Continental Warehousing Corporation (Nhava Seva) Limited
Corporate Social Responsibility Policy
Continental Warehousing Corporation (Nhava Seva) Limited (CWCNSL) is committed to operate and grow its business in a socially responsible way. We seek to constantly improve our understanding of the impact of our operations and take an active role towards contributing to lasting environmental benefits.
This policy outlines our Corporate Social Responsibility agenda. CWCNSL would work towards developing sustainable communities with strategic community investments to reduce disadvantages and ensuring basic facilities and livelihood improvements. We would also contribute towards reduction of business impacts on the environment through innovation, new technologies and behavioural change. All the activities undertaken would be in accordance to the activities listed in the Schedule VII of Section 135 of the Companies Act, 2013.
Corporate Social Responsibility (CSR) Principles
CWCNSL’s CSR Policy is supported by the following principles:
- We are committed to play a significant role in the communities in and around our Business Operations and leverage the talent of our employees to contribute to a sustainable future.
- We would collaborate and engage with different stakeholders including Governments, NGOs to design projects / programs that are in accordance with Section 135(5) of the Companies Act, 2013 (the Act).
- The company would undertake the CSR activities by making contributions to Foundations or other not for profit organizations including specific funds like The Prime Minister’s Relief Fund; or by partnering with organizations that have impeccable track record of service, performance and accountability.
- In accordance with Section 135(5) of the Companies Act, 2013 (the Act), CWCNSL is committed to spend at least 2% of its average net profits made during the three immediately preceding financial years in some of the identified activities that are listed in Schedule VII (as amended) to the Act.
We follow structured governance procedures to monitor CSR activities. Our CSR Policy is governed by the Board of Directors of the Company. The Board of Directors of the Company has constituted a Corporate Social Responsibility Committee (CSR Committee) from within its Board of Directors. The CSR Committee shall recommend and monitor the CSR Policy, activities / programs and the amounts spent on such activities / programs and advise to the Board of Directors.
The Company through a registered trust or a registered society or a company established by the company or its holding or subsidiary or associate company under section 8 of the Act or otherwise or by itself (“such entity”), undertake CSR activities as per the provisions of the Act. Accordingly, such entity will work closely with and support the Board and CSR Committee in indentifying the areas of CSR activities and implementing CSR activities of the Company.
The activities undertaken by the company are not expected to lead to any additional surplus beyond what would accrue to the company in the course of normal operations.
The company shall also upload this Policy on its website. Further, a detailed status report on CSR activities carried out by the company will be disclosed every year as part of the Directors’ Report in the Annual Report. The said information will also be uploaded on the website of the company.
Any or all provisions of the CSR Policy would be subject to revision / amendment by the Board of Directors based on the recommendations of the CSR Committee or else in accordance with the guidelines on the subject issued from time to time.
CWCNSL – CSR Policy – Adopted by the Board