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Corporate Social Responsibility Policy

PREAMBLE

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.

1. OBJECTIVES

SHUBHAM CSR Policy intends to:

  • Strive for economic development that positively impacts the society at large with minimal resource footprint.
  • Embrace responsibility for the Company’s actions and encourage a positive impact through its activities on hunger, poverty, malnutrition, environment, communities, stakeholders and the society.
  • 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.

2. FOCUS AREA

In accordance with the requirements under the Companies Act, 2013, SHUBHAM CSR activities, amongst others, will focus on:

  • HUNGER, POVERTY, MALNUTRITION AND HEALTH: Eradicating extreme hunger, poverty and malnutrition, promoting preventing healthcare and sanitation and making available safe drinking water.
  • EDUCATION: Promoting educating, including special education and employment-enhancing vocational skills especially among children, women, elderly and the differently abled, and livelihood enhancement projects; monetary contributions to academic institutions for establishing endowment funds, chairs, laboratories, etc., with the objective of assisting students in their studies.
  • RURAL DEVELOPMENT PROJECTS: Strengthening rural areas by improving accessibility, housing, drinking water, sanitation, power and livelihoods, thereby creating sustainable villages.
  • GENDER EQUALITY AND EMPOWERMENT OF WOMEN: Promoting gender equality and empowering women; setting up homes, hostels and day care centers for women and orphans; setting up old age homes and such other facilities for senior citizens; and adopting measures for reducing inequalities faced by socially and economically backward groups.
  • ENVIRONMENTAL SUSTAINABILITY: Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro-forestry, conservation of natural resources and maintaining the equality of soil, air and water.
  • NATIONAL HERITAGE, ART AND CULTURE: Protecting national heritage, art and culture including restoration of buildings and sites of historical importance and work of art; setting up public libraries; promoting and developing traditional art and handicrafts.
  • 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.

3. UNDERTAKING CSR ACTIVITIES

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.

4. LOCATION OF CSR ACTIVITIES

The CSR Committee will decide on the location for CSR activities.

5. GOALS

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:
  1. To train students from under privileged backgrounds in its various development centers.
  2. Provide grants to various colleges in India for improving their infrastructure. Sponsor chairs and create endowment funds for the colleges/universities to assist students with their studies.
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.

6. CSR COMMITTEE:

The Corporate Social responsibility Committee shall be the committee as constituted by the Board of Directors of the Company for the purpose.

7. RESPONSIBILITIES OF THE COMMITTEE:

The responsibilities of the CSR Committee include:

  • Formulating and recommending to the Board of Directors the CSR Policy and indicating activities to be undertaken.
  • Recommending the amount of expenditure for the CSR activities, and
  • Monitoring CSR activities from time to time.

8. CSR CONTRIBUTION

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.

9. GOVERNANCE

The CSR Committee shall recommend and Board shall ensure that the CSR activities are either undertaken by the company itself or through -

  1. a company established under section 8 of the Act, or a registered public trust or a registered society, registered under section 12A and 80 G of the Income Tax Act, 1961 (43 of 1961), established by the company, either singly or along with any other company, or
  2. a company established under section 8 of the Act or a registered trust or a registered society, established by the Central Government or State Government; or
  3. any entity established under an Act of Parliament or a State legislature; or
  4. a company established under section 8 of the Act, or a registered public trust or a registered society, registered under section 12A and 80G of the Income Tax Act, 1961, and having an established track record of at least three years in undertaking similar activities.

10. FUNDING, SELECTION AND MONITORING PROCESS

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.

11. OVERALL IMPROVEMENT IN FUNCTIONING AND IN DISCHARGE OF CSR

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