Sustainability Policy

Overview and CSR Philosophy

Abdos Oils Private Limited (“Abdos” or “Company”) believes in a philosophy of adopting sustainable business practices which are beneficial to the various stakeholders including the society. Through its corporate values, Abdos constantly endeavours to actively contribute to the social and economic development of the communities in which it operates.

Corporate a Responsibility (CSR) is the Company’s commitment to its stakeholders to conduct business in an economically, socially and environmentally sustainable manner that is transparent and ethical.

Abdos Oils Private Limited has always believed in giving back to the society and recognized its role and responsibility as a corporate citizen. Abdos Oils Private Limited has social values ingrained into its culture and manner of working.

Abdos Oils Private Limited commits itself to contribute to the society in ways possible for the organization and has set up its committed core CSR team, as a means for fulfilling this commitment.

To further the Company’s CSR philosophy, a formal policy on CSR is being formulated to align its practices with requirements of Companies Act, 2013 and rules made thereunder.

Aims & Objectives

To develop a long-term vision and strategy for Abdos Oils Private Limited CSR objectives establish relevance of potential CSR activities to Abdos Oils Private Limited core business and create an overview of activities to be undertaken, in line with Schedule VII of the Companies Act, 2013.

CSR Projects, Programs and Activities

Abdos Oils  Private Limited may undertake various CSR projects, programs and activities through direct or through its Trust/NGO from time to time. Abdos Oils Private Limited may also contribute towards any existing or ongoing CSR projects, programs and activities. Such projects, programs and activities will be undertaken keeping in mind the CSR philosophy of the Company and in alignment with the permissible activities under the Companies Act, 2013 and rules framed under (as amended from time to time). It shall be at the discretion of the Company to undertake, modify, implement and cancel CSR projects, programs and activities from time to time as it deems fit.

Without prejudice to the generality of the aforesaid, Abdos Oils Private Limited may from time to time undertake any project, program and activity on one or more of the following areas:

• Promoting awareness of preventive health care through various activities including organizing campaigns, awareness sessions, events, marathons, etc. with reference to various ailments such as diabetes, hypertension, cardiac, cancer including treatment of cancer patients, etc.
• Promoting education, including special education through various activities including organizing schools development projects/programs, by organizing special sessions in schools, etc.,
• Promoting education through various activities including providing support to educational institutions, centres for non-formal education, tent school programs, schools at various sites like construction sites, etc.
• Employment enhancing vocation skills especially among children and women through various activities including child care centres, anganwadi programs, livelihood enhancement projects, vocational training programs, etc.,
• eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water:
• contribution to the Prime Minister’s National Relief Fund or any other fund set up by the Central Government for socio-economic development and relief and welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women;
• ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water;
• rural development projects and slum area development
• Any other projects, programs and activities falling within the permissible activities prescribed under Companies Act, 2013, rules made thereunder, any circular/notification/guidelines/clarification issued thereunder.

Mode of carrying out CSR activities

Abdos Oils Private Limited may carry out the CSR activities either on its own, or through a trust or registered society or through NGO or through a company registered under Section 8 of the Companies Act, 2013 or through one or more of the modes in such manner as it deems fit. Abdos Oils Private Limited may also collaborate with other companies for undertaking projects, programs and activities in such manner as it deems fit.

CSR Committee

The Board of Directors of the Company shall constitute a committee called the “Corporate Social Responsibility Committee” (“CSR Committee”) in accordance with the provisions of Companies Act, 2013 and rules made thereunder. The CSR Committee will consist of 2 or more directors or such other number of directors as the Board of Directors of the Company may determine from time to time. The Board of Directors may change the composition of the CSR Committee from time to time in such manner as it thinks fit.

Subject to provisions of Companies Act, 2013 and rules made thereunder, the CSR Committee may meet at such intervals, in such manner and may carry out matters in such manner and function generally as per such guidelines as it deems fit.

The CSR Committee shall have, inter alia, the following roles, powers and responsibility:

(i) Formulate and recommend the CSR Policy and any amendments therein to the Board of Directors of the Company

(ii) Develop and approve various CSR projects, programs and activities to be undertaken from time to time either directly by the Company or through other entities

(iii) Determine modalities of execution of such CSR projects, programs and activities

(iv) Undertake all necessary steps to implement the CSR activities

(v) Authorise and approve CSR expenditure from time to time subject to the limits approved by the Board of Directors

(vi) Monitor the CSR activities in such manner as it deems fit

(vii) Carry out all such acts, deeds, matters and things as may be required in connection with aforesaid matters and generally for any matter connected with the CSR policy of the Company

(viii) To perform such functions as may be entrusted by the Board of Directors from time to time.

CSR Spending

The Company may, in every financial year, spend such amounts on its CSR activities as the CSR Committee may authorise from time to time subject to the limits as approved by the Board of Directors.

Any surplus arising out of CSR projects, programs and activities shall not form part of the business profits of the Company.

Monitoring Process

CSR Committee shall monitor the implementation of various programs, projects and activities in such manner as it deems fit. CSR Committee shall ensure that a transparent monitoring mechanism is put in place.

Without prejudice to the generality of the contents of this policy, the Company may undertake CSR projects, programs and activities as permitted under the framework of Companies Act, 2013 from time to time (including any amendments, clarifications, circulars, notifications or other official communications from time to time). The Company may also carry out the purposes of this CSR policy in accordance with any amended position of law from time to time notwithstanding that such amended position is not reflected in this policy.

CSR REPORTING

The Board in its Annual Report shall include the details of the CSR activities undertaken in the Financial Year.

The CSR Committee shall provide an annual report on the implementation and monitoring of the CSR Policy and that it is in compliance with CSR objectives of Abdos Oils Private Limited, which statement shall form part of the Boards’ Report.

Abdos Oils Private Limited shall display on its website the contents of its CSR Policy and other information as may be required to be displayed.

 

AMENDMENTS

The Policy may be reviewed and amended from time to time.

DISCLOSURE

All disclosures, display and reporting requirement related to CSR shall be made in accordance with the provisions of the Act and Rules made thereunder.