Corporate Social Responsibility (CSR) refers to strategies that companies put into action as part of corporate governance that are designed to ensure the company's operations are ethical and beneficial for society. Consequently, Corporate Social Responsibility (CSR) is the concept of "Giving-Back" to society. Operating in the community and taking resources from it makes companies accountable to society.
Following the same principle, Section 135 of the Companies Act, 2013 was made applicable to companies with an annual turnover of Rs. 1,000 crore or more or a net worth of Rs. 500 crore or more or a net profit of Rs. 5 crores or more during the immediately preceding financial year.
The companies falling under the prescribed criteria must spend a minimum of 2% of their average net profit for its preceding three financial years towards CSR activities.
The provisions apply to the Company, and as required under the Companies Act, 2013, TradeImpex Polymers India Pvt. Ltd. has formulated its CSR policy and performs CSR activities accordingly
Activities Approved For Fy 2021-22
An amount of Rs. 7,38,874/- was approved by the Board of Directors of TradeImpex Polymers India Pvt. Ltd. for CSR activities for FY 2021-22. TradeImpex Polymers India Pvt. Ltd. spent the amount on the following activities-