ThinkPalm Technologies Private Limited (“ThinkPalm”), is committed to deliver excellence in our business, and we wholeheartedly contribute towards being a part of societal change.
ThinkPalm has always believed in giving back to the society and recognized its role and responsibility as a corporate citizen. A formal policy on CSR is formed to align its practices with requirements of Companies Act, 2013 and rules made thereunder.
CSR Projects and Programs
ThinkPalm intends to undertake various CSR projects, programs and activities from time to time which include contributing / undertaking ongoing CSR projects, programs and activities. Such projects, programs and activities will be undertaken keeping in mind the CSR philosophy of ThinkPalm and in alignment with the permissible activities under the Companies Act, 2013 and rules framed thereunder (as amended from time to time). ThinkPalm will focus its CSR initiatives in localities surrounding its business operations. It shall be at the discretion of ThinkPalm to undertake, modify, implement and cancel CSR projects, programs and activities from time to time as it deems fit. It shall also undertake projects in relation to promoting rehabilitation centers thriving to eradicate drug and alcohol addictions in the society.
Without prejudice to the generality of the aforesaid, Thinkpalm may from time to time undertake any project, program and activity in any one or more of the following areas:
The Board of Directors shall constitute Corporate Social Responsibility Committee (hereinafter referred as CSR Committee) to oversee and implement the CSR programs and initiatives approved by the Board. CSR Committee shall consist of minimum of 3 or more Directors.
The CSR Committee shall consist of the following directors:
The Board of Directors may change the composition of the CSR Committee from time to time as and when required.
CSR Committee may meet at such intervals and carry out matters as it deems fit.
If any approval of the Committee required on urgent basis, the Committee may pass any resolution by circulation and the same be treated as if passed in the meeting of the CSR committee and will have the same effect.
The CSR Committee shall have, inter alia, the following roles, powers and responsibility:
ThinkPalm may, in every financial year, spend such amount on its CSR activities within the limits approved by the Board of Directors.
Any surplus arising out of CSR projects, programs and activities shall not form part of the business profits of ThinkPalm. During any financial year, if CSR expenditure is not fully spent by ThinkPalm, the same shall be kept in reserve shall be utilized in the next financial year or subsequent years. Presently we are running the following CSR projects.
CSR committee may provide quarterly report on CSR activities spent by ThinkPalm to the Board.
CSR Committee shall monitor the implementation of various programs, projects and activities in such manner as it deems fit including. Further the Committee shall have the authority to delegate the monitoring function to any executives of ThinkPalm who shall directly report to the CSR committee.
If CSR Committee decides to undertake its CSR activities through a company established under section 8 of the Act or a registered trust or a registered society, other than those specified above, such company or trust or society shall have an established track record of three years in undertaking similar programs or projects; and the company has specified the projects or programs to be undertaken.
CSR Committee shall also determine the manner of submission of information/ reports by third parties / executives as a part of the monitoring process.
Documentation and Reporting
All vouchers, expenditure statement, receipts and other documents for each expenditures shall be kept by ThinkPalm.
Further ThinkPalm shall keep the records for a minimum period of 8 years from the date of completion of the project as required under the provisions of the Companies Act, 2013.
Annual report on CSR will be presented along with Board’s report for every financial year as required under the provisions of the Companies Act, 2013. If during any financial year, company is not spending the required amount, reason for the same be given in the CSR report.
NOTE: Without prejudice to the generality of the contents of this policy, ThinkPalm may undertake CSR projects, programs and activities as permitted under the framework of Companies Act, 2013 from time to time (including any amendments, clarifications, circulars, notifications or other official communications from time to time). ThinkPalm may also carry out the purposes of this CSR policy in accordance with any amended position of law from time to time notwithstanding that such amended position is not reflected in this policy.
Contact us and we'll have one of our experts reach out to you and discuss how we can lead your project to success.