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CSR Policy

Philosophy

India, an increasingly important player in the emerging global scenario is still ┬áhome to the largest number of people living in absolute poverty and the largest number of undernourished children. With illiteracy remaining a major hurdle, growing population coupled with economic development and increasing urbanization is also creating problem of environment, public health, food security and infrastructure. Corporate Social Responsibility (CSR) was introduced in India to address these concerns. While there may be no single universally accepted definition of CSR, each definition that currently exists underpins the impact that businesses have on society at large and the societal expectations of them. Quoting the definition from the World Bank Group, “Corporate social responsibility is the commitment of businesses to contribute to sustainable economic development by working with employees, their families, the local community and society at large, to improve their lives in ways that are good for business and for development.”

Preface

Corporate Social Responsibility is not new to TIL and is an integral part of TIL’s Corporate Vision. The Company is committed to being a good corporate citizen. TIL believes that an organization cannot be sustainable over long term if it doesn’t accept its responsibilities towards society and environment. CSR at TIL is considered as an investment rather than an expense and goes beyond mere compliance or ethical conduct.

TIL is committed in its responsibility towards the community, society and environment. Whether it is caring for the safety of our fellow employees, improving the communities in which we live and work, or sustaining the environment we all share, TIL is continuously engaged in good corporate citizenship. TIL believes that a responsible approach to developing relationships among the communities it serves is an important part of delivering business success.

Acting responsibly while conducting business plays a key part in winning the trust of our stakeholders and building a successful and sustainable business in the long term. The stakeholders include our customers, employees, investors, suppliers, the community and the environment. TIL remains committed to be transparent and honest in communicating its CSR strategies, performance and governance to its stakeholders.

Objective

The objective of this policy is to provide the basic standards and opportunities relating to the conduct of Corporate Social Responsibility (CSR) by TIL Limited. Our Corporate Social Responsibility policy conforms to the Corporate Social Responsibility Guidelines spelt out by the Ministry of Corporate Affairs, Government of India.

Management

A Sub-Committee of the Board named as “Corporate Social Responsibility Committee” has been constituted by the Board for undertaking various welfare measures as specified under Schedule VII to the Companies Act, 2013.

The Sub-Committee has Mr. S. Mazumder as Chairman and Dr. T. Mukherjee & Mr. R. L. Gaggar as its Members.

The terms of reference of the Sub Committee as prescribed under the Act and the Rules made thereunder include the following:

  • To formulate and recommend to the Board, a Corporate Social Responsibility Policy, which will indicate the activities to be undertaken by the Company as well as the amount of expenditure to be incurred on the activities referred in the said policy.
  • To monitor Corporate Social Responsibility Policy from time to time.
  • To prepare a transparent monitoring mechanism for ensuring implementation of the projects/programs/activities proposed to be undertaken by the Company.

Identification & Implementation

The CSR Committee shall identify CSR projects in a participatory manner, in consultation with the community and NGOs it works with. Depending upon the project need, TIL shall form partnerships with the Government, Chambers of Commerce, district authorities, the village panchayats, NGOs and other like-minded stakeholders. This would help widening TIL’s reach and leverage upon the collective expertise, and experience of such partnerships.

Each project and initiative TIL undertakes shall be monitored closely by the CSR Committee until completion and report generation. This shall be further evaluated for eligibility and scope for sustaining as on- going project.

According to the provisions of the Companies (Corporate Social Responsibility Policy) Rules, 2014 the Board of a Company may decide to undertake CSR activities approved by the CSR Committee, through a registered trust established by the Company. The Company, therefore, has decided to carry out all its CSR activities through the Company’s trust named TIL Welfare Trust. All budgets allocated for CSR activities in TIL shall be implemented through the TIL Welfare Trust.

