“Eastern Condiments Pvt Limited, as a good Corporate Citizen, is committed to remain as a responsible Corporate entity, conscious of its social responsibilities to all stakeholders including the Govt., clientele, shareholders, employees, local community and society at large and shall be allocating a part of its earnings towards implementation of programs aimed at furtherance of the welfare of the Society at large.”
CSR Projects/Programs:
Corporate Social Responsibility of Eastern is broadly framed taking into account the following measures:-
- Welfare measures for the community at large.
- Contribution to the society at large by way of the CSR projects/Programs aiming at:
- Eradicating hunger, poverty and malnutrition, promoting preventive health care and 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 centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups;
- Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water;
- 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 recognised sports, paralympic 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;
- Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government;
- Rural development projects.
CSR Corpus Fund:
As per Section 135of the Companies Act 2013and the Companies (Corporate Social Responsibility Policy) Rules, 2014, at the beginning of every year Eastern shall constitute a CSR Corpus fund by way of transferring such percentage of net profit as per the rules provided therein.
CSR Fund utilisation:
CSR committee set up by the company will identify, deliberate, and recommend the CSR projects/programs to be undertaken during the year which are covered by Schedule VII of the Act and the proportion of the amounts to be spent out of the CSR Corpus Fund against each of the major identified programs. Such spends shall meet the minimum spend threshold criteria and shall be against the specified CSR projects enumertaed in Schedule VII of the Act. Board will consider and approve the programs out of the recommended programs and will authorize the CSR Committee to implement the same.
Implementation process:
The approach of Eastern towards CSR will be oriented to identify and formulate projects in response to the need of society and to implement them with full involvement and commitment in a time bound manner.
The Board of Eastern will be implementing its CSR projects/programs in any of the following ways. The CSR committee and the approvals made by the Board will base the mode of annual programs implementation on the recommendations.
- Directly by the Company, as per the CSR policy, as projects or programs or activities (either new or ongoing) clearly excluding those activities undertaken in pursurance of its normal course of business
- Through a registered trust/society formed by the company or its subsidiary/associated company.
- Any other trust/society having an established track record of at least three years
- Collaborating with other companies or registered NGOs for undertaking CSR activities.
Composition of the CSR Committee
The members of the CSR Committee are as follows:
- Mr. Navas Meeran – Chairman
- Mr. Feroz Meeran – Member
- Mr. Ankur Kumar Bhaumik – Member
The CSR initiatives of the Company focuses on Health, Education, Women Empowerment, Sports and Rural Development.
List of Projects approved for the financial year 2021-22: 1. HealthPurchase of ventilators Dialysis Challenge Cancer prevention 2. Education Purchase of study materials for unprivileged schoolchildren 3. Women Empowerment Initiative towards equality, empowerment of women Job-linked skills & livelihood enhancement for women in rural & urban locations 4. Sports Promoting nationally recognized Sports 5. Rural Development Infrastructure support to nearby villages