The Jewelex Group has been at the forefront of CSR activities for the last 50 years even before it was mandated by law, and reaching out to the needy communities & underprivileged sections of society is in the DNA of the Kothari family.
The group has focused on areas of Healthcare and Education to bring about a socio-economic change in the lives of less privileged sections of society.
The Jewelex Group’s CSR Policy is rooted in the Company’s core values of Integrity, Innovation, Caring and Excellence guided by international standards and best practices. Programmes, projects and activities carried out in this regard are the subject matter of the Policy.
Our Board of Directors, Management and all our employees subscribe to the philosophy of compassionate care. We believe and act on an ethos of generosity and compassion, characterized by a willingness to build a society that works and cares for everyone. This is the cornerstone of our CSR Policy.
“To actively contribute to the social and economic development of the communities/ geographies in which we operate, resulting in better & sustainable way of life for the weaker/less privileged sections of society and contribute to the country’s Human Development Index”
Keeping in line with Section 135 of the Companies Act, 2013 (hereinafter referred to as “the Act”), the Board of Directors of the Company shall form Corporate Social Responsibility Committee (hereinafter referred to as the “CSR Committee”), to inter alia, carry out following functions:
The CSR Committee of the company would comprise of 3 Directors viz. 1) Mr. Nilesh P. Kothari 2) Mr. Anish P. Kothari and 3) Mr. Ashish P. Kothari.
The Chairman of the Committee would be Mr. Nilesh P. Kothari.
In accordance with the primary CSR philosophy of the Group and the specified activities under the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, and any amendment(s) thereof, the CSR activities of the Company will have the following thrust areas :-
The process of CSR identification is consultative and participatory with the community. The company believes in meeting with the representatives of the community and NGO organisations for whom the CSR activity will be supported. Subsequently, based on consensus and discussions the projects are prioritized.
All the community projects are supported by the Family Patriarchs (shareholders), Mr. Pravin Kothari and Mr Piyush Kothari.
Jewelex Group carries out a survey of the communities which encompasses various parameters such as health indicators, literacy levels, sustainable livelihood processes, population data – below the poverty line and above the poverty line, state of infrastructure etc. Based on this, an action plan is prepared and is then shared with the CSR Committee and the projects which are approved are monitored regularly. CSR Committee may spend CSR funds on any of the following activities, as per Sec. 135 of the Companies Act, 2013.
Reporting : The CSR initiatives would be reported in the Board of Directors Report (Annual Report), as prescribed under the provision of Sec. 135 of the Companies Act, 2013.
The administration and execution of identified CSR initiatives are undertaken under the leadership and active participation of the Directors of the Jewelex Group. The Jewelex group has a CSR official who reports to the Board to ensure it’s successful and time bound implementation.
The CSR expenditure will include all expenditure, direct and indirect, incurred by the Company on CSR activities undertaken in accordance with approved CSR plan. The surplus, if any, arising out of the CSR projects or activities, shall not form a part of the business profit of the Company and will be ploughed back into the CSR activities.
The CSR Corpus would comprise of 2% of the preceeding 3 years’ average Net Profit before Tax and include any income arising therefrom.
JEWELEX REMAINS COMMITTED TO ITS PHILOSOPHY OF CONTRIBUTING TO CSR ACTIVITIES YEAR AFTER YEAR.