By Rusen Kumar
NEW DELHI: Naveen Jindal led Jindal Steel & Power Limited (JSPL), has spent Rs. 15.36 Crore during Financial Year 2016-17, however average net loss of the Company for last three financial years was Rs. 1095.19 crore,. Annual Report for the year 2016-17 said.
JSPL is amongst India’s fastest growing and largest business conglomerates with
significant presence in core infrastructure sectors including steel, power, mining and infrastructure.
During the challenging times, JSPL was often referred to as a debt-heavy company with a net debt of around Rs 46,000 crore.
“The Company strongly believes that sustainable community development is essential for harmony between the community and the industry. The Company endeavours to make a positive contribution especially to the underprivileged communities by supporting a wide range of socio-economic, educational and health initiatives.” it added.
Growing Sustainably with the Community
“Community interventions are as much a part of our overall priorities as improving business performance. Our focus areas comprise women empowerment, skill development, health and nutrition, sanitation, education and social infrastructure creation. The interventions have benefited over 10 lakh individuals in the states of Chhattisgarh, Odisha and Jharkhand.”, JSPL said.
As per the provisions of Section 135 of the Act, the Company has constituted a committee to formulate, implement and monitor the CSR Policy of the Company.
The Annual Report on the Corporate Social Responsibility (CSR) activities for the Financial Year 2016-17 as required under Section 134 and 135 of the Companies Act, 2013.
In line with the provisions of the Companies Act, 2013 read with Schedule VII to the Companies Act, 2013 and on the recommendations of the Health, Safety, CSR & Environment Committee, the Board of Directors has, in its meeting held on April 29, 2014, approved the CSR Policy of the Company.
Detailed CSR Policy of the JSPL has been uploaded on the website of the Company and can be viewed at below mentioned link:
The Health, Safety, CSR & Environment Committee of the Company comprises majority of Independent Directors – Arun Kumar – Chairman, Hardip Singh Wirk – Member, Ravikant Uppal – Member and Dinesh Kumar Saraogi – Member.
“We provide direct and indirect employment opportunities to over 50,000 people in India
and anchor a socio-economic ecosystem of over 100,000 families.”, report added.
(Rusen Kumar is the editor at India CSR. He can be reached at firstname.lastname@example.org)