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“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.”
Corporate Social Responsibility of Eastern is broadly framed taking into account the following measures:-
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.
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.
Composition of the CSR Committee
The members of the CSR Committee are as follows:
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
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
Promoting nationally recognized Sports
5. Rural Development
Infrastructure support to nearby villages