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CSR Policy

Policy Statement

Corporate social responsibility (CSR) is strongly connected with the principles of sustainability; an organization should make decisions based not only on financial factors, but also on the social and environmental consequences. Policy on CSR is mandatory as per clause (o) of sub-section (3) of section 135 of the Act and Rule 9 of the Companies (Corporate Social Responsibility) Rules, 2014].

CSR is defined within a framework of corporate philosophy that considers the needs of the community and the regions where a company operates. It is a core responsibility to uphold corporate values by fostering growth in a socially and environmentally responsible manner, while also addressing the interests of all stakeholders.

M M Castings Private Limited strives to foster a company culture based on core values that defines the role that we can and should play in society. Our values:

  • We identify and act upon new opportunities to apply our technology and expertise to societal problems
     

  • We scale our existing programs and initiatives to achieve maximum benefit
     

  • We empower our employees and others to serve their communities
     

M M Castings Private Limited pursues the highest standards of social responsibility, from how we address pressing societal concerns, to support and empower our employees, to how we work with our clients, to how we govern the corporation. We aim to regularly exceed those standards.

Throughout its history, has taken a thoughtful, comprehensive approach to corporate responsibility that we believe aligns with our values and maximises the impact we make as a global enterprise. In all these efforts, there are several guiding principles which we follow.

Since its inception, has been a company that defines itself by fundamental values — not by products, technologies or leaders. Today, shared values are more essential than ever before — for enterprises, for individuals, and for the globally integrating society of the 21st century. These values are:
 

  • Dedication to every client’s success
     

  • Innovation that matters – for our company and for the world
     

  • Trust and personal responsibility in all relationships

Policy

The Board of company, in order to have a structured approach towards CSR, has decided to formulate CSR Policy. Accordingly, a CSR Policy (“the Policy”) has been formulated with a view to provide a mechanism for meeting the social responsibility of the company in an effective manner to provide optimum benefits to various deserving sections of the society.
 

  • We identify and act upon new opportunities to apply our technology and expertise to societal problems.
     

  • We scale our existing programs and initiatives to achieve maximum benefit.
     

  • We empower our employees to exercise their "well developed skills" to make a measurable impact on communities and develop their skills
     

Comprehensive approach to corporate citizenship aligns with our values and maximizes the impact we can have as a global enterprise. We focus our community engagement and corporate service programs on specific societal issues, including community enablement, economic development, and education. These are areas of urgent societal needs where we can apply talent to solve problems. In all our community service efforts, we aim to provide leadership and effect positive change. We also work closely with highly qualified partners who are deeply committed to the same outcomes.

The company has its corporate office at Y 286, M.B. Road, Lal Kuan, Badarpur, New Delhi 110044 (Delhi).

Purpose and Objectives

The following are recognized as the purpose of this Policy:

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  • To establish itself and remain as a responsible corporate entity conscious of its social responsibilities to all stakeholders
     

  • To build and strengthen welfare measures for the community at large
     

  • To specify various avenues where CSR initiatives can be undertaken by the company in accordance with the provisions specified under the Companies Act, 2013 and rules framed thereunder

Corporate Social Responsibility

The Company shall comply with the provisions of the Companies Act, 2013 including any amendment or re‐enactment thereof and rules framed thereunder pertaining to Corporate Social Responsibility including projects or programs relating to activities specified in Schedule VII of the said Act as may be specified in this Policy and approved by the Board of Directors.

CSR committee

  • The Board of Directors of the Company shall constitute a CSR committee.
     

  • The CSR committee shall recommend to the Board projects or programs which may be undertaken by the company in terms of this Policy and the amount of expenditure to be incurred on those activities.
     

  • The CSR committee shall institute a transparent monitoring mechanism for implementation of the CSR Projects or programs, or activities undertaken by the company.

CSR Activities

  • Following CSR activities can be undertaken by the Company:
     

  • Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation including contribution to the Swachh Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water including contribution to the Clean Ganga Fund setup by the Central Government for rejuvenation of river Ganga.
     

  • Promoting education including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects.
     

  • Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups.
     

  • Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government.
     

  • Any other activity incidental to the above activities.
     

  • Generally, such proposals for contribution shall be considered for which funds/contributions are not easily attracted.
     

  • The Board of Directors may decide to undertake the CSR activities through a registered trust or a registered society or a separate company established by the company or otherwise provided that if such trust, society or company is not established by the company, it shall have an established track record of three years in undertaking such programs or projects and the company has specified the project or programs to be undertaken through these entities, the modalities of utilization of funds on such projects and programs and the monitoring and reporting mechanism.
     

  • The Company may also collaborate with other companies for undertaking projects or programs or CSR activities in such a manner that the CSR committees of respective companies are able to report separately on such projects or programs.
     

  • The CSR projects or programs or activities shall be undertaken by the company only in India.
     

  • Surplus, if any, arising out of the CSR projects or programs or activities shall not form part of the business profits of the company and shall be spent on CSR activities.
     

  • Company may build CSR capacities of its own personnel as well as those of its implementing agencies through institutions with established track records of at least three financial years but such expenditure, including expenditure on administrative overheads shall not exceed five percent of total CSR expenditure of the company in one financial year.

Reporting and Monitoring

  • All CSR projects or programs or activities undertaken by the company shall be subjected to periodic reporting of the progress thereof.
     

  • Impact analysis evaluation by an external agency of the activities for which contributions are made shall be undertaken.
     

  • CSR committee shall monitor and evaluate the progress of the projects on annual basis or in such other manner as may be decided by the CSR committee.

Disclosure

The Board’s report of the Company pertaining to a financial year commencing on or after April 1, 2015, shall include a report on CSR containing particulars as specified in the Act or CSR rules framed thereunder.

Amendment

Any amendment to this Policy shall be subject to the prior approval of the Board upon recommendation of the CSR committee.

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