CSR POLICY

Preamble

Matrix Cellular (International) Services Ltd (hereafter called Matrix) was incorporated under the provision of the Companies Act, 1956 on 17th November 2005. We introduced the concept of local connectivity, by offering country-specific mobile connections and are the largest company providing complete telecommunication solutions for Indian customers travelling abroad with convenient, cost-effective mobile, data and forex services and our relentless pursuit of our goals have enabled us to emerge as the market leader and we are growing exponentially. Being a customer oriented company, we understand the need of reaching out to underprivileged, marginalised and poor section of the Society.

The Matrix’s CSR Policy

This policy encompasses the company’s philosophy for delineating its responsibility as a corporate citizen and lays down the guidelines and mechanism for undertaking socially useful activities for welfare & sustainable development of the community at large, is titled as the CSR Policy (hereafter called the policy). This policy:

  • Has been developed in consonance with Section 135, Companies Act 2013 (referred to as the ‘Act’ in this Policy) and in accordance with the CSR Rules (referred to as ‘Rules’ in this Policy) notified thereof by the Ministry of Corporate Affairs, Government of India on 27th February 2014;
  • Shall apply to all CSR activities undertaken in by Matrix as per Schedule VII of the Act, for the benefit of marginalized, disadvantaged, poor or deprived sections of the community and the environment.
  • All the CSR activities would be undertaken within India only.

Vision Statement and Objective of the Policy

Vision Statement

In alignment with the vision of the Company, Matrix will aspire to be a responsible Corporate Citizen, by contributing to nation building through CSR activities, in true letter and spirit, as enshrined in the Act. For this Matrix will also adopt appropriate business processes and strategies as part of its normal functioning to ensure that its commitment to this ethos is reinforced in the larger national interest.

Objective of the Policy

The objective of this CSR Policy is to:-

  • define what Corporate Social Responsibility means to Matrix and the approach for the same
  • define Company’s framework for CSR
  • identify areas of intervention that will be taken up by Matrix as part of its CSR
  • nmoinate a CSR Committee that will ensure compliance to Section 135 and oversee implementation of CSR policy and interventions
  • put in place general guidelines to be followed

This policy is applicable with immediate effect.

CSR Framework

CSR Framework of Matrix

At Matrix, we see CSR as our commitment to manage and improve the economic, environmental and social implications of our activities at local, regional and global levels. CSR will be used as a framework through which we can engage in multi-stakeholder partnerships for sustainable development and creating shared value. Our CSR framework is therefore, oriented towards taking up programmes that benefits the communities over a period of time, in enhancing the quality of general life and well‐being of the local populace.

In Matrix, CSR activities will be identified in consultation with the community in a participatory and collaborative manner. Subsequently, based on a consensus and discussions with the stakeholders, these activities will be prioritized. Arising from this the focus areas that have been prioritized are as follows:-

  • Promoting preventive health care and sanitation.
  • Promotion of education including special education.
  • Ensuring environmental sustainability, measures for protection of flora, fauna, animals, agro forestry, conservation for natural resources etc.
  • Contribution of Prime Minister Relief Fund, Swachh Bharat Abhiyan or any other Central / State government fund.

Matrix will frame doable, sustainable and scalable CSR activities around these areas. These activities are in line with Schedule VII of Companies Act 2013 and beyond business as usual.

Matrix further reinstate that all the CSR activities undertaken by the Company will have:-

  • Need Based Assessment/Baseline Survey/Study where considered necessary/feasible
  • Clearly identified & measurable objectives /goals in identified sectors and geographies;
  • Clearly identified time frame – start date and end date;
  • Specific annual financial allocation;
  • Clearly identified beneficiaries
  • Clearly identified milestones
  • Comprehensive and concurrent documentation
  • Robust, periodic review & monitoring;
  • Evaluation & Assessment
  • Mandatory Reporting as per rules under Section 135

The CSR activities undertaken would be inconsonance with Schedule VII of the New Companies Act, 2013.

CSR Budget

  • The Board of Matrix shall ensure that the company spends each Financial Year at least two per cent of the average net profit made during the three immediately preceding FYs;
  • Utilization Certificates against actual spends will be obtained and diligently documented by the Company;
  • Matrix declares that if it is not able to spend the allocated amount to CSR in any particular year, it would specify reasons for not spending as per Section 134 (3) (o).
  • If the Company makes any surplus or profit from pursuing its CSR activities, these will not form part of the business profit but instead will be ploughed back to its CSR activities.
  • When undertaking a CSR activity in collaboration with other companies, institutions, the company will report on its share of CSR expenditure only.

CSR Committee of the Board

Board Committee on CSR

The following Directors would be the members of the CSR Committee :-

  • 1.Mr. Manjit Singh Dugal, Chairperson
  • 2.Mr. Gagan Deep Singh Dugal, Director
  • 3.Ms. Gulkirat Kaur Panag, Independent Director

This CSR Committee along with the Board shall be responsible for all decision making with regard to this CSR Policy of the Company.

Planning and Implementation

  • The CSR Committee of the Board will identify CSR activities to be undertaken as specified in Schedule VII of the Act;
  • A robust monitoring mechanism would be put in place to monitor the CSR activities.
  • The Board will ensure that this mechanism remains accountable to it through the CSR Committee as part of the governance of the CSR process;
  • The Board will mandatorily Report on the CSR activities undertaken by the company as per the Reporting Format provided by the Rules under Section 135 of the Companies Act, 2013.

Implementing Agencies

Matrix will carry out its CSR activities through its own foundation or through a Registered Trust, a Registered Society or a Section 8 Company Registered under Companies Act, 2013;

Matrix would ensure to check that if the CSR activity is carried out by any other Implementing agency (and not by its foundation) then it has an established track record of past three years in the similar field.

Monitoring and Evaluation

A comprehensive Monitoring mechanism will be devised by Matrix to ensure that:

  • as mandated by the Act and the Rules, and the CSR Policy is implemented ensuring that all activities as budgeted are duly carried out;
  • monitoring shall have both an electronic MIS and human architecture that must work together to ensure a firm check on the above;
  • a separate budget will be earmarked for setting up and running the monitoring system;
  • CSR spending will be closely monitored and funds shall be released only against verified utilizations;
  • all CSR spends will be audited in an accountable and transparent manner;
  • as a part of the monitoring mechanism the Company shall ensure regular field visits to the sites, activity-wise. Comprehensive documentation of the same in the form of Field Reports will also be done. The company also understands the importance of regular interaction with beneficiary communities to obtain feedback.

Documentation

Meticulous documentation of CSR activities will be done to ensure that progress is continuously tracked; course corrections are provided, lessons learnt and objective feedback is received.

Disclosure / Reporting

The Company shall follow and comply with the requirements for disclosure of the CSR Policy and/or CSR activities in the Board’s Report and on the website of the Company or otherwise, as may be required, in terms of the provisions of the Act.

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