Mindtree designs its CSR project interventions based on these needs and concerns.
Total expenditure incurred by Mindtree Limited on Corporate Social Responsibility (CSR) activities during the year ended March 31, 2022, is Rs 17.1 Crore (during the
year ended March 31, 2021, is Rs 0.8 Crore). This includes Rs. 7.7 Crore towards provision for unspent amount pertaining to ongoing projects (during the
year ended March 31, 2021: Nil). This amount will be transferred to ‘Unspent CSR account’ within 30 days from the end of the financial year, in accordance with the CSR rules. The Company’s CSR activities primarily focuses on programs that benefit the differently abled, promote education and create sustainable livelihood opportunities.
The social responsibility has been ingrained into the very mission of Mindtree since its inception and has evolved to impact society in multiple ways. Excess contribution amount of Rs 143.58 Million (Rs. 14.35 Cror) to PM CARES fund will be set off against the CSR obligation if the MCA, Govt. of India permits the same, company annual report said.
There is no unspent CSR amount in respect of other than ongoing projects for the year requiring a transfer to a Fund specified in Schedule VII to the Companies Act in compliance with the provision of sub-section (5) of section 135 of the said Act. Accordingly, reporting under clause (xx)(a) of the Order is not applicable for the year. In respect of ongoing projects, the Company has transferred unspent Corporate Social Responsibility (CSR) amount, to a Special account before the date of this report and within a period of 30 days from the end of the financial year in compliance with the provision of section 135(6) of the Act.
The CSR Committee met six times during the financial year 2021-22 i.e., on April 07, 2021, June 18, 2021, October 7, 2021, January 07, 2022, January 27, 2022 and March 14, 2022, the company report said.
As part of its Corporate Social Responsibility (CSR) initiatives, your Company has undertaken several projects in accordance with Schedule VII of the Act. Mindtree implements its CSR initiatives via two channels: Directly by Mindtree and Through Mindtree Foundation.
Its social responsibility manifests itself through Mindtree Foundation-led CSR initiatives and people-led initiatives in volunteering. Having started with a non-strategic approach to CSR, Mindtree has progressed to build rigorous systems, methods, and measurements. The Board-level CSR Committee looks into environmental and social topics. In turn, it is delegated to the management to monitor the activities undertaken with the supervision of the sustainability function.
The Board of Directors have constituted the Board-level CSR Committee, with an Independent Director being the Chairperson of the Committee, which presently consists of four Directors with one Executive Director (COO) and three Independent Directors. The CSR Committee consists of two male and two female Directors.
In turn, it is delegated to CPO to monitor the activities undertaken with the supervision of the sustainability function. The Board of Directors know stakeholder concerns, if any, through the Stakeholders’ Relationship Committee (SRC) updates. SRC of the Board has expanded its Terms of Reference (TOR) to include a review of people and procurement function.
Mindtree designs its CSR project interventions based on these needs and concerns. Integrated social solutions area results of such exercises. The NGO partners also provide Mindtree with inputs on vulnerable stakeholder needs and concerns from time to time. Mindtree’s recent initiatives for PwDs, with spectrum design approach, is one such instance where unattended needs of the PwD segment in times of the COVID crisis were noticed, heard, and responded to by Mindtree with a holistic approach (spectrum design).
