OBJECTIVE

The objective of this Policy document is to articulate Rubek Balloons private Limited’s core philosophy of social responsibility, to define the areas and to indicate activities chosen by Rubek Balloons Private Limited (“Rubek Balloons” or “Company”) to impact the society with its efforts towards Corporate Social Responsibility (“CSR”) and to define the governance & monitoring framework for ensuring effectiveness of the Policy.

CORPORATE SOCIAL RESPONSIBILITY VISION

To create a social impact nationwide by constantly giving back to the community by identifying and facilitating growth in areas which are less privileged.

CSR COMMITTEE

In accordance with Section 135(9) of the Act, the establishment of a CSR Committee is not mandatory for Rubek. Therefore, the responsibilities of the CSR Committee will be carried out by the Board of Directors of Rubek. However, to ensure informed and expert decisionmaking in selecting CSR activities, the Company has formed a Sub-Committee. A list of the Sub-Committee members is attached to this Policy as Annexure – I.

The Quorum for the Sub-Committee meeting shall be two members or one-third of the members of the Sub-Committee whichever is greater.

The Sub-Committee shall meet at least once in every Financial Year.

The Board of Directors shall have the power to make any change(s) in the constitution of the Sub-Committee, as may be required from time to time.

Upon any change in the constitution of Sub-Committee including change in the designation of member(s), the Chairman of the Committee is authorized to amend the list of members of Sub-Committee which is annexed to this Policy as Annexure - I.

CORPORATE SOCIAL RESPONSIBILITY MISSION

To create change where it is needed most –among nation’s less privileged and to demonstrate our beliefs through an integrated social program that seeks social inclusion.

ANNUAL ACTION PLAN

The Committee of the Board of Directors of the Company shall on an annual basis, recommend an Annual Action Plan to the Board for its approval. The Annual Action Plan shall include:

• the list of CSR projects or programmes that are approved to be undertaken in areas or subjects specified in Schedule VII of the Act;
• the manner of execution of such projects or programmes.
• the modalities of utilisation of funds and implementation schedules for the projects or programmes.
• monitoring and reporting mechanism for the projects or programmes.
• details of need and impact assessment, if any, for the projects undertaken by the company.

Further, the Board may during the year, at the recommendation of the CSR Committee alter such plans.

IMPLEMENTATION OF CSR PROJECTS / PROGRAMMES

Subject to the provisions of the Act as applicable from time to time, the Company may carry out its CSR activities:

• Either by itself; OR
• through such Implementing Agencies permitted under the Act; OR
• in collaboration with other Companies.

GOVERNANCE & MONITORING OF CSR ACTIVITIES

The Board will have an oversight on the adherence to this Policy. Company Secretary of the Company shall act as the Secretary to the Committee. The Sub-Committee shall,-

• Formulate and recommend to the Board, a Corporate Social Responsibility Policy which shall indicate the activities to be undertaken by the company as specified in Schedule VII;
• Recommend the amount of expenditure to be incurred on the activities referred to in clause
• Monitor the Corporate Social Responsibility Policy of the company from time to time;
• Formulate annual action plan including inter alia the recommendation, manner of execution of projects, modalities of utilization of funds and implementation schedules, monitoring and reporting mechanism;
• Monitor implementation of the CSR projects and annual action plan;
• Approve various disclosures to be made in the Annual Report; and
• Identify CSR projects including multiyear ongoing projects.

GEOGRAPHICAL REACH

The Company shall give preference to the local area and areas around the branches, warehouses, marketing and administration offices and factories of the Company for spending the amount earmarked for CSR activities. The activities will be restricted to the geographical boundaries of India.

GENERAL

The CSR Policy would be subject to revision/amendment in accordance with the guidelines as may be issued by Ministry of Corporate Affairs from time to time, on the subject matter.

The power to interpret and administer the Policy shall rest with the Managing Director of the Company under the supervision of the Board. The Managing Director is also empowered to make any supplementary rules/orders to ensure effective implementation of the Policy. These will, however, be reported to or tabled before the Committee of the Board, from time to time, to ensure Committee’s oversight on these issues.