Kuantum Papers Ltd. is dedicated to promoting sustained growth for the society and community through its services, actions, and programs in the areas where it operates.
New Delhi: Kuantum Papers Ltd. is committed to fulfilling its corporate social responsibility by actively contributing to the social and economic development of the communities in which it operates. During the year under review, 2021-22, the company has spent an amount of Rs. 102.16 lacs on CSR activities as against the budget of Rs. 101.99 lacs. This amount is 2% of the average net profit for the last three years.
In accordance with Section 135 of the Companies Act, 2013 and the relevant rules, the company has constituted a CSR Committee to oversee its CSR initiatives. The company’s CSR policy has been framed and is available on its website. The CSR Committee, in consultation with the Board of Directors, provides the strategic direction for the company’s external CSR drive and ensures effective monitoring of the CSR activities.
Kuantum Papers Ltd. has been actively involved in CSR initiatives for several years now, with an emphasis on environment conservation, reforestation, pollution control, and optimum utilization of treated water. The company has been spearheading a focused CSR drive targeted at community upliftment and development. The company has undertaken several programs relating to education, environment protection, health facility, infrastructure development, rural development, and more.
The company has also partnered with a NGO, Indo-Canadian Village Improvement Trust (ICVIT), to carry out its CSR activities. ICVIT is a partner of the Indo-Canadian Friendship Society of British Columbia, Canada, and is a registered charitable society under the laws of British Columbia and Canada.
Kuantum Papers Ltd. is committed to enhancing value creation in the society and the community in which it operates, through its services, conduct, and initiatives. The company’s vision is to actively contribute to the social and economic development of the communities of the area in which it operates, and in doing so, build a better, sustainable way of life for the underprivileged, and raise their overall standard of living. In addition, the company is committed to conserving and preserving the environment.
The CSR Committee is composed of three members, including a chairman. The members are Pavan Khaitan, Drishinder Singh Sandhawalia, and Shireen Sethi. The company’s CSR initiatives are directly undertaken by the company through its in-house CSR team and also through its partnership with ICVIT.
Kuantum Papers Ltd. has undertaken several CSR initiatives, including:
- Education: Programs relating to education such as assistance to schools.
- Health and Hygiene: Programs aimed at promoting health and hygiene in the communities.
- Rural Development: Programs aimed at promoting sustainable development in rural areas.
- Infrastructure Development: Programs aimed at improving infrastructure in the communities, including village school repairs, village road repairs, and more.
- Environment Conservation: Programs aimed at conserving and preserving the environment, including reforestation and pollution control.
- Water Utilization: Programs aimed at utilizing treated water effectively, including recycling it for irrigation purposes.
- Community Upliftment and Development: Programs aimed at improving the overall standard of living in the communities.
- Partnership with NGO: The company has also partnered with a NGO, Indo-Canadian Village Improvement Trust (ICVIT) to carry out its CSR activities.
Unspent CSR
| Financial Year | Amount Unspent on CSR activities for Ongoing Projects (in Lacs) | Amount Transferred to Special Account (in Lacs) | Amount Transferred after due date (in Lacs) | Date of Transfer |
| 2020-21 | 134.39 | NIL | 134.39 | 18.08.2021 |
This table displays the amount unspent on CSR activities for ongoing projects, and the amount transferred to a special account in compliance with the provision of sub-section (6) of section 135 of the Companies Act, 2013 by Kuantum Papers Ltd. for the financial year 2020-21. The company has transferred the unspent amount to a special account within 30 days from the end of the Financial Year.
(India CSR)
