Corporate Social Responsibility Policy
| Issuing Authority
|| Mr. Rajesh C Bhandari- Managing Director
| Owner of the Document
|| Mr. Kamal Kant Gambhir- Director Finance
|| Version Date
|| Prepared By
|| Changes & Reasons for Change
|| 1st April 2014
|| Sunil Kumar
|| Policy Drafted & Circulated
|| 1st April 2015
|| Sunil Kumar
|| Amendment in Schedule VII of the Companies Act, 2013
|| 1st April 2016
|| Sunil Kumar
|| Change in Committee Members
- a. This CSR policy has been developed in consonance to Section 135 of the Companies Act 2013 (referred to as
the "Act" in this policy) on CSR and in accordance with the CSR rules (hereby referred to as the Rules) notified
by the Ministry of Corporate Affairs, Government of India in 2014.
- b. The Policy shall apply to all CSR projects/programs undertaken by the Company in India as per Schedule VII of
- c. This policy shall be applicable to Gates in India.
Introduction and Background
Gates India Private Limited ("Gates") Gates is India's most advanced and complete hose manufacturer. As the Indian subsidiary of Gates Corporation, USA, it has established itself firmly in the Indian hose market. Equipped with the latest technology, the manufacturing facility at Lalru, near Chandigarh, assembly facilities in Faridabad and Pune and having corporate office at Gurgaon.
Vision & Values
- Gates has been a socially responsible company since inception;
- Gates has been contributing for CSR activities to benefit the socially & economically disadvantaged
communities, Environmental sustainability, donating funds to various relief funds, and participation in other
Objectives of the Policy
- Actively support the state's development agenda, local social issues benefit to the society to ensure
- To participate in the skill development & vocational training program for enrichment of skills among various
students, trainees etc.
- Environmental consciousness and respect from the communities in which we operate.
A Committee consists of three or more directors shall be constituted by the board of directors of Gates India Private Limited (hereinafter referred as "CSR committee") and following shall be the member of the CSR committee:
- Mr. Rajesh C Bhandari- Managing Director
- Mr. Kamal Kant – Director
- Mr. Manoj K Saxena- Director
- Mr. Puneet Tuknait- DGM HR
- Mr. Piyush Jauhari- Head HSE
The CSR Committee will be responsible for compliance of Section 135 of the Act & rules made thereunder.
The Company's CSR programs will be identified and implemented according to the Board's approved CSR policy herein.
Responsibility of the Gates Board
The Board of directors of Gates India Private Limited will be responsible for the full compliance of the provision of Companies Act, 2013 and associated rules made thereunder and includes:
- a. Approving the CSR policy as formulated and modified if any by the CSR Committee.
- b. Ensuring that in each financial year the Company spends at least 2% of the average net profit before taxation.
- c. Ensuring that every financial year funds committed by the Company for CSR activities are utilized effectively
and regularly monitoring implementation.
- d. Disclosing in its Annual Report the names of CSR Committee members, the content of the CSR policy and
ensure annual reporting of its CSR activities on the Company website; and
- e. Ensuring annual reporting of CSR policy to the Ministry of Corporate Affairs, Government of India, as per the
This Policy is internal document of Gates & solely be used as per instructions and manner as may be prescribed from time to time. Gates disclaims any liability for use of policy for the purpose other than those for which this is designed.