I. About the Policy
Buchi India Private Limited is engaged in the business Sales & Service of Laboratory & Quality Testing Equipments. Buchi India Private Limited (“the Company”) has always worked toward building trust with shareholders, employees, customers, suppliers based on the principles of good corporate governance, which are integrity, equity, transparency, fairness, disclosure, accountability and commitment to values. As a player in the world Marketplace the Company recognizes that our global presence in business, demands a global commitment to social responsibility.
Our vision is to actively contribute to the social and economic development of the communities in which we operate.
This CSR Policy of the Company is framed in accordance with the Section 135 of Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014. The Company shall undertake the CSR activities mentioned in this policy, as a projects or programs or activities (either new or ongoing), excluding activities undertaken in pursuance of its normal course of business.
The Board of the Company shall be empowered to amend or modify this policy and such changes shall be placed before the Board for approval.
II. List of CSR Projects or Programs
The Company shall undertake below mentioned CSR projects or programs which are falling within the purview of the Schedule VII of the Companies Act 2013, as amended by Ministry of Corporate Affairs (MCA) vide Notification dated February 27, 2014. The below mentioned activities are not undertaken in the normal course of business of a Company.
Activities relating to:-
- Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water.
- Promoting education and employment skills especially among children, women, elderly and differently abled and livelihood enhancement projects.
- Promoting gender equality, empowering women, setting up homes and hostels for women and orphans and old age homes and such other facilities and measures for reducing inequalities faced by socially and economically backward groups.
- Ensuring Environmental Sustainability, ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources and maintaining quality of soil, air, and water.
- Protection of National heritage, art, culture including restoration of buildings and sites of historical importance and works of arts, setting up public libraries, promotion and development of traditional arts and handicrafts.
- Measures for the Benefits of Armed Forces veterans, war widows and their dependents.
- Training to promote rural sports, nationally recognized sports, Paralympics sports and Olympic sports.
- Contribution to the Prime Minister’s National Relief Fund or any other fund set up by the Central Government for socio-economic development and relief and welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women.
- Contribution or funds provided to technology incubators located within academic institutions which are approved by the Central Government.
- Rural Development projects.
III. Consideration of Proposals and allotment of funds for CSR Projects and Activities
- Individual proposals have to be within the framework of the CSR Policy.
- Every CSR proposal / project should define details of activities, time frame, funds required, organizational responsibilities, expected results and sustainable aspects. The CSR Committee will evaluate the proposals and give its recommendations to the Board.
- On release of funds CSR, Committee will ensure proper utilization of funds for the approved activities and receive periodical progress reports before release of next instalments.
- Any CSR Projects submitted by NGOs shall be approved by the CSR Committee only after verification of credentials, capability and preparedness to work of such NGOs in the specified locations.
IV. Implementation of projects or programs
- The CSR projects or programs shall be implemented in three ways as below:-
- > Directly by Company
- > Through NGO like Registered Trusts, Societies or Companies with Charitable objects
- > By collaboration with other Companies
- All the activities undertaken in India shall be considered as CSR activities provided it shall not benefit only to the employees of the company. The Company shall give preference to the local area and areas around it where it operates, for its CSR activities. Every Project will specify the implementation schedule indicating the starting date, date of completion, likely benefits etc.
- The Board of the Company may decide to undertake above mentioned CSR activities after getting approved by the CSR Committee either directly through a Registered Trusts, Societies, or companies with Charitable objects, which are not set up by the Company itself, provided such organizations have an established track record of at least three years in carrying on activities in related areas. The Company may decide to undertake CSR activities through a Registered Trusts, Societies, or companies with charitable objects established by the Company or its Holding or Subsidiary or Associate Company.
- The Company may collaborate or pool resources with other companies to undertake CSR project, program or activities and any expenditure incurred on such collaborative efforts would qualify for computing the CSR spending. However, CSR Committees of respective companies are in a position to report separately on such project or programs or activities.
- Surplus arising out of the CSR projects or programs or activities shall not form part of the business profit of a Company.
- CSR Committee may hire a suitable senior person with suitable background who shall deal with all activities related to CSR and report directly to CSR Committee Chairman. CSR Committee may also hire consultants with required competency and experience from time to time for identified projects and to be in-charge of implementation of the projects. A suitable Trust / Registered society may also be established to implement specific Project / Activity.
V. Modalities of execution of project and Monitoring process of projects or programs
- Selected Project may be taken up for evaluation through an outside Agency or in house expertise and they shall advice CSR Committee.
- Release of funds after commencement of the activity shall be invariably linked to achievement of results against the targets till date.
- Release of funds shall be made after fulfilling the targets, proportionate to the funds released earlier. The self-sustainability of the activity shall be established after its implementation in the given time frame.
- All CSR projects or programs shall be monitored directly or indirectly by CSR committee.
- The projects or programs shall be finalized within the time frame decided by the chairman of the CSR Committee. CSR Committee shall authorize any person for monitoring the process on regular interval.
- The chairman of CSR committee shall draw a time frame from the date of initiation projects or programs. Any delay noticed by chairman while monitoring the activity, remedial measures may be taken for timely completion of the Project.
- CSR projects or programs undertaken through a Registered Trusts, Societies, or companies with charitable objects (“such Organization”) shall be evaluated and monitored jointly by CSR committee and respective such Organization. An evaluation format shall be prepared jointly by, CSR committee and such Organization. The periodicity of joint evaluation shall also be decided by both, CSR committee and such Organization. At times, any official from CSR committee or any other person authorized by CSR committee may independently review the performance by visiting the sites.
- If it is observed that any CSR activity taken up for implementation is found not properly implemented, CSR Committee at its discretion may discontinue funding the project at any time during the course of implementation.
VI. The CSR Board Member's
The CSR Board Member's are Sanjay Seshadari & Ravi Lodaya.