Corporate Social Responsibility (CSR) Policy

Policy Name: CSR (Corporate Social Responsibility) Policy

Approved by :

  • Mr. Aniketh Jain
  • Mr. Giacomo Dal’aglio
  • Mr. Luca Giardina Papa

Policy effective from : 01 st January 2019

1. Preamble

Corporate Social Responsibility (“CSR”) refers to the responsibility of Companies towards the Society, Community and Environment. Companies should not only aim for their own profitability and growth, but also the interests of the Society and the Environment. Therefore, CSR is carried out by the Corporates, for the welfare of the Society.

Corporate Social Responsibility Activities creates a sense of trust among the members of the Society towards Corporates. Consequently, corporations earn and increase reputation, brand value among the members of the public.

The Companies Act, 2013 (hereinafter referred to as “the Act”) under Section 135 has introduced the concept of Corporate Social Responsibility (CSR). It mandates that all Companies meeting the below mentioned threshold limits, constitute a Corporate Social Responsibility Committee (CSR Committee) to carry on CSR Activities:

  • having net worth of rupees five hundred crore or more, or
  • turnover of rupees one thousand crore or more, or
  • a net profit of rupees five crore or more, during the immediately preceding financial year.

Solutions Infini Technologies (India) Private Limited (hereinafter referred to as “the Company”) has crossed the threshold limit of net profit of rupees five crore during the financial year 2017-18. Consequently, the CSR Committee (CSR Committee) has already been constituted by the Company.

Section 135 of the Act read with Companies (Corporate Social Responsibility Policy) Rules, 2014 (hereinafter referred to as “CSR Rules”) lays down the procedure and modes of carrying out the Corporate Social Responsibility Projects and Programs relating to activities specified in Schedule VII of the Act as detailed in Annexure. The Company intends to take up the activities which would benefit the society at large and has wider and long-lasting impact.

As per the Act and CSR Rules, in every financial year the company needs to spend at least 2% of its average net profits made during the three immediately preceding financial years towards CSR activities or initiatives proposed to be undertaken by the Company.