Shubham Housing Development Finance Company Limited (‘SHUBHAM’ or ‘the Company’) 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, SHUBHAM will continue crafting unique models to generate livelihoods and environmental capital. Such Corporate Social Responsibility ("CSR") projects are far more replicable, scalable and sustainable, with a significant multiplier impact on sustainable livelihood creation and environmental replenishment. These initiatives are independent of the normal conduct of SHUBHAM business. Programs, projects and activities (collectively "CSR Programs") carried out in this regard are the subject matter of this Policy. The Company’s focus has always been to contribute to the sustainable development of the society, environment, and to make our planet a better place for future generations.
SHUBHAM CSR Policy intends to:
In accordance with the requirements under the Companies Act, 2013, SHUBHAM CSR activities, amongst others, will focus on:
SHUBHAM will undertake its CSR activities, approved by its CSR Committee, through the entity/organization as approved by the CSR Committee.
The surplus arising out of the CSR activities, projects or programs shall not form part of the business profit of the Company.
The CSR Committee will decide on the location for CSR activities.
Our goals include the following:
|Sl. No.||Goal Area||Actions|
|1||Hunger, Poverty, Malnutrition and Healthcare||SHUBHAM will work with various Non-Profit Organizations that mid-day meal programs in school across India and may establish kitchens that provide meals to school children.
SHUBHAM will work with organizations working in medical or health-related projects such as providing support for cancer treatment, cataract surgeries, etc.
|2||Education||SHUBHAM focus on education will be on two fronts:
|3||Rural Development||We believe that the well-being of people living in rural areas ensures sustainable development. We will work with local administrations to achieve community developments goals. We will partner with governments and NGOs and support them in improving infrastructure such as constructing roads, providing drainage systems and electricity, and rehabilitating natural-disaster-affected victims in rural areas.|
|4||Gender equality, environmental sustainability, art and culture||SHUBHAM will, among other things, focus on promoting gender equality and empowering women, ensuring environmental sustainability, ecological balance, protection of flora and fauna and protection of national heritage, art and culture including restoration of buildings and sites of historical importance.|
|5||Housing||SHUBHAM will want to drive research in low cost housing solutions as well as material and may provide financial assistance to such firms which are involved in such activities.|
The Corporate Social responsibility Committee shall be the committee as constituted by the Board of Directors of the Company for the purpose.
The responsibilities of the CSR Committee include:
The Contribution by the Company in any financial year towards CSR Activities shall be a minimum of 2 % of its average Net Profits for three immediately preceding financial years.
The CSR Committee shall recommend and Board shall ensure that the CSR activities are either undertaken by the company itself or through -
CSR committee shall be guided by the principles enumerated above for selection/shortlisting of proposals received by the Company for CSR projects and shall recommend the shortlisted projects to the Board for implementation.
CSR Committee shall ensure monitoring of projects through project reports placed before it from time to time and shall satisfy itself that the funds so disbursed have been utilized for the purposes for which funds were disbursed and shall certify the Board to this effect.
The Committee shall from time to time explore the ways and means whereby improvements that need to be brought about towards the discharge of CSR by the Company are identified and steps taken to ensure that measures necessary to effectuate the areas of improvements so identified are taken in the right earnest.
Last updated on 26.03.2021