CORPORATE SOCIAL RESPONSIBILITY POLICY

Content

1. Introduction
2. Objective
3. Scope and availability
4. Composition of CSR Committee
5. Responsibility
6. CSR Budget

1. Introduction

Ace Pipeline Contracts Private Limited (herein after referred to as “the Company”) established in 1989, Mumbai, has always played an active role in discharging its social obligations, subject to the financial health of the Company. Prior to the Companies Act, 2013 Corporate Social Responsibility (herein after referred to as CSR) in the Company was influenced by family values, traditions, culture and religion.

Pursuant to Section 135 of the Companies Act, 2013 and Companies (Corporate Social Responsibility Policy), Rule 2014, the Company has formulated a Corporate Social Responsibility Policy, emphasising promotion of quality education, development of employment enhancing skills, activities for betterment of social and economic development of weaker sections of the society, hereby contributing to harmonious and sustainable development of society and the Earth through its business activities.

This Policy sets forth the Company’s goals in complying with all the CSR-related provisions of the Companies Act, 2013.

2. Objective

The Company’s CSR Policy intends to:

• Contribute to sustainable development
• Eradicating extreme hunger, poverty and malnutrition, promoting preventive healthcare and sanitation and making available safe drinking water
• Strive for economic development that positively impacts society at large
• Provide support for education for economically weaker sections of the society and girl child;
• Initiate for combating climate change;
• Promote of employment enhancing vocation skills especially among youth;
• Promote healthcare including preventive healthcare. 

3. Scope and availability:

This Policy is formulated based on the provisions of Companies Act, 2013, Companies (Corporate Social Responsibility Policy) Rules, 2014 and notification made thereunder.

The members of Corporate Social Responsibility Committee may modify this Policy if required with the approval of Board of Directors of the Company. The Board shall abide by this Policy.

4. Composition of CSR Committee:

• The Chairman of the Committee can be any member of the Committee
• The members of the Committee shall be elected by the Board of the Company
• Tenure of the membership in the Committee shall be based on tenure of the Directorship in the Company
• The Committee is being formulated with following Directors:

4.5        The Directors of the Committee may be changed by the Board of Directors as and when required

5. Responsibilities:

• Formulate and recommend the Company’s CSR Policy to the Board, which shall indicate the activities to be undertaken under CSR Projects by the Company from time to time.
• Recommend projects/ activities in line with the provisions of Companies Act, 2013
• Recommending the amount of expenditure to be incurred on the activities to the Board to ensure that the financial statements relating to CSR is correct, sufficient and credible.
• To monitor and review the progress in CSR Projects as may be required from time to time.
• To consider other matters as may be specified by the Board.

6. CSR Budget:

The total budget for the CSR projects will be decided by the CSR Committee within the limit prescribed in the Section 135 of the Companies Act, 2013.

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