CORPORATE WARRANTIES INDIA PRIVATE LIMITED

This Corporate Social Responsibility Policy (“the CSR Policy”) has been framed by Corporate Warranties India Private Limited (the Company) in accordance with Section 135, Schedule VII of the Companies Act, 2013 and CSR Rules issued by the Ministry of Corporate Affairs on February 27, 2014.

1. Company Philosophy for CSR Policy

Companies Act, 2013 has formally introduced the Corporate Social Responsibility to the dashboard of the Indian Companies. Corporate Warranties India Private Limited is much positive and appreciate the decision taken by the Government of India. The legal framework of CSR is an edge to Corporate Charitable/reformative approach towards the Society to which the Corporate is belonging to. By introducing separate section for CSR in Companies Act, 2013, the Government has given legal recognition to their community development approach.

The management of the Company expresses its willingness and support to the CSR concept, its legal framework and shall be abided to it.

2. Corporate Social Responsibility Committee

The Company has constituted the following orate Social Responsibility Committee (“the Committee”) comprising of following two Directors.

1. Shruti Jaswal - Chairman
2. Himmat Kumari - Member

Board of Directors of the Company may re-constitute the Committee, as and when required to do so, by following the sections, sub-sections, rules, regulations, notifications issued or to be issued, from time to time, by the Ministry of Corporate Affairs or the Central Government of India. The Committee shall exercise powers and perform the functions assigned to it by the Board of Directors of the Company pursuant to section 135 of the Companies Act, 2013 and CSR Rules notified with regard thereto.

3. CSR Activities

Pursuant to Schedule VII of the Companies Act, 2013, the Committee has approved the following activities as “CSR Activities” to be undertaken under the CSR policy of the Company. The Board of Directors have reviewed the said activities and express their consent to the Committee to pursue the said activities under CSR policy of the Company under section 135 of the Companies Act, 2014, Schedule VII and other applicable rules, regulations, notifications etc., issued/to be issued from time to time.

Approved CSR Activities:

• Uphold and promote the principles of inclusive growth and equitable development.
• Extending support to community development plans based on needs and priorities of host communities.
• Extend active support in areas of preventive healthcare and sanitation, education skills for employability, livelihoods and income generation, waste resource management and water conservation for host communities for enhancing Human Development Index.
• Collaborate with likeminded bodies like governments, voluntary organizations, and academic institutes in pursuit of our goals.
• Ensure environmental sustainability by adopting best ecological practices and encouraging conservation/judicious use of natural resources.
• Create positive awareness towards the need to adopt measures that lead to reducing carbon footprints, dependence on fossil fuels and promote alternate energy approaches.
• Work towards mainstreaming the marginalized segments of society by making meaningful difference in their lives.
• Interact regularly with stakeholders and review our CSR initiatives.
• Eradicating hunger, poverty and malnutrition, [‘‘promoting healthcare 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 through any other charitable organization also.
• 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 art and handicrafts.
• measures for the benefit of armed forces veterans, war widows and their dependents, [ Central Armed Police Forces (CAPF) and Central Para Military Forces (CPMF) veterans, and their dependents including widows].
• training to promote rural sports, nationally recognized sports, paralympic sports and Olympic sports
• contribution to the prime minister's national relief fund [or Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)] or any other fund set up by the central govt. for socio economic development and relief and welfare of the schedule caste, tribes, other backward classes, minorities, and women.
• (a) 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
• (b) 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).

Budget for CSR Activity& CSR Expenses:

The Company shall allocate the budget for CSR activities. The minimum budgeted amount for a financial year shall be 2% of the average net profit of the three immediately preceding financial years. The Company may allocate more fund/amount than the amount prescribed under section 135 of the Companies Act, 2013, for the CSR activities for any financial year. The Committee shall calculate the total fund for the CSR activities and recommend to the Board for their approval. The Board shall approve the total fund to be utilized for CSR activity for the respective financial year.

CSR expenditure shall include all expenditure including contribution to corpus for projects or programs relating to CSR activities approved by the Board on the recommendation of its CSR Committee but does not include any expenditure on an item not in conformity or not in line with activities which fall within the approved CSR activities.

4. Identification of activities/projects

Out of approved CSR activities, the Committee shall decide as to which activity/project should be given priority for the respective financial year. While arriving at the decision about the activity to be undertaken for the respective year, the Committee shall analyze the basic need of the community/ area in which the Organization operates or at the place where its registered office is situated. The Committee shall record its findings and prioritize the CSR activities.

5. Implementation process

After prioritizing the activity, the Committee shall finalize the detailed implementation project/programme, including planning for expenses against the total budget allocated for CSR activities.

6. Organizational Responsibility

At organizational level for implementation of agreed CSR activity, the committee may constitute an implementation team or authorize any of the Department of the Company to organize for the implementation of the CSR activity. The team or respective department shall monitor the implementation process from time to time, on behalf of the CSR committee and place a report to the Committee regarding the progress of the activity implementation, on a quarterly basis. The respective department or implementation team would be responsible for reporting any irregularity to the Committee on an immediate basis.

7. Monitoring by the Board

The Board of Directors shall constantly monitor the implementation of the CSR activities. The CSR committee shall place a progress report, including details of expenses, before the Board on a quarterly basis. The Board shall review the same and make recommendations, if any, to the committee with regard to implementation process.

8. Compliance and Reporting to Board

The Committee is responsible for undertaking CSR activities as per the approved CSR Policy. Apart from quarterly reporting to the Board about the implementation of CSR activity, a detail report containing the implementation schedule, total budget allocated, actual expenses incur, surplus arising, if any, result achieved, further work to do in the concern CSR activity, Recommendation for the CSR activities for next year etc. should be placed before the Board for its consideration. Any surplus arising out of the funds allocated for CSR activity shall not be part of the business profit of the Company.

9. Management Commitment

Our Board of Directors, our Management and all our employees subscribe to the philosophy of compassionate care. We believe and act on an ethos of generosity and compassion, characterized by a willingness to build a society that works for everyone. This is the cornerstone of our CSR policy.

Our Corporate Social Responsibility policy conforms to the relevant section of the Corporate Social Responsibility, Rules made under Companies Act, 2013 and amendment(s) to be made thereto in future.