Corporate Social Responsibility
Any Project falling under this category shall be dealt with as per the CSR Policy, as provided for under the Companies Act, 2013 and Companies (Corporate Social Responsibility Policy) Rules, 2014.
The Committee formed under this Guideline shall act and carry out all the activities on behalf of the CSR Committee of the Board of Directors of the Company.
Roles and responsibilities of the Working Committee with respect to CSR:
a. To formulate the CSR Policy and recommend the same to the CSR Committee and to the Board of Directors for its approval;
b. Be responsible for identification, selection, planning, execution, supervision, coordination and monitoring of various programmes/projects and activities;
c. To identify tax implications applicable, if any;
d. To recommend the CSR activities/projects and the amount to the CSR Committee & Board for relevant financial year;
e. To monitor the implementation of the CSR activities/projects through a transparent monitoring mechanism;
f. To prepare a “Responsibility Statement” to be given in the Annual Report;
g. To ensure receipt of Utilization Certificates along with the Statement of Expenditure (duly certified by the Chartered Accountant of repute), from the organizations/institutions to whom CSR Fund is allocated/by whom CSR Fund is spent;
h. To review performance of the Company in the area of Corporate Social Responsibility;
i. To ensure that the conduct of the CSR Policy is in line with the overall “Sustainability Objective” of the Daimler Group;
j. To carry out/implement the activities approved by the CSR Committee, implement any changes, modification, alteration or amendment in the processes of the CSR Committee.
Approval requirements (as prescribed by Daimler from time to time)
|Amount (in Euro)||Approval|
|Below 50,000||Local Approval Process|
|Above 50,000||Advance approval from Review Board on Sponsorship & Donations|
|Above 1 Million||Advance approval from Board of Management of Daimler AG|
Forex rate on the date of project approval to be considered.
All CSR donations must be documented in the Sponsorship and Donations Database from the first Rupee.