[Pursuant to Section 134 (3) (o) of the Act and Rule 9 of the Companies (Corporate Social Responsibility) Rules, 2014]
- A brief outline of the Company’s CSR policy, including overview of projects or programs proposed to be undertaken.
- The objective of the company is to contribute to the social, health related, economic development of the communities, animal welfare, sports and education, so as to promote sustained growth for the society and community and in particulars take up the activities as included in Schedule VII of the Companies Act, 2013.
- The CSR Committee facilitates the Annual CSR action plan containing the clear terms of reference outlining the key tasks, duration of assignment, allocation of budget for different projects, method of implementation and review. The CSR budget shall be according to Companies Act, 2013.
- Money unutilized, if any, in the previous year will be carried forward and included in the budget for the next year. Any surplus arising out of the CSR projects or programs or activities shall not form part of the business profit of the Company.
- Project activities identified under CSR are to be implemented by agencies, which would include- Voluntary Organizations (VOs) formal or informal Elected local bodies such as Panchayats etc., Institutes/ Academics Institutions, Trusts, Hospitals, Self Help Groups, Govt./Semi Govt./Autonomous Organizations, Mahila Mandals, Professional Consultancy Organizations etc.
- The Corporate Social Responsibility activities undertaken by the Company will be monitored by the Corporate Social Responsibility Committee duly constituted by the Board. The committee will be responsible to institute a transparent monitoring mechanism for implementation of the CSR projects or programs or activities undertaken by the company.During the year 2017-18, the Company had identified certain projects/activities on which the CSR expenditure for the financial year was made. The activities included promoting education and health care including preventive health care, facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups, animal welfare etc.
The Corporate Social Responsibility (CSR) Policy of the Company as approved by the Board of Directors is available on the Company’s Website i.e. http://www.bcl.ind.in/pdf/policies-mechanisms-2018/csr-policy-2018.pdf
- Composition Of The Corporate Social Responsibility (CSR) Committee:
- Average net profit of the company for last three financial years (₹ in lakhs) : ₹ 942.97 Lakhs
- Prescribed CSR Expenditure (two per cent of the amount as in item 3 above)
– (Two per cent of ₹ 942.47 Lakhs): ₹18.86 Lakhs
– Unspent amount from previous year: Nil/ N.A.
– The Company is required to spend ₹ 18.86 Lakhs towards CSR.
- Details of CSR spent during the financial year.
(a) Total amount spent for the financial year; ₹ 18.49 Lakhs
(b) Amount unspent, if any ; 0.37 Lakhs
(c) Manner in which the amount spent during the financial year:
* Details of the Implementing Agencies :
Dashmesh Girls College, Badal, Punjab
Dwarka Dass Mittal Charitable Trust, Bathinda, Punjab
- Reasons for failure of the Company to spend the complete two per cent of the average net profit of the last three financial years or any part thereof :
The Company has spent around 98% (i.e. ₹ 18.49 Lakhs out of ₹ 18.86 Lakhs) of the expenditure required to be made on CSR Activities under Section 135 of the Companies Act, 2013 read with relevant Rules thereto. The Company is endeavored to ensure full utilization of the allocated CSR budget. The Company is also in the process of identifying some more CSR projects which fit within its CSR Policy. Since suitable projects are yet to be identified, the total amount required to be spent as per regulatory requirements could not be done. The minor amount which remained unspent due to unavoidable circumstances, shalll be added to the CSR budget for the Financial Year 2018-19.
- CSR Committee Responsibility Statement
The CSR Committee do hereby undertakes that the implementation and monitoring of CSR Policy, is in compliance with CSR objectives and Policy of the Company.