01. Corporate Social Responsibility Policy
At Spectrum, we are committed to making a difference in the communities where we live, work and do business. This commitment dates to the earliest years of our group and is a vital part of both our heritage and of who we are today.
Spectrum has a rich history of corporate social responsibility, a history that has grown and evolved to meet the complexities of today’s business world and the challenges of a global society. We are proud of our progress, but there is still much we can do.
The Company strongly believes that corporate success and social welfare are inter dependent. CSR Policy of the Company has been formulated considering the statutory provisions and activities enumerated in Schedule VII of the Companies Act, 2013.
To promote, carry out, support any activities covered in Schedule VII to the Companies Act, 2013, as amended from time to time.
Geographic locations for CSR activities is selected based on following criteria:
CSR expenditure shall include all expenditure for projects or programs relating to CSR activities approved by the Board on the recommendation of its CSR Committee.
The CSR Committee shall formulate and recommend to the Board, an Annual Action Plan as per the guiding principles laid down under the applicable laws.
Any surpluses arising out of CSR projects or programs or activities shall not form part of the business profits of the Company.
The CSR Committee shall institute a transparent monitoring mechanism for implementation of the Corporate Social Responsibility projects or programs or activities undertaken by the Company and significantly higher engagement for the community.
02. The CSR Committee Comprises of following Members
03. The Board of Directors of the Company has approved projects / programmes / activities as enumerated under Schedule VII of the Companies Act, 2013