Master CSR Policy Document of
Ludhiana Beverages Private Limited
(As approved by the Board at its meeting held on June 10, 2014)
1. Preamble
At Ludhiana Beverages Private Limited (LBPL), our CSR initiatives emphasize our responsibilities not only to our stakeholders but also to the larger communities where we operate.
2. Title & Applicability
2.1 This policy outlines the company’s approach as a corporate citizen and lays down guidelines for implementing socially useful programs. This policy is called the “LBPL CSR Policy”.
2.2 This policy complies with Section 135 of the Companies Act, 2013 and the Companies (Corporate Social Responsibility Policy) Rules, 2014.
2.3 This policy shall be effective from the date it is approved by the Board of Directors of LBPL.
3. Definitions
3.1 Terms used in this policy are defined as follows:
- (a) “Act” – Companies Act, 2013
- (b) “Board” – Board of Directors of the Company
- (c) “CSR Committee” – Committee defined under Section 135
- (d) “CSR Activities” – Activities as per this Policy
- (e) “CSR Rules” – CSR Rules, 2014 and amendments
- (f) “Company or LBPL” – Ludhiana Beverages Private Limited
3.2 Terms not defined here shall have the meaning assigned under the Act and Rules.
4. CSR Vision Statement and Guiding Principles
LBPL is committed to sustainable development, benefiting present and future stakeholders and contributing positively to the communities it serves.
5. Resources
5.1 Funding & Allocation
- 2% of average net profits from the last 3 financial years
- Income arising from CSR initiatives
- Surplus from CSR projects (not business profits)
5.2 Mode of Implementation
- Direct implementation by the company
- Registered Trusts/Societies/Section 8 Companies with 3+ years track record
- Collaborations with approved partners
6. CSR Plan
LBPL shall prepare its Annual CSR Plan at the beginning of each financial year based on available resources. The plan will follow Schedule VII of the Companies Act and exclude normal business activities.
7. CSR Committee
7.1 Members of the CSR Committee:
- Mr. Upendar Goenka (Chairman)
- Miss Shalini Goenka
- Mr. Panna Lal Goenka
7.2 Responsibilities:
- Formulate and update CSR policy
- Recommend areas for intervention
- Approve projects aligned with the policy
- Monitor project implementation
- Recommend CSR expenditure
8. Implementation
- 8.1 The implementation timeline will vary by project scope and impact.
- 8.2 Programs will encourage local community involvement and coordination with government bodies.
- 8.3 Priority will be given to areas local to operations.
- 8.4 Long-term programs shall define:
- a) Objectives
- b) Baseline surveys
- c) Timelines
- d) Responsibilities
- e) Expected outcomes
- 8.5 Approval Powers:
- a) CSR Committee recommends projects and budgets
- b) Board approves policy and budget
- c) Board ensures legal compliance
- d) Board may delegate powers for urgent execution
9. Monitoring & Feedback
- 9.1 Progress to be reported quarterly to the CSR Chairman
- 9.2 CSR Committee to review projects at least twice a year
- 9.3 CSR Policy will be available on the company website
- 9.4 Annual CSR Report will form part of the company’s Annual Report
10. General
- 10.1 For clarification, refer to the CSR Committee
- 10.2 The company reserves the right to modify the policy as per the Companies Act and CSR Rules