Corporate Social Responsibility is strongly connected with the principles of Sustainability; an organization should make decisions not only based on financial factors, but also considering the social and environmental consequences. It is recognized that integrating social, environmental and ethical responsibilities into the governance of businesses ensures their long term success, competitiveness and sustainability. This approach also reaffirms the view that businesses are an integral part of society and have a critical and active role to play in the sustenance and improvement of healthy ecosystems, in fostering social inclusiveness, and in upholding the essentials of ethical practices and good governance.
TCG Lifesciences Private Limited (TCGLS), believes that in alignment with its vision, TCGLS through its CSR initiatives will continue to enhance value and promote social sustainability, sustainable development of the environment and social welfare of the people and society at large, more specifically for the deprived and underprivileged persons.
This policy, which encompasses the company’s philosophy to outline its responsibility as a corporate citizen and lays down the guidelines and mechanism for undertaking socially useful programmes for welfare & sustainable development of the community at large, is titled as the “TCGLS CSR Policy”. It has been prepared keeping in mind the Company’s code of business ethics and to comply with the requirements of Companies Act, 2013 (hereinafter called as “the Act”) and the Companies (Corporate Social Responsibility Policy) Rules, 2014, notified by the Ministry of Corporate Affairs vide Notification dated 27th February, 2014.
This policy shall apply to all CSR initiatives for the benefit of different segments of the society, specifically the deprived, under-privileged and differently abled persons.
Corporate Social Responsibility is a form of corporate self-regulation integrated into a business model. Therefore, the Policy will function as a built-in, self-regulating mechanism whereby the business will monitor and ensure its active compliance with the spirit of law, ethical standards and international norms.
The main objective of this Policy is to set guiding principles for carrying out CSR activities by the Company and also to set up process of execution, implementation and monitoring of the CSR activities to be undertaken by the Company.
The CSR Activities shall be undertaken only in India for the benefit of the public and not only for the employees of the Company and their family. Preference shall be given to the local areas and areas where the Company operates for undertaking the CSR Activities.