Falcon – A Machine For Mankind

  • Inventor of 60 ft. (18 mtr.) Duty Point Head per Storage in V6 Borewell!
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CSR Policy

INTRODUCTION & MEANING OF CSR

The Ministry of Corporate Affairs has enforced Section 135 of the Companies Act, 2013 regarding Corporate Social Responsibility (CSR), effective from 1st April, 2014. As per this provision, every company meeting any of the following criteria during any financial year—

  • Net worth of ₹500 crore or more,
  • Turnover of ₹1,000 crore or more, or
  • Net profit of ₹5 crore or more—

is required to constitute a CSR Committee of the Board and spend at least 2% of the average net profits made during the three immediately preceding financial years on CSR activities.

At Falcon Pumps Pvt. Ltd., we believe that our responsibilities extend beyond our business operations. An organization is accountable not only to its inner circle (management and employees) but also to the outer circle—the society in which it functions. CSR is our commitment to operate ethically and contribute to the social and economic development of the communities we serve.

Through our CSR efforts, we aim to integrate the interests of all stakeholders and align them with the company’s values, strategies, and actions.

GUIDING PRINCIPLES

Our CSR initiatives are driven by the following core principles:

  • Adherence to ethical standards and transparency.
  • Respect for cultural, economic, and social diversity.
  • Prioritization of community needs and sustainable development.
  • Focus on long-term social impact.
  • Compliance with applicable laws and regulations.

APPLICABILITY

This CSR Policy applies to Falcon Pumps Pvt. Ltd., its Board of Directors, CSR Committee, employees, and all relevant stakeholders involved in CSR-related projects and initiatives undertaken by the company.

CSR COMMITTEE

The Board of Directors of Falcon Pumps shall constitute a CSR Committee comprising three or more directors, with at least one being an independent director (if applicable).
The CSR Committee shall:

  • Formulate and recommend the CSR Policy to the Board.
  • Recommend the amount of expenditure to be incurred on CSR activities.
  • Monitor the implementation of CSR projects.
  • Ensure that the CSR activities are aligned with Schedule VII of the Companies Act, 2013.

OBJECTIVE OF THE BOARD OF DIRECTORS

The Board of Directors shall:

  • Approve and adopt the CSR Policy as recommended by the CSR Committee.
  • Ensure the company spends, in every financial year, the prescribed amount on CSR activities.
  • Monitor and ensure proper implementation and reporting of CSR initiatives.
  • Disclose the contents of the CSR Policy in the Board’s report and on the company website.

SCOPE & FUNCTION

CSR at Falcon Pumps extends to activities mentioned under Schedule VII of the Companies Act, 2013, which may include but are not limited to:

  • Promoting education and skill development
  • Environmental sustainability and conservation
  • Healthcare and sanitation
  • Women empowerment and gender equality
  • Rural development and infrastructure
  • Support during disasters and pandemics

CSR SPEND

The company shall spend at least 2% of its average net profits during the preceding three financial years on CSR activities. If the company fails to spend the prescribed amount, the reasons for the same shall be disclosed in the Board’s Report.
Unspent CSR amount, if related to an ongoing project, shall be transferred to a special “Unspent CSR Account” within 30 days and utilized within three years. If not related to an ongoing project, it shall be transferred to a fund specified in Schedule VII within six months.

FOCUS AREAS OF THE CSR POLICY

Our CSR efforts will primarily focus on the following areas:

  • Education: Enhancing access to quality education, scholarships, and infrastructure support.
  • Environment: Initiatives for water conservation, afforestation, and renewable energy.
  • Health & Sanitation: Organizing health camps, providing medical aid, and improving sanitation facilities.
  • Livelihood: Promoting vocational training and skill development.
  • Community Welfare: Infrastructure support in rural areas, disaster relief, and promoting sports and culture.

IMPLEMENTATION

CSR projects shall be implemented either directly by the company or through:

  • A registered trust or society
  • A company established under Section 8 of the Companies Act, 2013
  • Any entity registered with the Ministry of Corporate Affairs for undertaking CSR activities

The implementation process will include planning, budgeting, execution, and regular monitoring to ensure effective delivery and impact measurement.

REVIEW OF THE POLICY

The CSR Policy shall be reviewed periodically by the CSR Committee and recommended to the Board for amendments, if necessary, to remain compliant with regulatory requirements and aligned with company goals.