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CSR Policy

Objective

The Company’s CSR policy intends to:

  • Strive for economic development that positively impacts the society at large with minimal resource footprint.
  • Embrace responsibility for the Company's actions and encourage a positive impact through its activities on hunger, poverty, malnutrition, environment, communities, stakeholders and the society.

Focus areas

In accordance with the requirements under the Companies Act, 2013, the Company’s CSR activities, amongst others, will focus on:

  • Hunger, poverty, malnutrition and health: Eradicating extreme hunger, poverty and malnutrition, promoting preventive healthcare and sanitation and making available safe drinking water.
  • Education: Promoting education, including special education and employment-enhancing vocational skills especially among children, women, elderly and the differently abled, and livelihood enhancement projects; monetary contributions to academic institutions for establishing endowment funds, chairs, laboratories, etc., with the objective of assisting students in their studies.
  • Rural development projects: Strengthening rural areas by improving accessibility, housing, drinking water, sanitation, power and livelihoods, thereby creating sustainable villages.
  • Environmental sustainability: Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro-forestry, conservation of natural resources and maintaining the quality of soil, air and water.

Undertaking CSR activities

EFL will undertake its CSR activities, as approved by the CSR Committee or such other entity/organization as approved by the CSR Committee.

The surplus arising out of the CSR activities, projects or programs shall not form part of the business profit of the Company.

Location of CSR efforts

The CSR committee will decide on the locations for CSR activities.

Goals

Sr. No.

Goal Area

Action

1

Hunger, poverty malnutrition and healthcare

EFL will work with various non-profit organizations that run mid-day meal programs in schools across India that provide meals to schoolchildren.

EFL will work with organizations working in medical or health-related projects such as providing support for cancer treatment, cataract surgeries, etc.

2

Education

EFL focus on education will be on two fronts:

(A)To train students from under privileged backgrounds in its various development centers.

(B) Provide grants to various colleges in India for improving their infrastructure. Sponsor chairs for physically challenged students and create endowment funds for the colleges/universities to assist students with their studies

3

Rural Development

We believe that the well-being of people living in rural areas ensures sustainable development. We will work with local administrations to achieve community development goals. We will partner with governments and NGOs and support them in improving infrastructure such as constructing roads, providing drainage systems and electricity, and rehabilitating natural-disaster­ affected victims in rural areas.

4

Environmental sustainability

EFL will, among other things, focus on environmental sustainability, ecological balance and protection of flora and fauna.

Composition of committee

The CSR Committee shall consist of the following directors:

1.

Ms. Shilpa Pophale

Managing Director

2.

Dr. (Mrs.) Priya Dharmadhikari

Director

3.

Mr. T. V. Rao

Independent Director

Responsibilities of the committee

  • Formulating and recommending to the Board of Directors, the CSR Policy and indicating activities to be undertaken
  • Recommending the amount of expenditure for the CSR activities
  • Monitoring CSR activities from time to time.

Governance

The Company can undertake CSR activities as per the provisions of the Companies Act, 2013. Accordingly, CSR Committee has identified the areas of CSR activities, programs and execution of initiatives as per defined guidelines. CSR Committee will also report to the Board regarding the progress of deployed initiatives and in making appropriate disclosures (internal/external) on a periodic basis.

Funding, selection and monitoring process

The Company will receive requests for funding of projects throughout the calendar year. The Company’s panel of experts will evaluate proposals received under the focus areas and projects will be prioritized by assessing their impact and will then forward its recommendations to the CSR Committee. The CSR Committee will deliberate on the proposals and approve proposals for implementation at its discretion.

Effective date

This policy is effective from 1 April 2014.