Privacy Policy - Knowcraft Analytics

Corporate Social Responsibility Policy

1. Introduction

Knowcraft Analytics Private Limited (hereinafter referred to as “the Company”) is committed to operating in an economically, socially, and environmentally sustainable manner while recognizing the interests of its stakeholders. This policy outlines the Company’s approach to Corporate Social Responsibility (CSR) in accordance with Section 135 of the Companies Act, 2013, and the rules made thereunder.

Further, this Policy has been framed considering the provisions of the Companies Act, 2013, whereby every company:

having a net worth of Rs 500 crore or more, or
turnover of Rs 1,000 crore or more, or
a net profit of Rs 5 crore or more

during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee.

It is to be noted that this requirement does not directly apply to holding or subsidiary companies in the group automatically but only if such entity meets the criteria as per the Companies Act, 2013 on a standalone basis.

The Board of Directors of the Company has formulated and adopted a Policy recommending spending and monitoring CSR spending.

This policy is not brought into existence for the benefit of the employees and their immediate family members in the areas of extending loans to employees, participation at festivals, and best worker awards, etc.

2. Objectives

The objectives of this CSR policy are to:

Promote social, environmental, and economic development.
Contribute to the welfare of the community and society at large.
Ensure compliance with statutory requirements related to CSR.

3. Definitions

Company: Knowcraft Analytics Private Limited.
Board: The collective body of the directors of the company.
Director: A member of the Board of Directors of the company.
Corporate Social Responsibility (CSR): Activities undertaken by a company to promote social, environmental, and economic development as specified in Schedule VII of the Companies Act, 2013.
CSR Activities: The activities specified in Schedule VII of the Companies Act, 2013, which may be undertaken by the company in pursuance of its CSR policy.
CSR Committee: A committee of the Board of Directors of the company constituted under the provisions of Section 135 of the Companies Act, 2013, to oversee the implementation of the CSR policy.
CSR Rules: The Companies (Corporate Social Responsibility Policy) Rules, 2014, as amended from time to time, which provide the framework for the implementation of CSR activities by companies.
CSR Expenditure: The amount spent by the company on CSR activities in accordance with the provisions of Section 135 of the Companies Act, 2013, and the rules made thereunder.
Net Profit: The net profit of a company as per its financial statement prepared in accordance with the applicable provisions of the Companies Act, 2013, but shall not include profits arising from any overseas branch of the company, whether operated as a separate company or otherwise, and any dividend received from other companies in India.
Schedule VII: A schedule of the Companies Act, 2013, which lists the activities that may be included by companies in their CSR policies.

4. CSR Committee

The Company shall constitute a Corporate Social Responsibility Committee of the Board (“CSR Committee”) consisting of 2 (two) or more Directors.

In future, if the Company qualifies under Section 149(4) of the Companies Act 2013 to appoint an independent director then the CSR Committee shall have at least 3 (three) Directors, out of which at least one Director shall be an independent director.

Where the amount required to be spent by a company on CSR does not exceed Rs. 50 (fifty lakh rupees, the requirement forthe constitution of the CSR Committee is not mandatory and the Board of Directors can discharge the duties of the CSR Committee.

Since the to be spent is less than Rs. 50 lakhs there is no requirement to form a committee the Board will form a committee as and when the amount to be spent exceeds Rs. 50 Lakhs.

5. CSR Activities

The Company shall undertake CSR activities as specified in Schedule VII of the Companies Act, 2013, including but not limited to:

Eradicating hunger, poverty, and malnutrition.
Promoting education, including special education and employment-enhancing vocational skills.
Promoting gender equality and empowering women.
Ensuring environmental sustainability and ecological balance.
Protection of national heritage, art, and culture.
Measures for the benefit of armed forces veterans, war widows, and their dependents.
Training to promote rural sports, nationally recognized sports, and Olympic sports.
Contribution to the Prime Minister’s National Relief Fund or any other fund set up by the Central Government for socio-economic development.

6. CSR Expenditure

The Company shall spend at least 2% of the average net profits of the Company made during the three immediately preceding financial years on CSR activities. If the Company has not completed three financial years since its incorporation, it shall spend 2% of the average net profits made during the immediately preceding financial years.

7. Implementation

The Board of Directors shall prepare an annual action plan in pursuance of its CSR policy, which shall include:

The list of CSR projects or programs that are approved to be undertaken.
The manner of execution of such projects or programs.
The modalities of utilization of funds and implementation schedules.
Monitoring and reporting mechanisms for the projects or programs.

8. Monitoring and Reporting

The Board of Directors shall monitor the implementation of the CSR projects and programs and report the same in the Board’s report. The Board shall ensure that the activities included in the CSR policy are undertaken by the Company and that the funds disbursed for these activities are utilized for the purposes and in the manner as approved by it.