CSR

Our Policy

In compliance with the provisions of section 135 of the Companies Act, 2013 including Schedule VII thereof, and the Companies (Corporate Social Responsibility Policy) Rules, 2014, as amended from time to time, the Company shall undertake its CSR initiatives, projects, programmes in a manner compliant with the Act and the Rules.

This policy spells out the Company’s philosophy towards its CSR and lays down the guidelines, framework and mechanism for effective planning, implementation and monitoring of its CSR Activities.
 

Pioneer Aluminium Industries Limited has been actively supporting local communities towards sustainable development on CSR activities i.e Healthcare, Education, Rural development, Drinking water facilitation, women empowerment and skill development benefitting rural communities living in the vicinity of our operational plant. In compliance with the provisions of the Act, PAIL has formalised this CSR Policy to undertake various CSR activities / projects in a structured manner.

The Company may also extend its support by way of monetary contributions and donations for the development schemes of local authorities, Non-Government Organizations and other agencies and also to the Fund specified in Schedule VII of the Act.

Our approach towards CSR is based on our Company’s core values, which include fostering inclusive growth by sharing some of the wealth we create with the society at large.

CSR has always been an integral and strategic part of our business process. It is a vital constituent of our Company’s commitment to sustainability. We strive to utilize the potential of human and natural capital around us in a manner that facilitates social, economic and environmental progress. 

CSR Objectives:

Water Sustainability

The main objective of this Policy is to lay down guidelines for the Company to make CSR a key business process for sustainable development of the society. The Company aims to be a good corporate citizen by subscribing to the principles of integrating its economic, environmental and social objectives, and effectively utilizing its own resources towards improving the quality of life and building capacities of its stakeholders, local communities, and society at large.

In projects that involve creation of community assets, attempts will be made to rope in the beneficiaries by way of creating user forums / associations and grooming them to undertake the task of maintaining the assets in future.

The CSR Committee of the Company shall at all times be constituted in accordance with the provisions of the Act and the Rules. It shall comprise at least 3 (three) directors, out of which at least one director shall be an independent director. The CSR Committee shall elect one of the members as the Chairperson of the CSR Committee.

The CSR Committee of the Board, apart from formulating the CSR Policy, will also recommend the annual action plan, financial allocation, manner of execution, monitoring and reporting mechanism for the CSR activities for approval of the Board of Directors and thereafter monitor them from time to time.

Once the CSR activities are finally approved with financial allocations, the officials concerned will implement them diligently. All the systems and procedures laid down for the day-today operations in matters such as tendering, evaluation, award of contract, verification, payment, audit, etc. apply to the activities taken up under CSR.

Pioneer Aluminium, will ensure that CSR activities are undertaken in keeping with the letter and spirit of the Companies Act, 2013 and the Rules made there under. Reports on the outcomes of CSR activities/projects will be uploaded in the website of PAIL and shared with the local communities through appropriate vernacular publications.

A certificate shall be presented by the Chief Financial Officer to the Board, certifying that all the funds allocated by the Board have been utilized in the manner as approved by the Board

Amendment / Policy Review

(a) This Policy is framed based on the provisions of the Act and rules there under.

(b) In case of any change in the provisions of the Act or rules there under, which renders any of the provisions of this Policy inconsistent with the Act, this Policy will be suitably amended.

(c) This Policy may be reviewed and amended from time to time by the CSR Committee. Any change or modification in the Policy as recommended by the CSR Committee shall be placed before the Board of Directors for approval.

 

Composition of CSR Committee

Mr. Puttamreddy Ramesh Reddy

Chairman of the Committee 

Mr. Ramakrishna Reddy Garisa

Member

Mrs. Bathena Lakshmi Shruti Reddy 

Member