TVS Industrial & Logistics Parks Pvt Limited
Corporate Social Responsibility Policy
TVS Industrial & Logistics Parks Pvt Ltd (TVSILP) is part of the TVS Group which is India’s leading supplier of automotive components and one of the country’s most respected business groups.
TVSILP is in the business of creating industrial infrastructure facilities by executing turn-key projects taking care of setting up or relocation of infrastructure that is customized to individual customer’s requirements to maintain long-term sustainability as an inherent feature of the industrial space.
TVSILP’s services are applicable to product types categorized as industrial buildings, from manufacturing factory set ups, modern warehouse, Construction of BTS facilities to specialized logistics infrastructure parks.
TVSILP has executed over 25 projects with cumulative investment of over Rs 1,040 mio which includes warehouses at Chakan, Infrastructure Park at Vaipur, Showrooms at various locations like Madurai, Kottayam, Tiruppur, Calicut.
The Company has so far covered 1 million sq ft of Construction and targets to cover more than 5 million sq ft of construction in the next 3 yrs.
Like any other TVS Group’s company, TVSILP’s reputation for honest and reliable business conduct is one of its greatest assets. Built by many people over many years, the group has a strong legacy of accountability, integrity and transparency. Its commitment to competitive excellence is combined with total, uncompromising integrity.
Responsibility towards society and the environment has always been a strong force at all TVS group companies. This is manifested in the form of diverse community partnerships.
2) Scope & Exclusion:
Enabling lives, living and livelihood for a stronger and inclusive India
This policy is applicable to TVSILP in India. The following are the key elements of the policy:
- Vision and framework of Corporate Social Responsibility and its approach towards the same.
- Key focus areas of inclusive development
- Overview of the implementation of various CSR initiatives
- Governance Structure.
3) Focus Areas of Engagement:
To work on several educational initiatives to provide quality education, training and skill enhancement for the underprivileged children in India. Initiatives are aimed at:
- Promoting primary and secondary education
- Enabling higher education through merit cum means scholarships, including for differently abled across the country.
- Using sports as a tool for development of students in both urban and rural settings
- Promoting higher education including setting up and supporting universities
B) Vocational Training:
To support / work towards setting up a platform for the rural children, uneducated or unemployed youth, women and farmers to groom themselves as skilled individuals and sustainable living for improving the quality of living and livelihood.
C) Rural development:
Undertaking projects that work towards the overall village/community development in rural areas, encompassing areas such as access to healthcare and education, improving the environment, infrastructure, promoting livelihood activities, etc. This may include projects like community resources management viz. water, sanitation, community (panchayat) areas, road and rail development, hospitals or health centers, schools, anganwadi centres.
D) Other Initiatives:
To undertake other need based initiatives in compliance with Schedule VII of the Companies Act, 2013.
E) The Social Responsibility initiatives of TVSILP to be implemented:
- Directly or a registered trust, society, or
- Any other foundations, trusts, or a section 8 company (or erstwhile Section 25 company) or any other form of entity with a track record of at least three years in carrying out activities in related areas. While engaging with partners, TVSILP to evaluate the credentials of the implementing entity and seek relevant documents, information and details as per Annexure 1.
- TVSILP may also collaborate with other companies or institutions for undertaking projects or programs for CSR activities.
F) Corporate Social Responsibility and Governance Committee (CSR&G Committee):
- Board of Directors of TVSILP has formed a CSR&G Committee. This committee to be responsible for the decision making with respect to TVSILP’s CSR policy. Committee members are;
- Ravi Kumar S. (Director)
- Ravichandran S. (Director)
- Ganapathi Sarma (Director)
- CSR&G Committee recommended the policy to TVSILP’s Board of Directors and the Board of Directors has approved this policy.
- The Board level Committee to meet at least twice a year to review the implementation of CSR projects/ programs and give suitable direction.
- The Board of TVSILP to ensure that minimum of 2% of average net profit of the last 3 years is spent on CSR initiatives undertaken by TVSILP.
- All expenditure towards the programs to be diligently documented.
- In case at least 2% of average net profit of the last 3 years is not spent in a financial year, reasons for the same to be specified in the CSR report.
- Any surplus generated out of the CSR activities not to be added to the normal business profits of TVSILP.
Annexure – 1
Indicative list of aspects to be considered while engaging with other entities,
1) Due diligence of the implementing agency would be conducted to check the credentials of the organization. The following information from the interested implementing agencies would be sought, as relevant:
- Memorandum/Article of Association or Constitution;
- Registration Certificate;
- Registration Certificate under Section 12A;
- Audited Accounts of last three years;
- Pan Card;
- IT Exemption Certificate under Section 35(i), if available;
- Acknowledgement of Income Tax Return along with IT Return filed (last three years);
- FCRA Certificate (if any) and latest copy of FCRA Return FC-3, if available;
- Description of the project.
2) Ensure that the project/ programme are consistent with list of activities in Schedule VII.
3) The team may visit and/or meet the representatives to assess the organization (as required).
4) Quarterly reporting on the progress in implementation of the projects/ programmes and utilization of the amounts.
5) Reserving the rights, to be exercised at its sole discretion, of stopping the funding at any stage of the project, if the program is not being implemented as per program objectives and goals.