CSR Policy

The Board approved CSR Policy on 05.10.2018

Company Details -

BOMS Private Limited (BOMSPL) is a company, incorporated in the year 2010 under the provisions of the Companies Act, 2013. The Company has been in operation since its year of incorporation. The Company is a leading company in providing operation and maintenance services including supply of man power, mainly to infrastructure projects, including hydro power projects.

Being a leader in the fields of operation and maintenance services provider, BOMSPL believes that this position brings both opportunity and responsibility. BOMSPL believes in applying its skills and resources where it can make the greatest impact on the society.

The policy for Corporate Social Responsibility is designed and governed with a clear focus on promoting education in India, including giving special attention towards education and employment and enhancing vocation skills, especially among children, women, elderly, and the differently abled. The initiatives taken by BOMSPL are in consonance with projects and programs relating to activities specified under Schedule VII to the Companies Act, 2013 (“Act”) and Companies (Corporate Social Responsibility Policy) Rules, 2014 (“Rules”).

The Act, Schedule and Rules for CSR, have come into effect from the first day of April, 2014, with defined threshold for corporates. Companies that earn a net profit of INR 5 Crores or more during any financial year are required to spend at the least two per cent (2%) of their average net profits, made during the three preceding financial years, on CSR activities and/or report the reason for spending or non-expenditure. The companies are also required to report the expenses made for CSR activities in the annual financial report.

Objectives -

The CSR policy of BOMSPL is governed with a focus on education, employability, environmental sustainability, and animal welfare. The primary objective of the CSR policy is to govern and enhance environmental sustainability. BOMSPL will review these focus areas from time to time and make additions or deletions, based on the priorities for each year.

The Governance Model -

Constitution of the CSR Committee

Pursuant to Section 135 of the Companies Act 2013, the Board of Directors shall constitute the Corporate Social Responsibility (CSR) Committee. The members in the committee shall be appointed by the Board of Directors of BOMSPL, which shall consist of at least two or more Board Directors.

The CSR committee shall hold at least one CSR Committee meeting in a financial year. The CSR Committee shall decide the CSR programs and initiatives for each financial year, and accordingly, recommend the same to the Board of Directors. The CSR Committee in its recommendation shall indicate the activities to be undertaken for the financial year and the expenditure to be incurred on the CSR programs and initiatives.

The Board of Directors -

The Board of Directors shall take into account the recommendations made by the CSR Committee and approve the CSR programs for BOMSPL.

Role of the CSR Committee

To formulate and recommend the CSR Policy to the Board of Directors, which shall indicate the activities to be undertaken by the Company as specified in the Schedule VII of the Act and the applicable Rules.
To recommend the amount of expenditure to be incurred on the CSR activities.
To formulate the CSR Budget based on the CSR activities planned for the year.
To create an effective due diligence and monitoring mechanism for implementation of the approved CSR activities wherever required.
To submit reports to the Board of Directors in respect of the CSR activities undertaken by BOMSPL.
To decide on the locations for CSR activities.

Mode to undertake CSR activities

The Company will implement its CSR activities, approved by the CSR Committee, through the following modes:

Company’s personnel.
A registered trust or a registered society; the Trust or society is created exclusively for undertaking CSR activities and shall have an established track record of three years in undertaking similar programs or projects.
Collaborate with other Companies for the efficient and better achievement of objects.
Such other entity, agency approved by the Committee to collaborate with other companies.

Focus Areas

Some of the initial list of focus areas that the company seeks to concentrate on are as follows:

Eradicating hunger, poverty, and malnutrition, promoting health care, including preventive health care and sanitation and contribution to the Swach Bharat Kosh set- up by the Central Government for the promotion of sanitation and making available safe drinking water.
Promoting education, including special education and employment enhancing vocation skills among children, women, elderly, and the differently abled, and livelihood enhancement projects.
Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centers, and such other facilities for senior citizens. Implementing measures for reducing inequalities faced by socially and economically backward groups.
Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air, and water, including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga.
Protection of national heritage, art, and culture by contributing to the restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional arts and handicrafts.
Provide training to underprivileged talents to promote rural sports, nationally recognized sports, paralympic sports and Olympic sports.
Contribute to the prime minister's national relief fund, or Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund), or any other fund set up by the central govt. For socio economic development and relief and welfare of the schedule caste, tribes, other backward classes, minorities, and women.
- Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government
- Contributions to public funded Universities; Indian Institute of Technology (IITS); National Laboratories and Autonomous bodies established under Department of Atomic Energy (DAE); Department of Biotechnology (DBT); Department of Science and Technology (DST); Department of Pharmaceuticals; Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH); Ministry of Electronics and Information Technology and other bodies, namely Defense Research and Development Organization (DRDO); Indian Council of Agricultural Research (ICAR); Indian Council of Medical Research (ICMR) and Council of Scientific and Industrial Research (CSIR), engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGS).
Rural development projects.
Slum Area Development.
Disaster management, including relief, rehabilitation, and reconstruction activities.

The following activities shall not form part of the CSR activities of the Company:

The activities undertaken in the normal course of the business of the Company.
CSR activities that benefit the employees of the Company and their families.
Any contribution directly/indirectly to political party or any funds directed towards political parties or political causes.
Any CSR projects or programs undertaken outside India.
Activities supported by the companies on sponsorship basis for deriving marketing benefits for its products or services.
Activities carried out for fulfilment of any other statutory obligations under any Law in force in India.

Progress, Monitoring and Reporting

At the end of each financial year, the Committee will submit its report to the Board disclosing inter-alia the following:

The activities undertaken in the normal course of the business of the Company.
CSR activities that benefit the employees of the Company and their families.
Any contribution directly /indirectly to political party or any funds directed towards political parties or political causes.
Any CSR projects or programs undertaken outside India.
Activities supported by the companies on sponsorship basis for deriving marketing benefits for its products or services.
Activities carried out for fulfilment of any other statutory obligations under any Law in force in India.

CSR Budget and Expenditure

The CSR Committee shall recommend at least two per cent (2%) of their average net profits made during the three preceding financial years. The CSR expenditure shall include all actual expenditures, including contribution to corpus or on project or programs relating to CSR activities recommended by the CSR Committee and approved by the Board of Directors but shall not include any expenditure that does not fall within the purview of Schedule VII of the Act.

Treatment of Surplus

Any surplus generated from CSR projects undertaken by BOMSPL in a particular financial year will be tracked and channelized into Deloitte CSR corpus. These funds will be used in development of the CSR projects in the following year and will not be added to the normal business profits.

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