MUMBAI: As per Section 135 of the Companies Act, 2013, a Corporate Social Responsibility (CSR) committee has been formed by the Company. During the year, the Company was required to spend Rs. 12.57 crore as per the provisions of Section 135 of the Companies Act, 2013.
CSR amount required to be spent as per Section 135 of the Companies Act, 2013 by the Group during the year is Rs. 13.88 crore.
Expenditure incurred towards Corporate Social Responsibility for the year is Rs. 16.69 crore.
The CSR activities of the Group are taken care by Adani Foundation, a Charitable Trust set up by the Adani Group, where by the funds are allocated from the Group. The Charitable Trust carries out the CSR activities as specified in Schedule VII of the Companies Act, 2013 on behalf of the Group.
During the year the Group has contributed Rs. 0.56 crore as donations to such trust as a part of CSR expenditure and has spent Rs. 1.13 crore for other charitable activities. During the year, the Company has contributed Rs. 15 crore to PM CARES FUND.
The CSR activities of the Company are generally carried out through charitable organisations set up by the Group, where funds are allocated from the Company. These organisations carry out the CSR activities as specified in Schedule VII of the Companies Act, 2013 on behalf of the Company. During the year, the Company has contributed Rs. 15 crore to PM CARES FUND.
The Company carries its CSR activities through its dedicated CSR wing i.e. Adani Foundation.
The major CSR activities are in the Sectors of Primary Education, Community Health, Sustainable Livelihood Development, Rural Infrastructure Development, Cultural Promotion, promoting Nationally Recognized Sports and contribution to PM Cares Fund.
Corporate Social Responsibility
Adani Foundation, the CSR arm of the Adani Group, is engaged in activities across 18 States and 2,250 villages and towns, touching more than 5,00,000 families.
The CSR programmes provide communities with quality education, health, safety, sanitisation, sustainable livelihood development and infrastructure development.
The Foundation has also implemented four special projects (Saksham, Swachhagraha, SuPoshan and Udaan).
The Company has framed Corporate Social Responsibility (CSR) Policy which encompasses its philosophy and guides its sustained efforts for undertaking and supporting socially useful programs for the welfare & sustainable development of the society.
The Company carries out / implements its CSR activities/projects mainly through Adani Foundation.
The Company has constituted a CSR Committee as required under Section 135 of the Companies Act, 2013 and rules framed there under.
Adani Foundation, have undertaken several initiatives to engage with and ensure sustainable development of the marginalised groups in the local communities.
Adani Foundation is the CSR arm of the Adani Group. Since its inception in 1996, the Foundation has been working in four core areas of Education, Community Health, Sustainable Livelihood Development and Community Infrastructure Development.
The Adani Foundation stands for the values of courage, trust and commitment. What began in a few rural communities around Mundra port, Gujarat, has now expanded to 18 states in India, going far beyond the regions where Adani Group companies are functioning.
Adopting an approach that embodies innovation, people participation and collaboration with key stakeholders, the Adani Foundation is achieving inclusive growth and bringing about sustainable development, thereby contributing towards nation building.
During the year under review, 2 (two) meetings of CSR Committee were held on 6th May, 2020 and 3rd February, 2021, company’s annual report informed.
The Adani Group has been promoted by the visionary industrialist Mr. Gautam Adani.
The group was founded by Gautam Adani in 1988 as a commodity trading business, the flagship company being Adani Enterprises Limited (previously Adani Exports Limited), the report said.
The Group’s extensive business interests across India’s infrastructure sector – transport, logistics, energy and utilities –possess a proven track record of excellence in business development, construction and maintenance. The Group comprises among the largest infrastructure and utility portfolios in the world.