As per the Companies Act, 2013, Company is required to constitute a CSR committee of the Board of Directors and formulation of CSR Policy to carry out CSR activities
CSR activities undertaken by the company reflect the core values and achievements of how Quick Heal does business as an employer, a software provider and a corporate citizen – a necessity that demands that Quick Heal be trustworthy, an ethical business partner that customers can count on.
Digital security is of utmost importance in the current scenario. Quick Heal believes that progress is possible only with a deep commitment to community welfare. Since inception, the goal has been to protect customer from Internet-based attacks and intrusion by hackers.
Quick Heal conducts cyber safety and awareness workshops for school and college students, teachers and parents as an integral part of its corporate vision. It is an ambitious cross-district project to Educate, Empower and Protect India’s young cyber citizens on the topics of Online safety and security, Digital citizenship and information literacy.
The Company will select one or more of the CSR activities as per Schedule VII of the Companies Act, 2013 for implementation in the area of its operation.
The Companies Act, 2013 provides that the Company shall give the preference to the local area or areas around where it operates, for spending the amount earmarked for CSR. However the Committee may identify such areas other than stated above, as it may deem fit and recommend it to the Board for undertaking CSR activities.
- Contribution of any amount directly or indirectly to any political party under section 182 of the Act, shall not be considered as CSR Activity/Expenditure.
- CSR Activities undertaken in pursuance of the normal course of business of the Company and CSR Activities which benefit only the employee of the company and their family shall not be considered as CSR Activity.
- Composition of the CSR committee: Committee will consist of three or more Directors.
- The Company shall implement CSR activities by following means:
- Company may itself implement the CSR activities within the scope and ambit the CSR activities defined in this policy.
- Company will implement the CSR activities through a registered trust namely Quick Heal Foundation, established by the Company or otherwise Provided that:
- If such trust, society or company is not established by the Company or its holding or subsidiary or associate company, it shall have an established track record of three years in undertaking similar programs or projects;
- The company has specified the project or programs to be undertaken through these entities, the modalities of utilization of funds on such projects and programs and the monitoring and reporting mechanism.
- Company may also collaborate with other companies for undertaking projects or programs or CSR activities in such a manner that the CSR Committees of respective companies are in a position to report separately on such projects or programs in accordance with Companies (Corporate Social Responsibility Policy) Rules, 2014.
- Company may build CSR capacities of their own personnel as well as those of their Implementing agencies through Institutions with established track records, subject to prescribed CSR Rules.
- The Company, in every Financial Year, shall endeavor to spend such feasible amount as CSR Expenditure, which shall not be restricted by the statutory limit of a specified percentage of its average net profits of the immediately preceding three Financial Years. However, the aforementioned CSR Expenditure in any Financial Year shall be atleast 2% of Company’s average Net profits for the three immediately preceding Financial Years.
- Total CSR expenditure shall be approved by the Board upon recommendation by the CSR Committee
- In case the Company fails to spend the statutory minimum limit of 2% of Company’s average net profits of the immediately preceding three years, in any given financial year, the Board shall specify the reasons for the same in its report in terms of clause (o) of subsection (3) of section 134 of the Act.
- Any surplus arising out of the CSR Activities shall not form part of the business profit of the Company.
- CSR Committee shall monitor the CSR Policy and CSR Activities. For this purpose, the CSR Committee shall meet at such intervals as it may deem fit.
- Initiatives undertaken on the CSR front will be reported in the Annual Report of the Company.
- CSR Committee shall ensure that the CSR Policy is displayed on the Company’s website
The Board of Directors on its own and/or as per the recommendations of CSR Committee can amend this Policy as and when required as deemed fit. Any or all provisions of the CSR Policy would be subject to revision /amendment in accordance with the Regulations on the subject as may be issued from relevant statutory authorities, from time to time.
Any word used in this policy shall have the same meaning ascribed to it in the Companies Act, 2013 or Rules made thereunder, Accounting Standards or any other relevant legislation/law applicable to the Company.