ANNEXURE-II
ANNUAL REPORT ON CSR ACTIVITES
Forming part of Board's Report For Financial Year ending March 31,2022
1. Brief outline on CSR Policy of the Company.
Social Responsibility is one of the many responsibilities of a Corporate to contribute something from its earnings for the development of the society without any anticipation. In order to ensure and streamline such social and economic development of the society at large and also to ensure all citizens including corporate’ participation along with the Government, corporate social activities is brought under the regulatory frame work under the relevant statute – Companies Act, 2013. Accordingly, the regulatory framework stipulates 2% of the average net profit of the preceding three years should be spent by the Corporate under the CSR policy framed by the corporate concerned every year. The Corporate are expected to spent such amount for the social and economic upliftment of the society in and around the Corporate concerned and also society at large, in order to upliftment of literary level of the people by way of extending educational assistance, development of infrastructure facilities of the educational institutions, society in and around the Corporate, Health care programmes to the needy people, skill development through sponsorship of nationally recognised sports activities etc.,.
Accordingly, your company has formulated a CSR Policy with the following objectives.
Objectives of the CSR Activities
1.Providing financial assistance to economically challenged students for pursuing education and provide infra facilities to Government Schools of the local regions where the Company operates comprising of Erode District.
2.Providing financial assistance to the deserved people to undergo the medical treatment for any ailments, Conducting Corona Vaccination camp and provide financial assistant to build Covid specialty Hospitals & Centre in the Local Region.
3. Organizing free health check-up for the people of the underprivileged Sections etc.,
Your Board of Directors had also constituted a Board’s Sub-Committee to administer and manage the CSR activities under the CSR policy of the Company with the following members.
2. The Composition of the CSR Committee.
| S.No | Committee Member | Type | Category in the Board |
|---|---|---|---|
| 1 | Shri K. Gandhirajan | Chairman | Managing Director |
| 2 | Shrimathi G. Malathi | Member | Director |
The above composition of the CSR Committee duly complied with the Provisions of Section 135 of the Companies Act 2013 viz., a Corporate Social Responsibility Committee of the Board shall be consisting of three or more directors, out of which at least one director shall be an independent director. Since your company private limited do not have independent director.
3. Provide the web-link where Composition of CSR committee, CSR Policy and CSR projects approved by the board are disclosed on the website of the company.
The web link where composition of CSR committee, CSR Policy and CSR projects approved by the board are disclosed in the website as mentioned below:
https://mrgold.in/
Since our CSR obligation is less than Rs.50/- Lakhs, FY 21-22 onwards CSR committee meetings was dispensed as per the MCA Notification, Amendments and Rules and CSR relating matters has approved by the board in place of the CSR Committee.
4. Provide the details of Impact assessment of CSR projects carried out in pursuance of sub-rule (3) of rule 8 of the Companies (Corporate Social responsibility Policy) Rules, 2014, if applicable (attach the report).
Not applicable
The Impact assessment of CSR Project will arise only when the Company's average CSR obligation exceeds ten crore rupees in the three immediately preceding financial years.
5. a) Average net profit of the company as per section 135(5).
| 2020-21 | 2019-20 | 2018-19 | |
|---|---|---|---|
| Last three years profit (in Rs. Lakhs) | 2172.55 | 607.63 | 464.00 |
| Average profit (in Rs. Lakhs) | 1081.40 | ||
| 2% of the average Net Profit | 21.60 | ||
| Rounded Off | 21.60 |
CSR Obligations for the Financial year
| b) | Two percent of average net profit of the company as per section 135(5) | 21.60 Lakhs |
| c) | Surplus arising out of the CSR projects or programmes or activities of the previous financial years | NIL |
| d) | Amount required to be set off for the financial year, if any | NIL |
| e) | Total CSR obligation for the financial year (7a+7b-7c). | 21.60Lakhs |
6. a) Details of CSR amount spent against on-going projects for the financial year:
| S.No | Name of the Project | Item from the list of activities in Schedule VII to the Act. | Local area (Yes/ No). | Location of the project. | Project duration | Amount allocated for the project (in Rs.). | Amount spent in the currentfinancial Year (in Rs.). | Amount transferred to Unspent CSR Account for the project as per Section 135(6) (in Rs.) | Mode of Implementation- Direct (Yes/No) | Mode of Implementation - Through Implementing Agency | |||
| State | District | Name | CSR Registration number. | ||||||||||
| NIL | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Details of CSR amount spent against other than on-going projects for the financial year:
| S.No | Name of the Project | Item from the list of activities in Schedule VII to the Act. | Local area (Yes/ No). | Location of the Project. State & District | Amount spent for the projects (Rs in lakhs) | Mode of implementation | Mode of implementation Through implementing agency. | |
|---|---|---|---|---|---|---|---|---|
| Name | CSR regi stration number | |||||||
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | |
| 1 | Various types of masks to Government Erode medical college | Promoting health care including preventive health care | Yes | Government Erode medical college. Tamilnadu & Erode | 8.27 | Directly by the company | NA | NA |
| 2 | Amenities to Schools and anganwadis in Erode district | Promoting education | Yes | Picchandampalayam, Kathirampatti, Merkupudur, Koorapalayam. Tamilnadu & Erode | 9.73 | Directly by the company | NA | NA |
| 3 | Renovation of Buildings | Rural development | Yes | Kathirampatti. Tamilnadu & Erode | 0.32 | Directly by the company | NA | NA |
| Total | 18.32 | |||||||
b) Amount spent in Administrative Overheads : NIL
c) Amount spent on Impact Assessment, if applicable : NIL
d) Total amount spent for the Financial Year (7b+7c+7d+7e) : NIL
e) CSR amount spent or unspent for the financial year:
| Total Amount Spent for the Financial Year. (in Rs.) | Amount Unspent (in Rs.) | |||
| Total Amount transferred to Unspent CSR Account as per section 135(6). | Amount transferred to any fund specified under Schedule VII as per second proviso to section 135(5). | |||
| Amount Unspent (in Rs.) | Date of transfer | Amount | ||
| 18.32 Lakhs | 0 | 0 | 0 | |
|---|---|---|---|---|
Note: The CSR Committee is proposed to transfer Unspent CSR amount to PM’s National relief fund.
