Corporate Social Responsibility Policy (“CSR Policy”)

INTRODUCTION

We at Johnson Lifts Private Limited (“JLPL”) moving the nation to greater heights engaging in vertical transportation business for over fifty plus years. We never lose sight of our responsibility to the environment and society. Our commitments towards Corporate Social Responsibility include but not limited to promotion of education and healthcare, energy and climate change, and betterment of the society through respect for universal human rights and the environment, acting with integrity and accountability and operating responsibly and sustainably. The Corporate Social Responsibility Policy has been formulated by the CSR Committee and approved by the Board of Directors.

 CSR contribution would, in addition to adopting the best business and industrial practices and technologies, include actions such as behaving ethically and responsibly towards the environment, contributing to social welfare through appropriate projects and programs and helping in times of nation disasters by providing succor to the needy and so on. Accordingly, JLPL has in the past been contributing to various social welfare activities as part of its Corporate Social Responsibility (“CSR”) initiatives.

JLPL shall endeavor to meaningfully enhance the lives of disadvantaged section of the society by undertaking programs/projects as a part of the CSR activities. Towards this end, this policy lays down the guiding principles for JLPL to carry out its CSR activities and also the process for the execution, implementation and monitoring of such activities

The CSR policy is formulated in accordance with the provisions of section 135 of the Companies Act, 2013 and rules made thereunder and other applicable laws to the Company.

This Policy is effective from 1st May 2024, as amended from time to time.

DEFINITIONS

(a) “Act” means Companies Act, 2013 including any Statutory modification or re- enactment thereof

(b) “Board” means Board of Directors of JOHNSON LIFTS PRIVATE LIMITED

(c) “CSR Committee” means Corporate Social Responsibility Committee  of the Board referred to in section 135 of the Companies Act

(d) “CSR Policy “means CSR Policy of Johnson Lifts Private Limited

(e) “CSR Rules” means the Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended from time to time.

(f) “Implementing Agency” means any entity registered with Ministry of Corporate Affairs for undertaking CSR projects, which is engaged by the company to implement various projects in pursuance of CSR Policy.

(g) “Financial Year” shall mean the period beginning from 1st April of every year to 31st March of the succeeding year.

(h) “Ongoing Project” means a multi-year project undertaken by a Company in fulfillment of its CSR obligation having timelines not exceeding three years excluding the financial year in which it was commenced and shall include such project that was initially not approved as a multi-year project but whose duration has been extended beyond one year by the board based on reasonable justification

 

Words and expressions used and not defined in this policy shall have the same meaning respectively assigned to them in the Act and the CSR Rules.

FUNCTIONS OF CSR COMMITTEE

The CSR Committee was constituted by the Board of Directors with following functions assigned:

(a) To formulate and recommend a CSR Policy indicating the activities to be undertaken by the company in areas or subject specified in Schedule VII to the Act

(b) To recommend the amount of expenditure to be incurred on the activities referred to in clause (a)

(c) To formulate and recommend an annual action plan in pursuance of CSR Policy

(d) Recommend changes to the Board, if any, needed in the annual action plan with reasonable justification to that effect.

(e) To monitor the CSR Policy as approved by the Board from time to time.

(f) To carry such other functions as may be required relating to CSR activities of the company.

CSR ACTIVITIES

This policy shall be applicable to all projects and program undertaken as part the Company’s CSR activities. The policy shall be reviewed and updated periodically as JLPL’s CSR initiatives evolve over time. It shall also always maintain compliance and alignment with the activities listed in Schedule VII and Section 135 of the Companies Act 2013 and the rules framed there under.

The company shall undertake such activities which are broadly related to any of the following activities listed under Schedule VII of the Act:

  • Eradication hunger, poverty and malnutrition, promoting health care including preventive healthcare 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.
  • 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 centers and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups 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, tribes, other backward classes, minorities and women.
  • JLPL may in future also take up the following other areas listed in Schedule VII of the Act as part of its CSR activities
  • Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional arts and handicrafts
  • Measures for the benefit of armed forces-veterans-, war widows and their dependents;
  • Training to promote rural sports, nationally recognized sports, Paralympics sports and Olympic sports
  • Contribution to incubators or research and development projects in the field of science, technology, engineering and medicine, funded by the Central Government or State Government or Public Sector Undertaking or any agency of the Central Government or State Government; and
  • Contributions to public funded Universities; Indian Institute of Technology (IITs); National Laboratories and autonomous bodies established under Department of Atomic Energy (DAE); Department of Biotechnology (DBT); Department of Science and Technology (DST); Department of Pharmaceuticals; Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH); Ministry of Electronics and Information Technology and other bodies, namely Defense Research and Development Organization (DRDO); Indian Council of Agricultural Research (ICAR); Indian Council of Medical Research (ICMR) and Council of Scientific and Industrial Research (CSIR), engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs).]
  • Rural development projects
  • disaster management, including relief, rehabilitation and reconstruction activities
  • Slum area development.

