CORPORATE SOCIAL RESPONSIBILITY POLICY
SCOPE:
The Corporate Social Responsibility (“CSR”) Policy extends to the whole of India. This policy applies to Tredence Analytics, except where modified by applicable law or regulation.
PURPOSE:
The following policy is designed to describe the necessary guidelines and procedures for TREDENCE offices when making contributions/donations under the Companies Act, 2013. The purpose of the policy is to encourage and facilitate organized and approved contributions/donations at all levels in keeping with TREDENCE’ strategic priorities.
POLICY:
TREDENCE believes it is incumbent on the company to give back to the communities in which it operates. The objective of the CSR Policy is to lay down the guiding principles in undertaking various programs and projects by or on behalf of the company relating to Corporate Social Responsibility (“CSR”) within the meaning of section 135 of the Companies Act, 2013 read with Schedule VII of the Act and the CSR Policy Rules 2014. (“Rules”).
TREDENCE’ philanthropic outreach is guided by three strategic priorities:
- Education: To promote meaningful systemic work in education for socially disadvantaged sections of the society
- Empowerment: To support the socio-economic empowerment of underprivileged communities - youth at risk, youth with disabilities, women at risk etc. by equipping them making them job ready
- Environment: To engage with the community and civic bodies on issues of Ecological Sustainability (prime focus on urban ecology).
It is TREDENCE’ intent that philanthropic endeavors within India in supporting organizations and activities shall be related to our strategic priorities. TREDENCE may also set up an eligible project or scheme for promotion of social and economic welfare of, or the upliftment of the public, which is in line with the priorities stated above. The corporate philanthropy program will be administered at the TREDENCE board level by the CSR Committee.
CSR BUDGET
The Board shall ensure that a minimum of 2% of the average net profits of the Company for the last 3 years is spent on the CSR programs/activities of the Company. All expenditure towards the CSR programs/activities will be diligently documented. The surplus, if any, arising out of CSR initiatives of the Company shall not form part of the Company’s business profits.
CSR COMMITTEE AND CSR WORKING GROUP:
Composition of the CSR committee shall be as per the Companies Act, 2013 (the “CSR Committee”). The CSR Committee will periodically review, monitor and update the Board about ongoing and any new CSR projects or programs.
Roles & Responsibility of the CSR Committee
- Formulate the CSR Policy and seek approval of the Board.
- Review the Policy on a yearly basis and make necessary changes from time to time, as required.
- Formulate and share the CSR action plan with budget for the year with the Board and seek approval.
- Implement the activities either through the implementation partner or directly through its internal team.
- Spend the allocated amount on CSR activities once approved by the Board and create a transparent monitoring mechanism of CSR initiatives.
- Hold periodic meetings and have their decisions approved/ratified by the Board from time to time.
Composition of the CSR Committee
The CSR Committee is constituted with the following members:
- Pratap Daruka, Executive Vice President
- Soumendra Mohanty, Executive Vice President
- Rekha Nair, Sr Director HR
- Santhosh C, Director
- Munaswamy K, Director
- Sandesh Mathivannan, Director
Composition of the CSR Committee
- Providing research, education, or direct services in one of our strategic priority areas, but not including the activities undertaken in pursuance of normal course of business of TREDENCE;
- Track record of efficient administration;
- Track record of successful outreach, interventions, and service delivery;
- A registered trust;
- A registered society;
- A public-sector company or a local authority or an association or institution approved by the National Committee for carrying out any eligible project or scheme under section 35AC of the Income-tax Act, 1961; or
- An entity established by a group other than TREDENCE or its holding or subsidiary or associate companies whether a not for profit company, trust, society or otherwise. Such entities shall have a track record of at least (3) three years in undertaking similar program or projects.
Corporate charitable contributions/donations funds may not be used for the following:
- Providing research, education, or direct services in one of our strategic priority areas, but not including the activities undertaken in pursuance of normal course of business of TREDENCE;
- Political causes, candidates, organizations, or campaigns, including Political Action Committees.
- An actual or perceived inducement or bribe
- In lieu of payment for goods or services.
- Travel or conferences.
- Religious, sectarian, or fraternal organizations.
- For-profit ventures
- “Goodwill” advertising in souvenir journals or dinner programs or
- For activities benefiting only employees
DISCLOSURE AND REPORTING:
The CSR Committee shall review the reporting requirements under the Companies Act, 2013 and CSR Rules which are to be included in the Board’s Report. Such report will be disseminated to the shareholders