f) Excess amount for set off, if any:
| S.No | Particular | Amount ` in Lakhs |
| (i) | Two percent of average net profit of the company as per section 135(5) | 21.60 |
| (i) | Two percent of average net profit of the company as per section 135(5) | 21.60 |
| (ii) | Total amount spent for the Financial Year | 18.30 |
| (iv) | Surplus arising out of the CSR projects or programmes or activities of the previous financial years, if any | NIL |
| (v) | Amount available for set off in succeeding financial years [(iii)-(iv)] | NIL |
7. (a) Details of Unspent CSR amount for the preceding three financial years:
| S.No | Preceding Financial Year. | Amount transferred to Unspent CSR Account under section 135 (6) (Rs. In Lakhs) | Amount spent in the reporting Financial Year (Rs. In Lakhs). | Amount transferred to any fund specified under Schedule VII as per section 135(5), if any. | Amount remaining to be spent in succeeding financial years. (Rs. In Lakhs) | ||
|---|---|---|---|---|---|---|---|
| Name of the Fund | Amount (Rs in Lakhs). | Date of transfer. | |||||
| 1. | 2018-19 | NIL | NIL | NIL | NIL | NIL | NIL |
| 2. | 2019-20 | NIL | NIL | NIL | NIL | NIL | NIL |
| 3. | 2020-21 | NIL | NIL | PM NATIONAL RELIEF FUND | 10.95 | 29-09-2021 | NIL |
| total | NIL | NIL | 10.95 | NIL | |||
| For the last three years our company has not spent full CSR amount in as stated above and stated the reason for unspent reported in the CSR report as “the company has not been able to spend the full amount due to difficulty in find the right implementation agency in Erode locality”. The unspent CSR amount for the preceding 3 years was not carried forward to the succeeding years and the said CSR obligation closed in that year itself for FY 2018-19 and FY 2019-20 whereas for FY 2020-21 the unspent CSR amount was transferred to the fund mentioned in the Schedule VII as per section 135 of the Companies act, 2013 with remarks of reason for unspent the CSR amount in the annual CSR activity report. | |||||||
8. Whether any capital assets have been created or acquired through Corporate Social Responsibility amount spent in the Financial Year:
If Yes, enter the number of Capital assets created/ acquired: NA
Furnish the details relating to such asset(s) so created or acquired through Corporate Social Responsibility amount spent in the Financial Year:
| S.No | SHORT PARTICULARS OF THE PROPERTY OR ASSETS INCLUDING COMPLETE ADDRESS AND LOCATION OF THE PROPERTY | PINCODE OF THE PROPERTY OR ASSETS | DATE OF CREATION | AMOUNT OF CSR SPENT | DETAILS OF THE ENTITY/ AUTHORITY/BENEFICIARY OF THE REGISTERED OWNER |
|---|---|---|---|---|---|
| NA | |||||
9. Specify the reason(s), if the company has failed to spend two per cent of the average net profit as per section 135(5):
During the year while calculating the CSR spent amount, the company was inadvertently taken the fully value of CSR spent amount inclusive of GST value and later that was disallowed by the auditors. Now the unspent CSR Obligation during the year was Rs.3,30,000/-. The board decided to transfer the unspent CSR amount to Prime Minister’s National Relief Fund within 6 months from the closure of the financial year our company as specified under Schedule VII of section 135 of the companies Act, 2013.
Place: Erode
Date: 07/09/2022
For SUNRAJA OIL INDUSTRIES PRIVATE LIMITED
-SD-
K. GANDHIRAAJHAN
Chairman of CSR Committee
-SD-
G MALATHI
Member of CSR Committee
