CORPORATE SOCIAL RESPONSIBILITY POLICY OF TESTO INDIA PRIVATE LIMITED
TESTO INDIA PRIVATE LIMITED believes in the importance of supporting the communities in which Company operates. The Company’s policy towards Corporate Social Responsibility (CSR) is conducting business by integrating its economic, environmental and social objectives in such a way that it will contribute for the social good together with its operational growth. The CSR initiatives focus on holistic development of host communities and create social, environmental and economic value to the society.
We are putting in place a Policy called Corporate Social Responsibility (“CSR”) which is as under :
I. To work actively in line with the regulatory requirements under the Companies Act, 2013, read with Schedule VII of the Act and the CSR Policy Rules as amended and finalise year wise CSR Action Plan.
II. Following the completion of its’ year-end audit, the Company will arrive at the amount required to be spent under the Rules. CSR Committee set up in accordance with the provisions of the Companies Act 2013 will propose the allocation of the spending among community projects to the Board of Directors.
III. These projects will have no connection to any member of the Company’s management group or their families and will be non-political in nature. Preference will be given to projects run by third party agencies that promote education and health care and which have been operating in the respective fields for at least three preceding financial years.
IV. The CSR committee will also report on an annual basis, on the activities undertaken during the year and the related spending. The report will also be included in the Company’s Annual Board Report.