CORPORATE SOCIAL RESPONSIBILITY POLICY OF IRM ENERGY PRIVATE LIMITED

1.0 Background
IRM Energy Private Limited (“the Company” or “IRMEPL”) believes that Corporate Social Responsibility (CSR) is our commitment towards inclusive and sustainable growth. As a responsible Corporate Citizen, IRMEPL undertakes a number of CSR activities in larger interest of the community, especially in the area of health, education, women empowerment, and childcare and environment protection.
The company is operating in the Geographical areas of Banaskantha District and Gir Somnath District in Gujarat and Fatehgarh Sahib District in Punjab and its stakeholders includes farmers, students, local industries, etc.
2.0 Title and Applicability
  • IRM Energy Private Limited has developed this Policy comprising the Company’s philosophy for a being a responsible corporate citizen and lays down the principles and mechanisms for undertaking various programs in accordance with Section 135 of the Companies Act 2013 read with Companies (Corporate Social Responsibility Policy) Rules, 2014 (“the Rules”)
  • The Policy shall guide the CSR program and activities undertaken by the Company in the communities in which it operates.
3.0 CSR Vision
The vision of IRMEPL is to operate its activities in providing energy solutions to its customers in a manner that is efficient, safe & ethical, which minimizes negative impact on environment and enhances quality of life of the community, towards sustaining a holistic business.
4.0 CSR Program Areas & Objectives
The Company shall pursue the following thrust areas under this policy:
  • Ensuring environmental sustainability and ecological balance through:
    • Support and promote clean and green fuel initiative with special focus on education institutes.

    • Promoting alternate energy resources

    • Plantation drives in schools, villages, our manufacturing units & offices/business premises and other areas in general;

    • Reviving endangered plants, promoting agro-forestry;

    • Conservation of natural resources

    • Promoting biodiversity;

    • Technical support and Knowhow for improving farming and building capacities of small farmers to help them improve their per acreage yield.

  • Employment and livelihood enhancing vocational skills and projects including solar panel installation , food processing and preservation, vermi‐composting and other Life Skill Training and livelihood enhancement projects.
  • Promotion of education especially among children, women, elderly and the differently abled including:
    • Supporting children for higher education.

    • Supporting children from poor and schedules caste and tribe in higher education initiative to make them self-reliant in life.

    • Support and promote girl education for girl child students coming from needy family and from schedules caste and tribe.

    • Non-formal education programmes.

    • Supporting schools with infrastructure like benches, toilets, potable water, fans etc.

    • Supporting other educational institutions.

    • Improving educational facilities in general.

  • Promoting Health care including Preventive Health care through awareness programs, health check‐ups, provision of medicine & treatment facilities, providing pre‐natal & post‐natal healthcare facilities, prevention of female feticide through awareness creation, program for preventing diseases and building immunity. Providing clean and better quality of water in rural areas.

  • PPromoting gender equality and empowering women including:
    • Training in vocations pursued by women.

    • Setting up homes for women & orphans;

    • Setting up hostels for working and student women, day care centers for kids of working women

    • Promoting and providing credit support to women's self-help and joint liability groups.

  • Contribution or funds provided to technology incubators located within academic institutions.

  • Rural Development Projects.

  • Contribution to the Prime Minister's National Relief Fund or any other fund set up by the Central Government for socio economic development and relief and welfare of the schedule caste, tribes, other backward classes, minorities and women.

  • Other Activities:
    • Promotion of Sports with special focus on training for rural sports, nationally recognised sports,

    • Setting up public libraries

    • Reducing inequalities faced by the socially and economically backward groups

    • Protection of national heritage, art, culture and handicraft;

  • Employing people and incurring other costs to carry out aforesaid activities.

  • Such other activities as the Board may consider to be appropriate.

5.0 CSR Budget
  • The Board of Company shall ensure that in each financial year, the Company spends at least 2% of the average net profit made during the immediate three preceding financial years.

  • Promoting alternate energy resources

  • The Company may collaborate or pool resources with other organizations or companies to undertake CSR activities.

  • The surplus arising out of the CSR projects or programs or activities will be included in the CSR Corpus and shall not form part of the business profit of the company.

6.0 Implementation process
  • CSR program will be undertaken by the Company within the defined ambit of CSR policy.
  • The time period/duration over which a particular program will be spread, will depend on its nature, extent of coverage and the intended impact of the program.
  • The Company will enter into partnerships with the government, business partners and communities to create multiplier effect of its social projects.
  • The mode of implementation of CSR programs will include a combination of direct implementation and implementation through partners such as NGOs, business partners, registered trusts and societies etc. The Company will select its partners after appropriate due diligence.
  • The Company may use services of expert agencies, consultancy firms etc. wherever required for carrying out surveys, guidance on project design and implementation, impact assessment surveys etc.
7.0 CSR Governance Structure
  • Board of Directors
  • CSR Committee
  • Implementation Partners
8.0 Roles and responsibilites

The Board:

The Board of Directors of the Company will be responsibe for:
  • approval of the CSR Policy of the Company
  • ensuring that the projects included in the Policy are undertaken by the Company
  • ensuring that the Company spends in every financial year, atleast 2% of the average net profits of the Company made during the three immediately preceding financial years in pursuance pf the Policy.
  • ensuring that the Company gives preference to the local areas around its operations for spending the amount earmarked for CSR projects
  • ensuring that it specifies the reasons in its report for not spending the earmarked amount in case the Company fails to spend such amount.

CSR Committee:

1. Composition of the the CSR committee:

The composition of the CSR Committee of the Board is as under.

S. No. Name Role in the committee
1 Mr. Maheswar Sahu Chairman
2 Mr. Chikmagalur K Gopal Member
3 Mr. Vinod Jain Member

The Board shall have the power to make any change(s) in the constitition of the Committee.

2. Responsibility of the CSR Committee:

  • formulate and recommend the CSR Policy to the Board for approval.
  • monitor the Policy from time to time and recommend changes to the board
  • recommend CSR projects, which are in line with the activities specified in Schedule VII, to be undertaken by the Company
  • recommend the amount of expenditure to be incurred on CSR projects
  • constitute a transparent monitoring mechanism for ensuring implementation of the CSR projects undetaken by the Company
  • Appoint two or more concerned and dedicated persons who can design,pursue and monitor these activities effectively for the company and these persons shall have due ground level and supervisory level experience in CSR projects.
9.0 Monitoring and Reporting Framework

Project Monitoring:

TThe Company will institute a well-defined monitoring and evaluation mechanism to ensure that each CSR program has:
  • clear objectives developed out of the societal needs that are determined through research.
  • clear targets, time lines and measureable parameters wherever possible
  • a progress monitoring and reporting framework that is aligned with the requirements of the section 135 of the Companies Act and the CSR Rules.

The CSR progress monitoring authorities and the frequency of review is given below.

S. No. CSR Progress Review and Monitoring Authority Frequency of review
1 Board of Directors 1 Time
2 CSR Committee 1 Time

The Company will ensure CSR reporting annually in the format recommended in the CSR rules as part of its annual report.

10.0 REVIEW PERIODICITY AND AMENDMENT
  • CSR Plan may be revised/modified/amended by the CSR Committee at such intervals as it may deem fit in consultation with Board.
  • The CSR Committee shall review the Policy from time to time unless such revision is necessitated earlier.