Any other activities in relation of the above and all other activities which forms part of CSR as per Schedule VII of the Act, 2013 as amended from to time.

JLPL’s CSR activities shall be undertaken only in India for the benefit of the Public at large. Preference shall be given to the local areas and areas where the Company operates for undertaking the CSR Activities.

ANNUAL ACTION PLAN

The CSR Committee shall formulate and recommend to the Board, an annual action plan which shall include the following:

(a) The list of CSR projects or programmes that are approved and to be undertaken by the Company;

(b) The manner of execution of such projects or programmes;

(c) The modalities of utilisation of funds and implementation schedules for the projects or programmes;

(d)  Monitoring and reporting mechanism for the projects or programmes; and

(e) Details of need and impact assessment, if applicable for the project, for the projects undertaken by the company.

The Board of Directors are empowered to alter the annual action plan during the financial  year, if so recommended by the CSR Committee, based on the reasonable justification for such change.

 

CSR SPENDING

The Board shall ensure that the company spends, in every financial year, at least 2% (two per cent) of the average net profits of the company made during the three immediately preceding financial years. “Net profit” shall mean the net profit as per Sec 135 of the Act and Rules based on which the specific percentage for CSR expenditure has to be calculated.     

Any unspent or excess spent CSR amount, shall be dealt in accordance with the applicable Act and CSR Rules. The unspent Corporate Social Responsibility Account and such amount shall be spent by the company in pursuance of its obligation towards the Corporate Social Responsibility Policy within a period of three financial years from the date of such transfer, failing which, the company shall transfer the same to a Fund specified in Schedule VII, within a period of thirty days from the date of completion of the third financial year.

Any surplus arising and/or additional revenue generated out of CSR Activities undertaken by JLPL shall not form part of the net profit of JLPL and it shall be spent for undertaking CSR Activities only.

MODE OF IMPLEMENTATION

The activities enlisted in this CSR Policy are carried out by the Company either individually or in association with eligible implementing agencies registered with the Ministry of Corporate Affairs. The company can also partner with local governance bodies, such as Gram Panchayats, Civic Bodies, Municipality to directly undertake approved CSR projects with the help and support of these bodies.

It may also collaborate with other companies for undertaking the CSR Activities subject to fulfillment of separate reporting requirements as prescribed in the Rules. The CSR Activities shall not include any activity undertaken by JLPL in pursuance of its normal course of business. Also, any CSR activities that benefit only the employees of JLPL shall not be considered as part of JLPL ‘s CSR activities. JLPL shall not make any payment directly or indirectly to any political party or parties as regards CSR Activities

IMPACT ASSESSEMENT

Impact assessment is to assess the social impact of projects of the company related to CSR on the ground level and to take appropriate decisions before deploying the CSR amount. The Company shall carry out the Impact Assessment in accordance with section 135 of the Act and rules made thereunder as and when it becomes applicable.

CAPITAL ASSETS

Capital asset acquired or created by CSR projects should be held by the beneficiaries of the said CSR project or a trust or a public authority for the benefits of all. The company should take appropriate measure to ensure that such assets are utilized for the purpose it was meant for and should not be transferred or disposed of without prior permission of the company

INFORMATION DISSEMINATION

CSR Policy and activities undertaken shall be disseminated on website for public access and shall be published in the Annual Report of the company in the format prescribed under the Act and CSR Rules.

REVIEW

The Committee shall monitor on a regular basis the carrying out of CSR activities and submit periodic reports to the Board as well as special reports if so required by the Board. The reports shall disclose the status of the CSR activities undertaken, expenditure incurred and any other details as may be required by the Board. The Committee shall be responsible to ensure compliance with statutory provisions and JLPL’ s CSR Policy.