The President of India on August 29, 2013 provided assent to the Companies Act, 2013 (the “Act”).
Section 135 of the Act which stipulates the provisions relating to Corporate Social Responsibilities for companies was notified on February 27, 2014 and became effective April 1, 2014 “CSR Provisions”). Halewood Laboratories Private Limited (“Halewood” or “the Company”) falls within the scope of the aforesaid CSR Provisions.
The Company has, in compliance with the CSR Provisions, constituted, the CSR Committee comprising of following Directors:
The terms of reference of the CSR Committee shall include the following:
The CSR Committee, in compliance with the statutory provisions and in terms of its Terms of Reference has formulated this Corporate Social Responsibility Policy.
The Company shall upon the recommendation of its CSR Committee and with necessary approval of the Board, undertake any one or more of the following activities, as part of its corporate social responsibility initiative, which are defined in Schedule VII of the Companies Act 2013;
The report of the Board of Directors of the Company shall include an annual report on CSR activities in the prescribed format and the Company shall also display the CSR policy on its official website.