Corporate Social Responsibility (CSR)
JCRL’s project is funded by promoters’ contributions. The interest income generated from the surplus funds received through equity deposited in banks has resulted in a net profit of ₹540.35 lakhs for the financial year 2022-23. Based on the computation of net profit for CSR according to Section 198 of the Companies Act, 2013, ₹8.88 lakhs were allocated for Corporate Social Responsibility to be spent by the end of FY 2023-24.
Since the amount to be spent under CSR expenditure was less than ₹50 lakh, as per Section 135(9) of the Act, a CSR committee was not required to be constituted.
- Allocation: As per the computation of net profit for CSR according to Section 198 of the Companies Act, 2013, an amount of ₹8.88 lakh was allocated for Corporate Social Responsibility to be spent by the end of FY 2023-24.
- Exemption: Section 135(9) of the Act, introduced by the Companies (Amendment) Act, 2020, provides for an exemption from the requirement to constitute a CSR Committee where the amount to be spent under Section 135(5) does not exceed ₹50 lakh in a financial year. In such cases, the functions of the CSR Committee shall be discharged by the Board of Directors of the company.
- Survey: JCRL officials conducted a visit to Government schools near the construction site on 22.01.2024. During their visit they consulted with school principals to assess essential needs for improvement of the school infrastructure.
- Title of the Project: The project was named "Supply of items requested by representatives of Government schools in Chatra district in the vicinity of the project site with a purpose to improve the infrastructure of the schools located near JCRL's project site”.
- Actual Amount spent: Actual amount spent on CSR activities by JCRl was 9.19 lakh as approved by Board.
- Memorandum of Understanding (MOU): An MOU with People for Education Research Scholarship and Outward Nutrition (PERSON) (a Society, registered under Society Registration Act 160), the implementing agency, was signed on 26.02.2024. Funds were transferred to the implementing agency as per the terms of the MOU. Items were procured by the implementing agency and were installed as per the request submitted by representatives of the following Government schools:
LOCATION OF IMPLEMENTATION:
- 1. 10+2 Janta High School, Pathalgadda, Chatra
- 2. Utkramit prathamik Vidyalaya, Kubba Kala, Pathalgadda, Chatra
- 3. Utkramit prathamik Vidyalaya, Pipertoli, Chatra
- 4. Utkramit Madhya Vidyalaya, Angada, Chatra
| SI NO |
ITEMS SUPPLIED |
TOTAL |
SI NO |
ITEMS SUPPLIED |
TOTAL |
| 1 |
FAN |
36 |
6 |
WATER PURIFIER |
2 |
| 2 |
TUBELIGHT |
30 |
7 |
WATER COOLER |
2 |
| 3 |
BENCH Desk |
20 |
8 |
SOLAR PANEL |
3 |
| 4 |
Inverter |
4 |
9 |
SUBMERSIBLE PUMP |
1 |
| 5 |
BATTERY |
8 |
10 |
ROOF SHED |
4 |
The CSR activities were successfully carried out, ensuring that the allocated funds were utilized effectively for the benefit of the community surrounding the project site.
