be carried forward to the next year for CSR activities only.