This CSR Policy encompasses Systopic Laboratories Private Limited’s philosophy for social responsibilities and lays down the guidelines and mechanism for undertaking projects, programs and activities towards such responsibilities.
The main objective of CSR policy is to make CSR a key business process for sustainable development of the society Systopic Laboratories Private Limited will act as a good corporate citizen and aims at supplementing the role of Government in enhancing the welfare measures of the society within the framework of its policy
In the aforesaid backdrop, policy on CSR of Systopic Laboratories Private Limited is broadly framed taking into account the following measures:
The CSR activities shall be undertaken by Systopic Laboratories Private Limited, as stated in this Policy, as projects or programs or activities (either new or ongoing), excluding activities undertaken in pursuance of its normal course of business.
The CSR activities which are exclusively for the benefit of Systopic Laboratories Private Limited employees or their family members shall not be considered as CSR activity.
Systopic Laboratories Private Limited shall give preference to the local area or areas around it where it operates, for spending the amount earmarked for CSR activities.
The Board of Systopic Laboratories Private Limited may decide to undertake its CSR activities as recommended by the CSR Committee, through a registered trust or a registered society or a company established by the company or its holding or subsidiary or associate company pursuant to Section 135 of the Companies Act, 2013 and rules made there-under.
The following is the list of CSR projects or programs which Systopic Laboratories Private Limited plans to undertake pursuant to Schedule VII of the Companies Act, 2013:
The CSR Committee has been constituted in accordance with the provisions of the Act comprising of the 3 (three) Directors. The CSR Committee may invite other experts/ invitees as per its requirements
The CSR Committee shall –
The Board of the company shall after taking into account the recommendations made by the CSR Committee, approve the policy for the company and disclose contents of such Policy in its report and also place it on the company’s website, as and when deem fit, and ensure that the activities as are included in the CSR Policy of the company are undertaken by the company.
Systopic Laboratories Private Limited provide the vision under the leadership of its Managing Director, Mr. P.K.Dutta.
At the Company, the Managing Director takes on the role of the mentor, while the onus for the successful and time bound implementation of the CSR activities/projects is on the CSR teams.
All activities/projects of CSR are assessed under the agreed strategy, and are monitored every quarter/year, measured against targets and budgets. Wherever necessary, midcourse corrections are made.
A specific budget is allocated for CSR activities and spending on CSR activities shall not be less than 2% of the average net profits of the Company made during the three immediately preceding financial years, in pursuance of this policy.
In case Company fails to spend such amount, the Board shall specify the reasons for not spending the amount.
Approving authority for the CSR amount to be spent would be any one Director or the Managing Director or VP (F)/Chief Financial Officer of the Company after due recommendation of CSR Committee and approval of the Board of Directors of the Company.
The CSR Policy mandates that the surplus arising out of the CSR projects or programs or activities shall not form part of the business profit of a company.
The CSR projects or programs or activities undertaken in India only shall amount to CSR expenditure.
CSR expenditure shall include all expenditure including contribution to corpus, for projects or programs relating to CSR activities approved by the Board on the recommendation of the CSR Committee, but does not include any expenditure on any item not in conformity or not in line with activities which fall within the purview of Schedule VII of the Companies Act 2013.
Tax treatment of CSR spent will be in accordance with the Income Tax Act as may be notified by CBDT.
The Company’s engagement in this domain is disseminated on its website, annual reports and its house journals as and when deem fit.
Our Board of Directors, our Management and all of our employees subscribe to the philosophy of compassionate care. We believe and act on an ethos of generosity and compassion, characterised by a willingness to build a society that works for everyone. This is the cornerstone of our CSR policy.
CSR Committee of Board of Systopic Laboratories Private Limted will review the policy from time to time based on the changing needs and aspirations of the target beneficiaries and make suitable modifications as may be necessary.
Our Corporate Social Responsibility policy conforms to the Section 135 of the Companies Act, 2013 on Corporate Social Responsibility as spelt out by the Ministry of Corporate Affairs, Government of India.
The CSR Committee is empowered to amend or modify the CSR Policy and such changes shall be placed before the Board for its approval. The Board may subject to compliance with applicable law, at any time approve or alter, amend or modify the CSR Policy, as it deems fit to comply with the statutory obligation to undertake the CSR Activities.