Corporate Social Responsibility (CSR) Policy
CSR Vision, Mission and Philosophy of AVA Cholayil Health Care Pvt. Ltd. (AVACHPL)
AVACHPL believes that while in pursuit of its business objective of offering products that give its customers health and wellness, our operations besides improving shareholder wealth, will rigorously strive to :
- Continuously report and improve the direct and indirect environmental impact for a better tomorrow in the world we live in.
- Be a good corporate citizen recognizing our responsibility to work in partnership with communities we operate in.
- Provide our customers with products/services marked by integrity, quality and care.
- Ensure that our business is conducted in all respects according to rigorous ethical, professional and legal standards.
CSR Objectives of AVACHPL
- Promoting health care including preventive health care by contributing to accredited and recognized institutions that carry out scientific research on life threatening diseases viz. Cancer, HIV/Aids etc.
- Promoting sanitation and hygiene amongst target groups such as schools, hospitals and the like, by educating target audiences on hygienic practices and benefits thereof.
- Promoting education including higher education and employment and enhancing vocational skills among the lower strata of society especially by providing educational assistance to bright students from lower income groups who are otherwise unable to avail such educational opportunity.
- Eradicating Hunger, Poverty and Malnutrition, promoting preventive Health care and sanitation including Disaster Relief in the form of Food Supply, Medical Aid and Supply of Clean drinking water.
- Promoting Education amongst children by supply of inputs like Text Books, Note Books, School Bags, Lunch Bags and other accessories to meet Educational needs of needy students.
- Measures to reduce inequalities faced by Socially and Economically backward groups including Slum Development/and or Housing for Economically Weaker Section (EWS).
- Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centers and such other facilities for senior citizens.
- Assistance in rendering medical and legal aid, treatment to road accident victims and Trauma Care around highways in case of road accidents.
- Training to promote Sports, nationally recognised Sports, Paralympic Sports and Olympic Sports.
AVACHPL will implement its CSR obligations by way of contributions to renowned and approved institutions that carryout all or any of the Company’s approved CSR objectives. Contribution to various funds which are aligned with Company’s CSR Vision, Mission and Philosophy such as the Prime Minister’s National Relief Fund and other Funds set up for implementing all and/or any of the aforesaid activities will also be part of CSR implementation approach.
The Company may also implement CSR through contributions to any Society/Trust registered with the concerned Registering Authority and preferably U/s 12AA of Income Tax Act, having not less than 3 years track record in implementing such projects. Alternatively CSR may also be implemented by way of contribution to the AVA Charitable Trust (Registered U/s 12AA of the Income Tax Act, 1961 vide No.831/07-08 effective 23.08.2007) in accordance with the objectives of this CSR policy and that of the Trust. CSR spends will be confined within India with preference to the local and other area/s where the Company has operations.
The Corpus for the purpose of carrying out CSR activities would primarily comprise of :
- 2% of average Net Profit (computed as per Sec.198 of Companies Act 2013), made by the Company during the preceding three financial years.
- Surplus arising out of CSR programs and income arising from such programs.
Monitoring and Governance
The CSR committee of the Company will comprise of 3 Directors including Managing Director of the Company with the HR and Finance Heads of the group also as members. The CSR policy has been formulated by the CSR committee and approved by the Board of Directors of the Company. The progress of CSR implementation will be monitored by the CSR committee and updated to the Board on a regular basis.