MUMBAI (India CSR): The Board of Directors of Rain Cements Limited today approved a list of CSR projects for the financial year ending December 31, 2023. The projects are designed to benefit the communities in which the company operates and to support the company’s commitment to corporate social responsibility.
The approved projects include:
- Maintenance of schools and hospitals in Ramapuram Village, Mellacheruvu Mandal, Suryapet District, Telangana State, India, and Boincheruvupalli Village, Peepully Mandal, Kurnool District, Andhra Pradesh State, India.
- Undertaking other charitable activities prescribed under Schedule VII of the Companies Act, 2013.
- Donation to charitable institutions.
- Donations to government departments.
The CSR activities will be executed through Pragnya Priya Foundation, a Section 25 Company under the Companies Act, 1956 (Section 8 of the Companies Act, 2013). Pragnya Priya Foundation is registered under Section 80G and 12A of the Income Tax Act, 1961 and it is in existence for more than 3 years.
The amount to be spent on CSR activities will be donated to Pragnya Priya Foundation, which will spend the funds towards the approved projects. Pragnya Priya Foundation will provide quarterly reports on the projects to the company.
The CSR Committee of the company is responsible for overseeing the implementation of the CSR projects. The committee is composed of the following directors:
N. Radhakrishna Reddy – Chairman
Jagan Mohan Reddy Nellore – Member
N. Sujith Kumar Reddy – Member
Suri Babu Samudrala – Member (Independent Director)
The company is committed to corporate social responsibility and believes that these projects will make a positive impact on the communities in which it operates.
