Corporate Social Responsibility (CSR) Policy

Objective

Chimes Aviation Private Limited (“CAPL”/“Company”) is involved in various Corporate Social Responsibility (“CSR”) activities. The objective of CSR Policy of CAPL is to lay down guidelines to bring effectiveness in its CSR activities which are being undertaken to assist in the sustainable development of the society. CAPL strives to actively contribute to the social and economic development of the communities in which it operates. The Company believes in making sustained efforts towards:

  • Promoting education, including special education and employment enhancing vocational skills specially for children, women, and the differently abled (particularly, though not limited to, areas of formal, informal and vocational education and training, rehabilitation, and mainstreaming of differently abled);
  • Eradicating poverty and malnutrition, promoting health care and sanitation;
  • Setting up homes and hostels for orphans and the elderly;
  • Promoting healthcare assistance, including disseminating knowledge and spreading awareness regarding preventive care, hygiene and cleanliness, imparting education in health sciences, promoting public interest in research and science; and
  • Sports and skill training, including development of opportunities for those with special educational needs and disabilities.

CAPL practices its corporate values with a commitment to grow in a socially and environmentally responsible way, while meeting the interests of its stakeholders.

This CSR Policy is being articulated in compliance with Section 135 of the Companies Act, 2013 and the Rules made thereunder.

CSR Activities, Projects and Programs

The Company shall spend 2% of the average net profits made during the three immediately preceding financial years on CSR activities and in case it is not able to do so, shall report the same in the Directors Report, along with reasons for not spending the amount.

The CSR activities of CAPL will be carried out directly by the Company or through a Registered Public Trust, a Registered Society registered under section 12A and 80G of the Income Tax Act, 1961, and having an established track record of at least three years in undertaking similar activities.

CAPL may also collaborate with other Companies for undertaking CSR activities in such manner that the CSR Committees of respective Companies are in a position to report separately on such projects or programs.

The Board should ensure that the administrative overheads shall not exceed five percent of total CSR expenditure of the company for the financial year.

Every entity, stated herein above, who intends to undertake any CSR activity, shall register itself with the Central Government by filing the form CSR-1 electronically with the Registrar, with effect from the 01st day of April 2021. And on the submission of the Form CSR-1 on the portal, a unique CSR Registration Number shall be generated by the system automatically.

The activities that can be undertaken by the Company on CSR shall be as specified in Schedule VII to the Companies Act, 2013, as amended from time to time and shall include the following:

  • 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;
  • Setting up homes and hostels for orphans and the elderly;
  • 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, agro forestry, conservation of natural resources and maintaining quality of soil, air and water;
  • Protection of national heritage and 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 dependants;
  • Training to promote rural sports, nationally integrated sports, paralympic sports and Olympic sports;
  • Contribution to Prime Minster Relief fund or any other fund set up by the Central Government for socio-economic development and relief and welfare of the Scheduled Castes, Scheduled Tribes, Other Backward Classes, minorities and women;
  • Contributions or funds provided to technology incubators located within academic institutions which are approved by Central Government;
  • Rural development projects.

CAPL’s Board of Directors will approve the afore-mentioned activities to be undertaken as part of CSR.

Modalities of execution of CSR activities, projects and programs

CAPL shall undertake the CSR activities, as per its stated CSR Policy, as projects or programs or activities (either new or on-going), excluding activities undertaken in pursuance of its normal course of business. CAPL may build CSR capacities of its own personnel as well as those of their Implementing Agencies through Institutions with established track records of at-least three Financial years.

CSR Committee not applicable on CAPL

As per the provision of Section 135 (9) of the Companies Act, 2013, the amount to be spent by CAPL under sub-section (5) of Section 135 does not exceed fifty lakh rupees, the requirement under sub-section (1) of Section 135 for constitution of the Corporate Social Responsibility Committee is not applicable. That the functions of such Committee provided under section 135 shall be discharged by the Board of Directors of CAPL.

Monitoring process of such projects or programs

The programs will be monitored by the Board of Directors of the Company.

Surplus arising out of CSR activities/projects/programs

Surplus arising out of CSR activities, projects or programs shall not form part of business profits of the Company.

Disclosure in Board’s Report

The Board’s Report of CAPL pertaining to a Financial Year commencing on or after 1st April, 2020 shall include an Annual Report on CSR activities, as per the provisions of Companies Act, 2013. CAPL shall display its CSR Policy on its website.

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