Corporate Social Responsibility Policy

  1. Preamble and definitions:

    1. The Companies Act, 2013 requires companies to spend 2% of average net profit of last three years on CSR activities. Rothe Erde India Private Limited (REI) as a responsible corporate citizen commits itself to support the initiatives for the development of the underprivileged sections of the society by contributing regularly to social causes as defined in the policy below. The Company also utilises this occasion to create engaging opportunities for employees to be part of such meaningful activities, thus, further deepening the awareness about social responsibilities of every citizen towards larger social goals.
    2. Definitions:

      In this policy unless the context otherwise requires:-
      1. Act means the Companies Act, 2013
      2. Board means the Board of Directors of Rothe Erde India Private Limited
      3. CSR means Corporate Social Responsibility activities to be pursued by the Company in terms of the Act and this policy.
      4. Company means Rothe Erde India Private Limited (REI)
      5. CSR Rules means Companies (Corporate Social Responsibility Policy) Rules, 2014
      6. CSR Committee means the Corporate Social Responsibility Committee appointed by the Board of Directors of the Company
  2. CSR Activities:

    1. REI shall pursue the following activities covered in the Schedule VII of the Companies Act 2013 in furtherance of its CSR goals:
      1. Promoting health care, including preventive health care and sanitation including contribution to Swach Bharat Kosh set up by Government for promotion of sanitation and making available of safe drinking water aimed at benefitting underprivileged sections of the society.
      2. Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled for the betterment of the underprivileged sections of the society.
      3. Eradicating hunger, poverty and malnutrition
      4. Promoting gender equality and empowering women
      5. 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
      6. Renewable energy projects
      7. Rural Development Projects
      8. Ensuring environmental sustainability, ecological balance, animal welfare, agroforestry
      9. Contribution to the Prime Minister’s National Relief Fund or any other fund specified in Schedule VII to the Companies Act, 2013
    2. Promoting health care, education, rural development and environment sustainability etc. (pint No. 2.1.1 to 2.1.8) would be the primary focus areas of Company’s CSR activities for the year 2015-16 and subsequent years.
    3. Notwithstanding the above, if in any financial year the company is unable to spend the money on the activities enumerated in Para 2.1.1 and 2.1.8 for any reason, the CSR Committee shall spend the required amount by contributing to the Prime Minister’s National Fund (point 2.1.9) or any other fund specified in the Clause (viii) of the Schedule VII to the Act.
    4. The Company shall collaborate with other companies in India of the ThyssenKrupp group for furtherance of its CSR goals. The Company may accordingly sponsor the CSR projects jointly with such ThyssenKrupp companies in India. The Company will establish suitable monitoring mechanism to ensure that the necessary information relating to projects sponsored by the Company is made available to the Company.
    5. The Company encourages voluntary participation for its employees in its CSR activities. To aid and assist the CSR Committee in pursuance of this policy and implementation of CSR projects, the Company shall formulate a CSR Operational team consisting of at least 5 representatives from among its employees. The participation of the employees shall be on a purely voluntary basis without any remuneration. However the Committee shall be empowered to reimburse the actual expenses incurred by the employees in this regard. Such expenses shall not exceed 5% of the annual CSR expenditure calculated in accordance with the provisions of the ACT and CSR Rules.
    6. The Company shall each year spend a minimum of 2% of the average net profit of the last three financial years (calculated in accordance with the provisions of the Act) on CSR activities covered under this policy.
    7. The CSR Committee shall for each financial year of the Company approve the total budget for CSR activities, amount to be spent for each of the activities specified in Para 2.1 of this Policy.
    8. The CSR Committee shall approve the projects which are to be pursued as part of the CSR commitments of the Company. The CSR Committee shall be empowered to take appropriate decisions in this regards. The CSR Committee shall take assistance form CSR Operational team, for carrying out due diligence of the projects being considered for CSR activities and monitor the implementation of the projects.
  3. CSR Committee:

    1. The CSR Committee of the Company shall consist of minimum of two members of the Board of Directors of the Company or such larger number as approved by the Board.
    2. The following persons are the present members of the CSR Committee.

      Mr. Winfried Schulte – Chairman of the Committee.
      Dr. Pawan Kumar Singh
      Mr. Sarvesh Verma

      Mr. Sarvesh Verma shall also act as secretary to the Committee.
    3. Functions of the CSR Committee:

      1. Formulate and recommend to the board, CSR Policy Such a policy shall indicate activities to be undertaken by the company as specified in Schedule VII.
      2. Recommend the amount of expenditure to be incurred on those activities and approve yearly budget for CSR activities.
      3. Monitor the implementation of CSR policy from time to time. It shall institute a transparent monitoring mechanism for implementation of the CSR projects or programs or activities of the company.
      4. Appoint a CSR operational team to aid and assist in the implementation and monitoring of CSR activities and seek voluntary participation of employees of the Company in furtherance of its CSR policy.
  4. Monitoring and reporting:

    1. The CSR committee shall be responsible for ensuring that the Company spends the requisite amount in furtherance of the CSR Policy.
    2. The CSR committee with the assistance of the CSR Operational team shall conduct due diligence of projects selected for pursuing approved CSR activities. For this purpose the CSR Committee may require the CSR Operational team to make site visits and seek such reports and information as may be necessary.
    3. The CSR Committee shall seek periodical reports (not exceeding six months) from the CSR Operational team on the progress of the CSR programmes/projects undertaken and sponsored by the Company and shall ask the CSR Operational team to conduct site visits periodically (at least twice a year).
    4. CSR expenditure will include all expenditure, direct and indirect, incurred by the Company on CSR Programmes undertaken in accordance with the approved CSR Plan. Any surplus arising from any CSR Programmes shall be used only for CSR purposes. Accordingly, any income arising from CSR Programmes will be netted off from the CSR expenditure and such net amount will be reported as CSR expenditure.
    5. The CSR Committee shall submit half yearly reports to the Board on the progress of implementation of CSR projects, amount of CSR expenditure required and incurred in the reporting period. It shall cause adequate publicity to be made for CSR activities of the Company wherever feasible like on its web site and intranet etc.
  5. General:

    1. Any or all provisions of the CSR Policy would be subject to revision / amendments in accordance with the guidelines / notifications / circulars / orders / rules as may be issued from Government, from time to time.
    2. The Company reserves the right to modify, cancel, add or amend any provisions of the policy as mentioned hereinabove.
    3. This CSR Policy has been approved by the Board of Directors of Rothe Erde India Pvt. Ltd. in the Board Meeting dated 30/07/2015.