corporate and social responsibility policy

Introduction

As an integral part of our commitment to Good Corporate Citizenship, we believe in actively assisting in improvement of the quality of life of people in communities, giving preference to local areas around our business operations. It believes that Integrating Social, environmental and ethical responsibilities into its governance system not only ensure long term success, Competitiveness and sustainability of its business but also helps the Community to meet its need and growth.

Policy objectives

The main objective of CSR policy of Jain Metal Group is :

• To lay down guidelines to make CSR a key business process for sustainable development of the society.
• To Serve by way of improving quality, and developing capacity in the area of education, health & Sanitation, sustainable livelihood, socially underprivilege, Mentally and Physically underprivilege, animal welfare, environment Protection, promoting sports & games, drinking water etc. in accordance with the framework of its policy.
• To directly/indirectly undertake projects/programs which will enhance the quality of life and economic well-being of the communities in and around our sites and society at large.
• To generate goodwill and recognition among all stake holders of the company.
• To contribute for research and development in the area of Science, Arts, Literature, management skills and humanitarian.
• The scope of the CSR activities of the Company will be confined to the activities mentioned in the Schedule VII of companies Act 2013.

CSR Committee

CSR Committee shall be formed as per the applicable laws and the committee shall be responsible for the implementation/monitoring and review of this policy and various projects/activities undertaken under the policy. The CSR Committee shall submit periodical reports to the board of directors.

Name of Members :

Mr. Kamlesh Jain, Director (Chairman of the Committee)

Mr. Mayank Pareek, Director (Member of the Committee)

Mr. Sanchit Jain, Director (Member of the Committee)

CSR Spend / Sources of Funding

The committee shall endeavor to spend atleast 2% of the average net profit during the preceding 3 financial years on CSR activities as enumerated above.

Any surplus arising out of the contribution made for CSR Activities shall not form part of the business profit of the Company and redeployed for such activities.

Exclusion from CSR

The following activity shall not form part of the CSR activities of the Company :

• The activities undertaken in pursuance of normal course of business of a company.
• CSR projects/programs or activities that benefit only the employees of the Company and their families.
• Any contribution directly/indirectly to political party or any funds directed towards political parties or political causes.
• Any CSR projects/programs or activities undertaken outside India.

Implementation

CSR Team shall plan, implement, monitor and manage all CSR projects & activities for Jain Metal Group and will work closely under the guidance of the CSR Committee of the Board.

CSR Team will formulate implementation plans for the projects specifying the following :

• Activities to be undertaken.
• Budgets proposed.
• Time frame for implementation.
• Identifying short-term and long-term projects.
• Responsibilities and authorities for implementation.

Monitoring & Reporting

The CSR Committee will be responsible for the monitoring CSR activities and report to the Board from time to time.

An annual presentation will be made to the Committee which will also include the details of the projects / activities planned for the next year and its respective budgets.

The Board of Directors shall review the implementation of CSR every year or as and when required.

Amendment of Policy

The CSR policy of the company may be amended at any time by the board of the company on the recommendation of the CSR committee.