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Corporate Social Responsibility (CSR) Policy

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Corporate Social Responsibility [CSR] is a continuous process which expects business organizations to contribute to the wellbeing of communities and the environment within which they operate.

For SMILE the concept of CSR carries greater significance. As a responsible organization, SMILE has always taken care of the welfare of communities and the overall environment and now it seeks to make CSR a part of its business culture.

Specifically, we see CSR as the voluntary actions that we can take in the interests of wider society. CSR perspectives also Strengthens the SMILE brand for its socio-economic cause.

CSR Objectives:

We see CSR as good for society and good for business. Better understanding of the potential benefits of CSR helps to achieve the objectives in an effective manner. It also helps to and encourages spreading of CSR practice.

By integrating CSR into the organization, SMILE is adopting a policy which will achieve its CSR targets and objectives in the normal course of business automatically. We always aim to “Eliminate Poverty” which is our business motto and we propose the same to be our CSR Slogan.

• Enhance Social Welfare
• Empower Women
• Eliminate Poverty

 

Social Responsibility

As a responsible and socially committed organization, SMILE strives to improve the social welfare and the quality of life of the communities in which it operates. SMILE commits itself that it will not discriminate beneficiaries of CSR based on membership, gender, caste or creed.

SMILE works for and strives to:

• Support the health, education and community welfare activities.
• Protect the environment by adopting “Go Green” culture in work place.
• Provide suitable facilities to people with special needs and facilitate their requirements
• Partner with community development authorities to promote, support and participate in community development initiatives.

 

Key Activities in CSR

Activities to be undertaken under CSR will be decided by the CSR committee. In framing such activities to be carried out, Guidance shall also be taken from Schedule VII of Companies Bill 2012, which provides an illustrative, inclusive CSR activity.

A comparison between Suggested CSR activities by the statute and the present / envisaged activities by SMILE are given as annexure to this document.

CSR Committee

As a specific review measure, and to assess whether the objective of the CSR policy is met, in SMILE, we have formed a CSR committee which comprises of 3 directors which includes 1 Independent director. This committee will critically review the following:

• Review of CSR Policy
• Review of CSR implementation and its practice
• Review of results obtained and management’s expectations/strategies for the future with regard to CSR

As a prudent corporate governance measure, we intend to publish the snapshot of CSR activities undertaken during the financial year. All these CSR measures will also be posted in our official website www.smileltd.in for public access.

CSR Spending

As a policy, in a year, we intend to spend upto a limit of 2% of average of last 3 financial year’s profits (after tax) towards CSR activities. If the overall CSR spending in a year exceeds the above fixed limit, prior approval from the Board shall be obtained.

Every expenditure, exceeding a specific limit per transaction (limit shall be prescribed by the CSR committee) shall have prior approval from CSR committee.

CSR Commitment

We undertake to be fully accountable for all our actions, and to adequately assess all of our activities, to ensure that we are not adversely affecting the environment, community, economy or culture in which we operate.

Annexure

A comparison between Suggested CSR activities by the statute and the present / envisaged activities by SMILE