Statutory Disclosures

Elin Electronics Limited (ELIN) is committed to conduct its business in a socially responsible, ethical, and environmentally friendly manner and to continuously work towards improving the quality of life of the communities in its operational areas.

Section 135 of the Companies Act, 2013, requires the Company to constitute a Corporate Social Responsibility (CSR) Committee of Directors, adopt a CSR Policy, spend at least 2% of its average net profits made during the immediately preceding three financial years towards CSR activities as set out in Schedule VII to the Companies Act, 2013 and confirm compliance thereof in the Annual Report.

Accordingly, ELIN has formulated and adopted this Corporate Social Responsibility Policy in terms of Section 135 of the Companies Act 2013 and the Companies (Corporate Social Responsibility Policy) Rules, 2014 and constituted the CSR Committee of Directors.

Role of CSR Committee

CSR Committee of the Company is responsible for:

• Formulating and recommending to the Board the CSR Policy which shall indicate activities to be undertaken in line with Section 135 read with Schedule VI of the Act and the Rules framed thereunder;
• recommending to the Board the CSR expenditure to be incurred;
• recommending to the Board, modification to CSR Policy as and when required;
• regularly monitoring the implementation of the CSR Policy and reporting to the Board.

CSR ACTIVITIES:

The scope of the CSR activities of the Company will cover the areas specified in Schedule VII to the Companies Act 2013, but not limited to the same and may extend to other specific projects/ programs as permitted under the law from time to time.

• Eradicating extreme hunger and poverty, malnutrition and promoting healthcare;
• Promotion of education and Employment-enhancing vocational skills;
• Promoting gender equality and empowering women;
• Reducing child mortality and improving maternal health;
• Ensuring environmental sustainability;
• Protection of national heritage, art, and culture;
• Training to promote rural sports, nationally recognized sports, Paralympic sports, and Olympic sports
• Contribution to the Prime Minister’s National Relief Fund or PM CARES Fund or any other fund set up by the central government or the state governments for socio-economic development and relief and funds for the welfare of the scheduled castes, scheduled tribes and other backward classes, minorities, and women;
• Rural area development projects and slum area development;
• Such other matters as may be prescribed

CSR Budget and utilization:

CSR Committee will recommend the annual budget expenditure to the Board for its consideration and approval and which amounts shall be utilized in accordance with the CSR policy.

Monitoring and Reporting Framework

The company’s CSR Committee shall monitor the implementation of the CSR Policy through periodic reviews of the approved projects. The Annual Budget and list of CSR Projects and activities shall be presented to the CSR Committee for its approval.

In compliance with the Act and to ensure funds spent on CSR Projects and activities are creating the desired impact on the ground, a comprehensive Monitoring and Reporting framework would be followed.

Employees of ELIN

Generally, the employees of ELIN will not be the direct beneficiaries of the activities undertaken with the budget allocated for CSR in any given year. However, in the case of schools, hospitals, training institutes, and other such infrastructure which primarily for environmental protection and/or for the benefit of underprivileged communities, deprived sections, and the society at large, these facilities may be availed by the employees of ELIN and their families also. The capital cost involved in the creation of such facilities and the annual cost incurred on the maintenance of such infrastructure will be borne from the CSR funds of the company.

Activities in Project mode

All activities which are selected under the CSR agenda for external stakeholders will be, as far as possible, implemented in project mode. It also involves assigning clear responsibility and accountability to the designated officials/ agencies that are entrusted with the task of implementation. Till the projects are identified, the company may undertake activities through a registered trust/society/section 8 company that has established a track record of at least three years in undertaking permissible CSR activities.