In 2008, THDCIL had framed a Policy on Corporate Social Responsibility (CSR) known as ‘Scheme for Corporate Social Responsibility – Community Development (CSR-CD)’, which was adopted from financial year 2008-09. Consequent upon issue of guidelines by DPE in April, 2010, ‘THDC CSR- CD Scheme 2010’ was introduced. Subsequently, a separate policy on Sustainable Development was framed in 2012, which was based on DPE guidelines issued in September, 2011. As per aforesaid guidelines of DPE, Corporate Social Responsibility and Sustainable Development were treated as two separate subjects and accordingly dealt with separately for the purpose of MoU evaluation. Because of the close linkage between the concepts of Corporate Social Responsibility and Sustainable Development, DPE issued combined guidelines on Corporate Social Responsibility and Sustainability for CPSEs effective from 1st April 2013. In accordance with the said guidelines THDCIL CSR & Sustainability Policy-2013 was issued with the approval of the Board.
The Companies Act, 2013 has been enacted in August 2013 and Section 135 of the Companies Act deals with Corporate Social Responsibility, which is applicable to all companies, including CPSEs. The Companies covered under the eligibility criteria, based on threshold limits of net-worth, turnover, or net profit, as specified in Section 135(1) of the Companies Act, shall be required to take up CSR Activities. Companies (Corporate Social Responsibility Policy) Rule, 2014, under the provisions of the Companies Act, has also been notified, which is effective from 1st April, 2014. DPE has also issued revised guidelines vide OM Dated 21st October, 2014 on CSR and Sustainability for CPSEs effective from 1st April, 2014.
As required under Companies Act and CSR Rules, all companies covered under the eligibility criteria based on threshold limit of net-worth, turnover, or profit shall formulate a Corporate Social Responsibility Policy with the approval of Board for activities to be undertaken as specified in Schedule VII of the Companies Act. Also, as per DPE Guidelines all CPSEs must adopt a CSR and Sustainability Policy specific to the Company, with the approval of the Board of Directors. With the issuance of this policy, THDCIL CSR & Sustainability Policy-2013 issued with the approval of the Board stands superseded.
Updated on : 14/09/2022