CSR Policy

CSR Policy

VIHAAN Heart Care & Super Specialty Hospital – CORPORATE SOCIAL RESPONSIBILITY POLICY

The Corporate Social Responsibility (CSR) has been an integral part of the way we have been doing our business since inception. This has also enabled us to fulfill our commitment to be a socially responsible corporate citizen.

Constitution of a Corporate Social Responsibility Committee of the Board and formulation of a Corporate Social Responsibility Policy has become mandatory under the Companies Act, 2013. Accordingly, our Company has formulated this CSR Policy which encompasses its philosophy and guides its sustained efforts for undertaking and supporting socially useful programmes.

The main objective of Company’s CSR policy is –

  • To lay down guidelines to make CSR a key business process for sustainable development of the society.
  • To directly / indirectly undertake projects / programmes which will enhance the quality of life and economic well-being of the communities in and around us and society at large.
  • To generate goodwill and recognition among all stakeholders of the company.

Definitions

In this Policy, unless the context otherwise requires:

  • “Act” shall mean the Companies Act, 2013 including any modifications, amendments or re enactment thereof.
  • “Rules” shall mean the Companies (Corporate Social Responsibility) Rules, 2014, including  any modifications, amendments or re-enactment thereof.
  • “Financial Year” shall mean the period beginning from 1st April of every year to 31st March of the succeeding year.
  • “Net Profits” shall mean the net profits of the Company as defined under the Act and the Rules based on which a specific percentage for CSR expenditure has to be calculated.
  • “Company” shall mean Vihaan Health Enterprise Private Limited.
  • “Group Companies” shall mean holding, subsidiaries, and associates of the Company.
  • “Board” shall mean the Board of Directors of the Company.
  • “Approved Budget” shall mean the total budget as approved b y the Board of the Company,  which is to be spent or utilised for CSR activities.
  • “Annual Plan” shall mean the annual planned CSR expenditure for the year.
  • “CSR Committee” shall mean the Corporate Social Responsibility Committee as constituted by the Board of Directors of the Company in accordance with the Act and the Rules made  thereunder, comprising of three or more Directors.
  • “CSR Policy” shall mean the Corporate Social Responsibility Policy of the Company, which covers the yearly activities undertaken by the Company under the policy and the CSR  Expenditure thereon.
  • “CSR Activities” shall mean all the Corporate Social Responsibility activities / programmes / initiatives of the company, either ongoing or new, including but not limited to green belt /  environmental protection / ecological balance / slum 4 rehabilitation / education / sports etc., and those specified in Schedule VII to the Act (as amended from time to time) at corporate office, project offices of the Company, its subsidiaries and associates wherever located, as recommended by the CSR Committee and approved by the Board.
  • “CSR Expenditure” shall mean all CSR expenditure as recommended by the CSR Committee and approved by Board of Directors including the following:
    • Contributions to CSR activities which shall be implemented and / or executed by the Company.
    • Contributions to CSR activities which shall be implemented through Vihaan Foundation or any other Trust / Society / Section 8 Companies / Agencies established / registered to carry on the CSR activities as defined under the Rules.
    • Contribution to the Corpus of a Trust / Society / Section 8 Companies etc., as long as they are created exclusively for undertaking CSR activities or where the corpus is  created exclusively for the purpose directly relatable to a subject covered in Schedule  VII of the Act.
    • Any other contributions covered under Schedule VII to the Act.
  • “Thrust Areas” shall mean the areas or activities ascribed to them in this Policy, as amended by the CSR Committee, from time to time. Words and expressions used and not defined in  the Policy shall have the same meanings respectively assigned to them in the Act and / or Rules.

CSR Committee

In terms of section 135 of the Companies Act, 2013 and the Rules made thereunder, the Board of Directors of the Company constituted a CSR Committee on 12th December 2014.

The CSR Committee shall, inter alia, carry out the following functions:

  • To formulate and recommend to the Board, a Corporate Social Responsibility Policy which shall indicate the activities to be undertaken by the Company as specified in Schedule VII of the Companies Act, 2013 and the rules made thereunder.
  • To recommend the amount of expenditure to be incurred on the CSR activities.
  • To monitor the implementation of framework of CSR Policy.
  • To carry out any other function as mandated by the Board from time to time and / or enforced by any statutory notification, amendment or modification, as may be applicable, necessary or appropriate for performance of its duties.

Thrust Areas

While we strive to undertake all or any suitable activity as specified in Schedule VII to the Act, currently, we focus to support and implement the following activities as our thrust areas:

  • Promoting education, including special education, and employment enhancin 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 social and economically backwards 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.
  • Training to promote rural sports, nationally recognised sports, paralympic sports, and Olympic sports.
  • Rural development projects.

TO BE CONTINUED…