U-RYD - CSR Policy

Policy Introduction:

Corporate Social Responsibility Policy also known as CSR Policy is one that has been adapted in U-RYD since the days of its inception thereby proving that the concerned authorities handle the business responsible and with care. It has always been the company’s lookout to grow business such that it has a positive social impact and it does not harm the environment. U-Ryd has always carried their business with high social conscious. Never ever has the company been accused of any treachery and they take pride in saying that they always abide by the rules and regulations of the land. The work culture in the company is a responsible corporate culture where everyone is comfortable.CSR policy often acts as the benchmark or base for planning, implementation and evaluation of initiatives and resources.

Objective:

Keeping others best interest in heart has always been U-RYD’s vision. Therefore the company strictly strives to attain a social and economic balance on the development front. The company as a responsible corporate citizen is always in the lookout for ways to prove its worth and produce maximum output from minimum usage of resources. They make sure that all their activities bring positive impact in the society thereby encouraging others to be a part of the good cause that will help in upliftment of the society.

CSR Activities:

According to Section 135(5) of the Companies Act, 2013 (the Act) or any amendments thereto , the company is suppose to spend at least 2% of its average net profit of three consecutive previous years just immediate to the current one for any activity listed in Schedule VII (as amended) to the Act.

Execution/Implementation and Reporting of CSR Activities:

1. U-RYD will take up CSR activity either by itself or through an NGO or a recognized body identified by the Government as per the provision of the Act.
2. As per the decision of the CSR Committee in unison with the Board of Directors the expenditure of the CSR policy will be project based.
3. The CSR committee will recommend a set of activities from the Schedule VII to the Board of Directors of the company. The same Board will decide the amount of expenditure to be done on these activities depending on the financial performance of the company in the current year, operations of the Company and statutory requirement/ limits.
4. The company will spend on the activities suggested by the CSR committee in the location decided by the CSR committee again.
5. The constitution of the CSR committee and the financial expenditures done for the activities suggested by them by the company will be reflected in the Annual report for the for the respective financial year.

Responsibilities of the CSR Committee:-

1. Formulating and recommending CSR Activities to the Board of Director of the company and the list of activities to be undertaken by the same.
2. Giving an estimate of the expenditure to be done on the activities.
3. Monitoring CSR activities regularly.

Governance Policy :-

The Companies Act, 2013 and Rules made there under and any other modification or enactment as notified by the Central Government will govern the CSR policy strictly on a regular basis.

Grievances and Complaints Contact:

For any complaint one can contact the company at www.u-ryd.com . All the complaints are heard with care.