TIL Welfare Trust

TIL Welfare Trust initiated by Mr. Avijit Mazumder, Chairman Emeritus, TIL Limited, is a registered Trust and was formed in 1994. The Trust is exempted u/s 80G (5) (vi) of the Income Tax Act, 1961. All CSR activities of the Company are carried out by TIL Welfare Trust.

Main objectives of the Trust aligned with the overall CSR strategy of the Company, are:

  • To provide financial, educational and medical relief to the poor, underprivileged and BPL section of the society.
  • To establish, maintain and grant aid or other financial assistance to homes, orphanages or establishments for relief and / or to give help to the poor and underprivileged.
  • To provide relief to poor, education, medical and advancement of objects of general public utility and all such objects which may be recognized as charitable objects of public nature under the provision of the Income Tax Act, 1961.
  • To encourage further academic pursuit of children, the trust awards scholarships for graduate and post graduate education in India and abroad in technical / medical institutions or universities and management education. The duration of each scholarship is based on the course selected and subject to a maximum period of 4 years.
  • To grant relief during natural and national calamities, such as earthquakes, floods, famines, fire, pestilence and to give donations to establishments or persons doing such relief work.
  • To render assistance and grant aid to public charitable / welfare trusts or institutions, Chief Minister / Prime Minister’s Relief Fund for general public welfare.
  • To do any other act for advancement of general public utility, without distinction of caste, color and creed.

Key Focus Areas

Education is the most significant indicator of social progress, which also plays a decisive role for a society to achieve self-sustainable and equal development. With an increasing global realization of how business community can (and should) contribute to social objectives, education deserves a higher level of corporate involvement than status quo. In short, educational issues are essential for human progress, societal development, and the creation of a healthy economic environment. TIL aims to reach out to the underprivileged and backward sections children in the communities we work in as well as partner with NGOs who work in the field of education.

Being a good corporate citizen, TIL is committed to behave ethically and contribute in improving the quality of life and social well-being of the local community as well as the society at large. TIL endeavors to render quality healthcare facilities to people living below the poverty line. Also, the Company always responds to emergency situations and disasters by providing timely help to affected victims and their families.

TIL realizes the need for empowerment of Women & Girl child. Women, since ages have silently witnessed the significant changes in society whether its the country’s freedom, agricultural development, modernization, liberalization, privatization & globalization but one thing which has not changed satisfactorily is gender inequality in Indian society. Women related issues need important attention from government, society and especially from corporate sector. Corporate social responsibility towards women empowerment can become a ray of hope in many ways, right from changing the attitude towards women in the society to making women independent financially, physically and socially and enabling them to stand on their feet.

TIL endeavors to take a proactive role in minimizing the harm done to the natural resources it shares, promote products and services that are compliant by environmental standards and propagate safe processes across our operations and processes. Our environment policy steers the whole organization to minimize our ecological footprint and mitigate the impact of our operations.

Governance

1. Every year, the CSR Committee shall place for the Board’s approval, a CSR Policy delineating the CSR Programs to be carried out during the financial year and the specified budgets thereof. The Board shall consider and approve the CSR Policy with any modification that may deem necessary.

2. The CSR Committee shall assign the task of implementation of the CSR Policy within specified budgets and timeframes to TIL Welfare Trust.

3. TIL Welfare Trust shall carry out such CSR programmes as determined by the Board within specified budgets and timeframes and report back to the CSR Committee on the progress thereon at such frequency as the Committee may direct.

4. At the end of every financial year, the CSR Committee shall submit its report to the Board.

Information Dissemination

The Company’s engagement in this domain is disseminated on its website, annual reports, and its house journals and through the media.

For and on behalf of the Board of Directors

Sumit Mazumder
Chairman & Managing Director

Contact Us

TIL Limited

1, Taratolla Road,
Garden Reach,
Kolkata 700 024, West Bengal
Phone: +91 33 2469 3732-6
Fax: +91 33 2469 2143, 3731

Toll Free Number:

+1800 265 1535

Email:

mktg-til@tilindia.com

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