The CSR initiatives of the Mukand Limited, a Bajaj Group organisation, emphasise education for self-reliance and growth, with focused approach targeted towards needy and sustenance of natural resources. In view of amendment to Section 135 of Companies Act, 2013, a company is to have a CSR Committee, if it is required to spend more than Rs. 50 Lacs toward CSR activities.
CSR Commitment
As the Company is not likely to spend more than Rs.50 Lacs, the present CSR Committee was dissolved with effect from May 25, 2021, and functions of the Committee are being discharged by the Board of Directors of the Company. The Company is not required to incur any expenditure in pursuance of the CSR Policy in view of the aggregate losses as calculated in accordance with Sections 135 and 198 of the Companies Act, 2013 during the three preceding financial years. However, the Company has carried out the following activities voluntarily under CSR.
At Steel Plant, Ginigera
In view of the COVID-19 pandemic crisis prevalent during the year under report, the Company distributed: masks and food packets comprising groceries. The Company sponsored Republic Day State Level Cricket tournament. It contributed towards Teachers’ honorarium. The Company also participated and encouraged Flag Day, local festivals / cultural activities. To protect environment, it contributed to Forest Department by purchasing: books on ‘Vana Vaibhava’ & computers and its requirements for conveyance for regular visits of officials of the Forest Department for observation / trail of animals, birds, etc. It also sponsored irrigation command committee meetings.
At Steel Plant, Dighe, Thane
The Company received financial support from The Niraj Bajaj Charitable Trust for all its CSR activities in the High Schools in Shahapur Taluka of Thane district. During the year under report, since schools remained closed on account of pandemic and on request from concerned authorities of the Schools, it distributed text books to over 6,300 students of classes 9 & 10 and long note-books to over 10,000 students studying in class 8, 9 & 10. These steps helped students to keep reading / writing and keep themselves abreast with lessons. Thus, this contribution went a long way in helping the students not forget what they have learnt.
By the Bajaj Group
In addition to the activities carried out by the Company, the Bajaj Group is involved in a number of CSR projects through various trusts and group companies. The guiding principles of spending on these projects are: benefit generations, educate for self-reliance and growth, promote health, encourage for self-help, focused approach, targeted towards needy and sustenance of natural resources.
These projects are in the areas of: rural development, education, health care, economic and environmental development, water conservation, restoration of water resources in water scarce and ecologically degraded dry land regions, social and urban development, technology incubators, COVID response, dry rations food packages to support families impacted by COVID-19, employment enhancing vocation skills and livelihood enhancement particularly for women, homes/hostels for women, education for differently abled children, wellbeing and development of 0 to 6 years old children, homeopathic corona response and renovation of health care facilities. The Group also manages schools, colleges, hospitals, and a nursing college.
It helps NGOs, Charitable Bodies and Trusts operating at various locations. One of the Trust of the Group also gives annual awards for outstanding contribution for constructive work for application of science, technology and upliftment and welfare of women and children along Gandhian lines. Rural and community development activities are also conducted.
