Corporate Social Responsibility

1. 1. Overview

   As a corporate entity,

Ecos (India) Mobility & Hospitality Private Limited (“The Company”)

1.  recognizes that its business activities have wide impact on the society in which it operates, and therefore an effective practice is required giving due consideration to the interests of its stakeholders including shareholders, customers, employees, suppliers, business partners, local communities and other organizations. The vision of the Company is “to actively contribute to the social and economic development of the communities in which it operates”.

 

1. 1. CSR Policy & Initiate of the Company

   In order to fulfill the above objective, Corporate Social Responsibility (CSR) Policy of the Company has been framed and amended w.e.f. January 25, 2021, in order to streamline and undertake the CSR activities of the Company either directly or through the “Aashirwad Trust” which was established in the year 2016 by the Promoters of the Company to initiate necessary steps/ activities for advancement and betterment of the society. The Trust is an irrevocable public charitable trust made for the benefit of all persons belonging to different communities irrespective of their caste, creed, or religion.

 

1. 1. IMPLEMENTATION
      1. Pursuant to Schedule VII of the Act and the CSR Rules, the Company shall undertake CSR activities included in its CSR Plan, as recommended by the CSR Committee at the beginning of each year. The Committee is authorized to approve any modification to the existing CSR Plan or to propose any new program during the financial year under review.
      2. Mode of Implementation: The CSR Activities may be undertaken by the Company directly or through trust (Incorporated by promoters of the Company) or with the prior approval of the Board, through any of the following entities as “Implementation Agency” being duly registered with the Central Government and having a unique CSR Registration Number (with effect from 1 April 2021):
         1. Company established under section 8 of Indian Companies Act 2013, or Trust, or Society registered under section 12-A and 80-G of the Income Tax Act 1961, being established by the Company, either singly or along with any other company; \
         2. Company established under section 8 of Indian Companies Act 2013, or Trust, or Society, being established by (Indian) Central Government or (Indian) State Government;
         3. Company established under section 8 of Indian Companies Act 2013, or Trust, or Society registered under section 12-A and 80-G of the (Indian) Income Tax Act 1961, and having an established track record of at least three years in undertaking similar CSR activities; or
         4. Any entity established under an act of (Indian) Parliament or a (Indian) State Legislature.
      3. The Company may collaborate with other companies for undertaking projects or programmes or CSR activities in such a manner that the CSR committees of respective companies are in a position to report separately on such projects or programmes in accordance with these rules. The Company may also collaborate with the group companies / affiliates in consultation with the CSR committee, to identify, conduct due diligence and contribute to CSR projects. As part of such collaboration, any one of the group companies / affiliates may engage with Implementation Agencies (including execution of the appropriate memorandum of understanding or any other documents as approved by the CSR Committee) on behalf of the Company.
      4. The Board shall empower the Implementation Group to finalize, approve and execute various agreements, deeds, writings, confirmations, undertakings or other documents, as may be necessary, under the Common Seal of the Company or otherwise, with any party including Implementing Agencies and/or others for the purposes of the CSR Policy and accept modifications, changes and amendments to any such documents/ agreements as it may deem fit.
      5. All questions of interpretation or discrepancies which shall arise under, or as a result of, or pursuant to, or in connection with the implementation of the CSR Policy or any initiative or activities undertaken by the Company in terms of the CSR Policy, shall be referred to the CSR Committee for their inputs and the final decision/determination/ interpretation shall rest with the Board.
      6. In case of failure to ensure the minimum CSR Expenditure i.e. 2% (two percent) of average Net Profits of the Company made during the three immediately preceding financial years, detailed reasons for the same should be submitted by the Implementation Group to the CSR Committee and the Board. Further the Board shall duly include such explanation in their annual board of directors’ report.
   2. COMPOSITION OF CSR COMMITTEE

Following is the Composition of Committee:

Name	Designation	Position in Committee
Rajesh Loomba	Managing Director	Chairman
Aditya Loomba	Wholetime Director	Member

1. 1. CSR EXPENDITURE

The Company shall spend at least 2% (two percent) of average Net Profits of the Company made during the three immediately preceding financial years in accordance with the Act and the Rules and the CSR Policy.

1. 1. OBJECTIVES AND CSR ACTIVITIES

The Company constantly strives to ensure strong corporate culture which emphasizes on integrating CSR values with business objective. The vision of the Company is “to actively contribute to the social and economic development of the communities in which it operates”. In so doing build a better, sustainable way of life for the weaker sections of society and raise the country’s human development index. In accordance with Schedule VII of Companies Act, 2013 Company’s CSR Activity will focus on:

1. 1. 1. Promoting Education including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects;
      2. To provide technology support to economically weak section of students in society
      3. Driver Training including behavioral training, growth & development programme for unskilled or unemployed youth of the Country
      4. Promoting gender equality, empowering women, ensuring their economic independence by distributing sewing machines and other such equipments which help them to generate basic income or to connect them with employment opportunities
      5. Promoting Health care, organizing health camps and health awareness programmes, COVID relief and support
      6. Donation to other NGOs and Crowdfunding campaign which works for the betterment of society
      7. Distributing necessity items to weaker section of the Society
      8. Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation
      9. Any other project as may be specified under Schedule VII of the Companies Act, 2013, from time to time.
   2. MONITORING AND REVIEWING
      1. CSR Committee shall review the CSR policy Annually and shall propose amendments to Board of Directors on basis of Annual CSR Plan.
      2. CSR Committee shall review amount spent and unspent amount at the end of half year and take necessary measures to comply with Annual Plan.
   3. GENERAL
      1. In case of any ambiguity or clarification with regard to any provision of CSR Policy and in respect of any matters not covered herein, a reference may be made to the Committee. In all such matters, the interpretation and decision of the Committee shall be final.
      2. The Board of the Company may, subject to compliance with applicable law, at any time alter, amend or modify the CSR Policy as it deems fit to comply with the statutory obligation of the Company to undertake the CSR Activities.
   4. ANNUAL REPORTING

The Board’s report of the Company for every financial year commencing from 1st day of April shall include a report on CSR containing particulars as specified by Companies Act, 2013 and the rules made under