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CSR

Introduction
M/s SAJ Food Products (P) Ltd. is a leading producer of Healthy, Nutritious, Wholesome and Tasty Food Products. Under the brand “BISK FARM” produces Biscuits, Cakes, Cookies, Rusks, Extruded Snacks, Indian Snacks, Wafers, Freshly Baked Savouries, Danishes, Special Cakes, Pastries, Breads and other Confectionery items. As a Corporate entity we feel both the desire and the obligation to be a reliable partner for society and committed to undertake CSR activities in accordance with the provisions of Section 135 of the Companies Act, 2013 and read together with the Companies (Corporate Social Responsibility Policy) Rules, 2014.

CSR Projects and Programmes
The Company shall undertake specific corporate social responsibility (“CSR”) projects and programmes, as approved from time to time by the Board in its capacity as the CSR Committee of the Company, within the following CSR categories:
Activities relating to:-

  • Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water;
  • Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently able and livelihood enhancement projects;
  • Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups;
  • Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water;
  • Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promoting and development of traditional arts and handicrafts;
  • Measures for the benefit of armed forces ventures, war widows and their dependents;
  • Training to promote rural sports, nationally recognized sports, paralympic sports and Olympic sports;
  • 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 Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women;
  • Contribution or funds provided to technology incubators located within academic institutions which are approved by the Central Government;
  • Rural development projects.
In furtherance of specific CSR projects or programmes, the Company may collaborate with NGOs and other like-minded stakeholders, including other companies, registered trusts and societies, in order to leverage upon the collective expertise, wisdom and experience.

Budget
In accordance with CSR Requirements, the Company shall seek to spend annually 2 per cent of the average net profits of the Company, made during the three immediately preceding financial years, on specific CSR projects and programmes. The Company shall take steps to ensure that any surplus arising out of the Company 's CSR projects and programmes or activities shall be set aside for later use in CSR projects and programmes and in no event shall form part of the Company 's business profits.

Function of Board and CSR Committee
The Company's CSR projects and programmes shall be overseen by a separately designated CSR committee of the Board, provided, however, that so long as the Board consists of two directors, such CSR committee shall consist of both directors (hereinafter, the “Committee”).

Implementation
The Company's CSR programmes will be identified and implemented according to the Board's approved CSR policy. The CSR Programmes which may be undertaken in accordance with their Objects and administrative and accounting processes laid down in the respective Memorandum and Articles of Association. The Company will enhance its monitoring and evaluation mechanism so as to ensure every programme has:

  • Clearly defined objectives (developed out of existing societal needs determined through baselines/studies/research), targets and time lines.
  • A robust progress monitoring system.
  • Impact assessments.
  • A reporting framework and system in alignment with the Act and Rules.

Monitoring and Reporting
CSR Committee of M/s SAJ Food Products Private Ltd shall monitor the implementation of the CSR Policy through periodic reviews of the activities. The head of CSR Wing will present its annual budget and list of programmes, projects, and activities to the CSR Committee for its approval. The Committee will then after due consideration recommend this to the SAJ Food Products Private Ltd Board for its approval. In compliance with the Act and to ensure funds spent on CSR programmes are creating the desired impact on the ground a comprehensive Monitoring and Reporting framework will be put in place.

Documentation and Reporting
The CSR Committee will prepare the annual CSR report to be filed by the Company on approval of the Board. This report will ensure:

  • CSR projects and programmes are being properly documented.
  • An MIS is maintained on expenditure across sectors and geographies and beneficiaries impacted. The MIS structure will be in alignment with the prescribed reporting format.
  • Accountability is fixed at each level of CSR process and implementation.
A repository of case studies and good practices is being maintained

Amendments to the Policy
The Board of Directors on its own and/or as per the recommendations of CSR Committee can amend this Policy, as and when required as deemed fit. Any or all provisions of the CSR Policy would be subject to revision/amendment in accordance with the Regulations on the subject as may be issued from relevant statutory authorities, from time to time. The decision of the Board of Directors on all matters, relating to this Policy, shall be final and binding upon all concerned. This Policy is subject to continuous review and updates as may be required from time to time.






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