Economic, social and environmental benefits
Corporate Social Responsibility Philosophy
JLPL is a socially responsible company. It acknowledges that it receives various benefits from the society at large directly and indirectly and realizes that it needs to in turn contribute to the welfare of the society. Such contribution would, in addition to adopting the best business and industrial practices and technologies, include actions such as behaving ethically and responsibly towards the environment, contributing to social welfare through appropriate projects and programs and helping in times of nation disasters by providing succor to the needy and so on. Accordingly, JLPL has in the past been contributing to various social welfare activities as part of its Corporate Social Responsibility (CSR) initiatives.
With the enactment of Section 135 of the Companies Act, 2013 (the Act) and the Companies (Corporate social responsibility Policy) Rules, 2014, JLPL’s CSR philosophy has been formalized and is relatable to the subjects enumerated in Schedule VII of the Act.
This Policy has been recommended by the Corporate Social Responsibility Committee (Committee) and has been approved by the Board of JLPL.
List of Projects/Programs
Amount to be spent on CSR Activities
The Company shaII strive to spend in every financial year at least 2% (two percent) of the average net profits of the Company before tax during the three immediately preceding financial years as per section 135 of the Act and the Rules framed there under.
Net Profit here means the net profit computed for a financial year in accordance with the applicable provisions of the Act, excluding profit arising from any overseas branch of the Company whether operated as a separate company or not and any dividend income accruing to the Company in any financial year· from companies in India that are covered under and complying with the provisions of Section 13 5 of the Act. The net profits of JLPL for the financial years 2011-12, 2012-13 and 2013-14 computed under the provisions of the Companies Act 1956-slraJJnot be recomputed in accordance with the provisions of the Act.
Any surplus arising and/or additional revenue generated out of CSR Activities undertaken by JLPL shall not form part of the net profit of JLPL and it shall be spent for undertaking CSR Activities only.
Implementation of CSR Activities
Procedure for CSR Activities
JLPL’s CSR activities shall be carried out through the CSR Committee.
The Committee shall recommend to the Board the CSR activities to be undertaken during for the financial year. Such recommendation shall include a detailed plan, modalities of execution of the activities, their budgets and implementation schedule, process by which they shall be monitored along with the amount to be incurred on such CSR activities.
The Board shall consider the recommendations of the Committee and may give its approval. On Board’s approval JLPL shall proceed with the approved CSR activities.
The Committee shall monitor on a regular basis the carrying out of CSR activities and submit periodic reports to the Board as well as special reports if so required by the Board. The reports shall disclose the status of the CSR activities undertaken, expenditure incurred and any other details as may be required by the Board.
The Committee shall be responsible to ensure compliance with statutory provisions and JLPL’ s CSR Policy. The Committee shall also carry out such other functions related to CSR activities as may be assigned by the Board.
The Board’s report to shareholders shall include an annual report on CSR containing the particulars given in the Annexure to the Companies (Corporate Social Responsibility Policy) Rules, 2014.
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Our CSR Activities
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Mobile Diagnostic Clinic(MDC)
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Kannoil Vision Saver Project