Government of India recognized "2 Star Export House".
1.1. Ajay Industrial Philosophy
Since its foundation, Ajay Industrial Corporation Limited has continuously evolved into the business of manufacture of products and trading in all types of plastics, polymers, elastomers and their products including various types of C-PVC pipes & profiles, drip & micro irrigation system, C-PVC pipes & fittings, PVC doors & windows & their accessories, Rigid PVC pipes, Casing and strainers, PVC hose, various types of hand pumps. The Company was incorporated as a private company under the Companies Act, 1956 and after a period was converted into the Public company.
We never lose sight of our responsibility to the environment and society. Our commitments towards Corporate Social Responsibility include but not limited to, promotion of education and healthcare, energy and climate change, and betterment of the society and the environment, acting with integrity and accountability and operating responsibly and sustainably.
1.2. CSR in India
Corporate bodies’ involvement in CSR activities is not a new concept in India. Industrial majors are engaged in social development activities since long back. However, the Companies Act, 2013 has brought it under the legal purview. The concept of CSR is introduced through “Comply-or-Explain” mandate. It mandates qualifying companies to constitute Corporate Social Responsibility Committee to effectively monitor CSR activities of the Company. Further the Companies (Corporate Social Responsibility Policy) Rules, 2014 (hereinafter referred to as “the CSR Rules”) lay down the framework and modalities for carrying out CSR activities which are specified in Schedule VII of the Act.
2. OBJECTIVE AND SCOPE
The main objective of the CSR Policy is to lay down guidelines for Ajay Industrial Corporation Limited (hereinafter referred to as ‘the Company’) to make CSR as one of the key focus areas to adhere to Ajay Industrial interest in environment and society that focuses on making a positive contribution to society through effective impact and sustainable development programs.
This Policy covers the proposed CSR activities to be undertaken by the Company and ensuring that they are in line with Schedule VII of the Act as amended from time to time. It covers the CSR activities which are being carried out in India only and includes strategy that defines plans for future CSR activities.
2.2. Scope & Coverage
The CSR activities of the Company shall include, but not limited to any or all of the sectors/activities as may be prescribed by Schedule VII of the Companies Act, 2013 amended from time to time. Further, the Company will review the sectors/activities from time to time and make additions/ deletions/ clarifications to the above sectors/activities.
3. CORPORATE SOCIAL RESPONSIBILITY (CSR) COMMITTEE
Pursuant to the provisions of Section 135 of the Act, the Board of Directors shall constitute the Corporate Social Responsibility (CSR) Committee. The Members of CSR shall be appointed by the Board of Directors of the Company which must consist of at least two or more Directors. Accordingly, the constitution of CSR Committee formed by Ajay Industrial Corporation Limited is as follows:
|Sl. No.||Name of the member||Designation in committee||Designation in Ajay Industrial|
|1||Mr. Sharat Chand Jain||Chairperson||Managing Director|
|2||Mr. Akhil Jain||Member||Director|
|3||Mr. Rohit Sudhir Kumar||Member||Director|
3.2. Functions and Powers of Committee
To effectively implement the objectives of the Company with respect to CSR, the Committee is vested with the following functions and powers:
3.3. Meetings of the Committee
For smooth functioning of the Committee, the members shall meet as below to discuss such matters and to take such decisions as may be necessary;
4. CSR SPEND
The Companies Act, 2013 prescribes that the companies which meet the criteria specified U/s. Sec. 135 shall allocate certain portion of its annual net profits (calculated as per Sec. 198) during the three immediately preceding financial years to be spent on CSR Activities that fall under the categories specified under Schedule VII of the Act.
4.1. CSR EXPENDITURE
Net profit for the purpose of allocation towards CSR means profit more fully described under Rule 2(f) of the CSR Rules. The CSR expenditure shall include all expenditure including contribution to corpus or on projects or programs relating to CSR activities approved by the Board of Directors 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 stated under Schedule VII of the Act.
4.2. FAILURE TO SPEND THE CSR MONEY
If the Company fails to spend the required amount in a particular financial year, it is the duty of the Committee to submit a report in writing to the Board of Directors specifying the reasons for not spending the amount, which in turn shall be reported by the Board of Directors in their Annual Report pertaining to that particular Financial Year.
Surplus, if any, arising out of the CSR projects or programs or activities shall not form part of the business profit of the Company.
5. CSR INITIATIVES
Pursuant to Schedule VII of the Act and the CSR Rules, the Company shall undertake CSR activities included in its Annual CSR Plan, as recommended by the CSR Committee at the beginning of each year. The Committee is authorized to approve any modification to the existing Annual CSR Plan or to propose any new program during the financial year under review.
5.1. Annual CSR Plan
The Annual CSR Plan is a yearly plan of CSR activities that would be placed before the Board of Directors of the Company based on recommendation of its CSR Committee which outlines inter alia the following aspects of CSR initiatives of the Company:
It is expressly allowed under the CSR Rules that the Company may collaborate with any other Company or association formed in this regard subject to approval by CSR Committee, to implement CSR activities and the same shall form a part of the Annual CSR Plan.
5.3. Disqualifying Activities for CSR
6. REPORTING AND PUBLICATION OF CSR POLICY
As per the CSR Rules, the contents of the CSR Policy shall be included in the Directors’ Report and the same shall be displayed on the Company’s website, if any.
7. POLICY REVIEW AND FUTURE AMENDMENT
The administration of the CSR Policy of the Company and the execution of identified CSR projects, programs and activities under it shall be carried out under the control and overall supervision CSR Committee.
Further, the Board of Directors may revise/ amend this CSR Policy based on the recommendations of the CSR committee or to bring the same in line with the guidelines or amendments issued from time to time by Government on the subject
For enquiries related to the CSR initiatives, please contact us at:
Ajay Industrial Corporation Limited
B-II/29, Mohan Co- Operative Industrial Area, Badarpur, New Delhi - 110001
Tel: +91 9654675504, E-mail: email@example.com
CASING & SCREEN PIPES