REPORT ON CORPORATE SOCIAL RESPONSIBILITY
Every company having net profit of rupees five crore or more during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors, out of which at least one director shall be an independent director.
As per sub rule ii of Rule 5 of The Companies (Corporate Social Responsibility Policy) Rules, 2004 – a private company having only two directors on its Board shall Constitute its CSR Committee with two such Directors.
Shri Ram Finance Corporation Private Limited achieved the requirement to Constitute CSR Committee to implement Corporate Social Responsibility Policy which are undertaken by the company and the CSR Committee shall:
(a) formulate and recommend to the Board, a Corporate Social Responsibility Policy which shall indicate the activities to be undertaken by the company in areas or subject, specified in Schedule VII.
(b) recommend the amount of expenditure to be incurred on the activities referred to in clause (a); and
(c) monitor the Corporate Social Responsibility Policy of the company from time to time.