corporate social responsibility

Philosophy

At Akshara Industries Private Limited, we believe that the well-being of our people, the community, and the environment are vital to our business philosophy. Our approach to Corporate Social Responsibility (CSR) reflects our deep commitment to enhancing lives through education, health, rural infrastructure, environmental sustainability, sports, and disaster relief.

We are committed to conducting our business with integrity and accountability, aligning with our values and societal expectations. This CSR Policy is formulated in accordance with Section 135 of the Companies Act, 2013, and the applicable rules and amendments thereunder.

CSR has long been part of Indian corporate culture, with several industrial leaders involved in social development for decades. However, the Companies Act, 2013 formally introduced CSR under a “comply or explain” mandate. Companies meeting specified thresholds are now legally required to establish a CSR Committee and undertake activities listed in Schedule VII of the Act, as per the Companies (CSR Policy) Rules, 2014.

Objective

This policy outlines Akshara Industries Private Limited’s CSR objectives and serves as a guiding framework to:

• Promote sustainable development programs.

• Contribute positively to society.

• Align CSR initiatives with Schedule VII of the Companies Act.

Scope and Coverage

CSR activities undertaken by the Company shall include, but not be limited to, sectors listed in Schedule VII of the Companies Act, 2013, as amended from time to time. The Company may periodically review and update its CSR focus areas to align with evolving community needs and legal provisions.

Constitution

The CSR Committee was constituted by the Board on 17th May 2014. It is responsible for formulating, recommending, and monitoring the CSR Policy and related activities.
Members of the Committee:

The Committee is vested with the following powers and responsibilities:

• Formulate and recommend the CSR Policy to the Board.

• Recommend CSR activities in line with Schedule VII.

• Collaborate with group companies, NGOs, or other entities for CSR initiatives.

• Recommend the annual CSR Budget.

• Oversee implementation and ensure transparency in monitoring.

• Submit activity reports to the Board.

• Authorize internal working groups for execution and monitoring.

• Review and modify the CSR Policy periodically.

• Minimum of two meetings annually.

• Members may decide meeting schedules mutually.

• Quorum: One-third of the Committee or at least two members, whichever is higher.

• Participation can be in person or via video conferencing/audio-visual means.

As per the Companies Act, 2013, eligible companies must allocate at least 2% of their average net profits (calculated under Section 198) from the preceding three financial years towards CSR activities listed under Schedule VII.

CSR expenditure includes contributions to corpus or projects approved by the Board based on the Committee's recommendations. However, it shall not include expenditure unrelated to Schedule VII activities or activities outside India.

If the required CSR amount is unspent in any financial year, the Committee must provide written reasons to the Board, which shall disclose the same in the Annual Report.
Note: Any surplus from CSR projects will not be added to company profits.

CSR activities shall be undertaken as per the Annual CSR Plan, prepared and recommended by the Committee. The Plan may be revised or modified during the year based on emerging needs.

The Plan shall include:

• Project Proposals

• Target Beneficiaries and Key Needs

• Alignment with Schedule VII

• Project Goals, Milestones & Closure Timelines

• Budget & Financial Projections

• Monitoring Mechanism

• Progress Reports & Frequency

• Risk Mitigation Strategies

• Any additional requirements by the Committee

In accordance with the CSR Rules, the Company may collaborate with other companies or associations for joint CSR projects. Such collaborations must be approved by the CSR Committee and reflected in the Annual CSR Plan.

• The CSR Policy shall be disclosed in the Board’s Report and uploaded on the Company’s website (if available).

• The Board may revise the CSR Policy based on Committee recommendations or legal updates from the Government of India.

Our Board, management, and employees share a unified vision of building an educated and environmentally conscious society. This policy reflects our ongoing commitment to societal development through collective effort.

The CSR Policy shall be reviewed by the Committee periodically to incorporate changes due to regulatory updates or internal strategic shifts. All changes must be approved by the Board of Directors.