CSR

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.

    • Objective

To promote, carry out, support any activities covered in Schedule VII to the Companies Act, 2013, as amended from time to time.

    • Projects and Programs
      1. (a) Current focus of CSR Projects is on healthcare, education, preservation of natural resources, skill development, rural development, agriculture, women empowerment, sanitation etc.
      2. (b) Such projects or programs may be undertaken by Company itself or through a registered Trust or registered Society or through such Agencies which have an established track record.
    • Geographical Locations

Geographic locations for CSR activities is selected based on following criteria:

      1. (a) Where we are likely to be more effective due to greater ground level connect, such as Surat District in Gujarat.
      2. (b) Supporting activities of other NGOs, Trusts, etc. where they are doing effective work in our areas of interest.
    • CSR Expenditure

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.

    • Annual Action Plan

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.

    • Surplus arising out of CSR Activities

Any surpluses arising out of CSR projects or programs or activities shall not form part of the business profits of the Company.

    • Process

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

    • Shri Pramod Kumar Chaudhary, Chairman
    • Shri Yogesh Gupta, Member
    • Shri Avneep Bansal, Member
    • Shri Akshat Chaudhary, Member

03. The Board of Directors of the Company has approved projects / programmes / activities as enumerated under Schedule VII of the Companies Act, 2013