csrpolicy

  1. Preamble
  • The Corporate Social Responsibility & Sustainability Policy (hereinafter referred as CSR&S policy) of Lark Laboratories (India) Limited (hereinafter referred as Lark Lab) is issued within the framework mentioned hereunder:
  1. Section 135 read with Schedule-VII of the Companies Act, 2013 and The Companies (CSR Policy) Rules 2014 along with amendments thereof (hereinafter referred as Act)
  • This Policy “CSR and Sustainability Policy” approved by the Board of Directors (hereinafter referred as BoD) of Lark Lab at its meeting held 15th Dec,2021 based on the guidelines/ circulars/ instructions issued by the Govt. of India including MCA.
  • This policy is consistent with the Act and Rules on CSR framed by MCA and the policy directions on the subject issued by the Government from time-to-time.
  • Whenever any amendments are made under the applicable provisions of Act & Rules framed thereunder on the subject, the same shall be duly incorporated in the policy document. As per the Act, modification/ amendment to the Policy will be approved by the BoD of Lark Lab on the recommendation of the CSR Committee of the Board, if any constituted.
  • In case of any conflict between this policy and Act or Rule made thereunder, the later shall
  • The focus sectors under CSR for the Company shall be in the areas of rural development, education, health, women empowerment, citizen centric services utilizing the tools & technologies. The Company may choose to take up other areas based on need assessment of the local community and geographic areas. The activities proposed to be undertaken under CSR shall include all activities consistent with CSR provisions of the Act and Schedule VII of Act, Rules framed thereunder.
  • The CSR&S Policy addresses social, economic and environmental concerns; and the selection of specific activities shall focus on the social, economic and environmental impact thereof. Lark Lab will strive to contribute to inclusive growth and sustainable development by taking up development of rural areas, empowerment of communities which have since long been socially marginalized, upliftment of underprivileged sections deprived of resources even for fulfilling their basic needs in health, nutrition, clothing, shelter, education,
  • CSR Committee of the Board

  When need arises, the Board may constitute a CSR Committee consisting of not less than three Directors.  The Board may prescribe the terms of reference, quorum and other duties and responsibilities of such Committee when constituted.

3.Nodal Officer

There shall be a Nodal Officer to assist the Board or the CSR Committee who will be nominated by the Chairman of Lark Lab  for all CSR related activities of the Company. The broad function of the Nodal Officer shall be as under: –

  1. To assist the Board or the CSR Committee in all the matters of CSR & Sustainability activities of the
  2. To receive CSR proposals from regions/agencies complete with details and reason for taking up and process the same as per defined processing framework.
  3. To plan, implement and monitor various CSR & Sustainability projects as approved by the
  4. To collect and provide various reports, status, overview of the CSR programs to the CSR Committee of Board as and when
  5. To facilitate the audit of CSR projects through internal or external agencies time to time and report to the

For taking care of day to day operations of CSR, he may be assisted by two dedicated executives (regular/outsource). The salary of these executives shall be charged under the CSR Head to the limited extent permitted under the administrative expenses.

  • The project proposal, if any, prepared or submitted by the external agency will include, to the extent possible, the following:
    1. Objectives
    2. Activities & Areas to be covered
    3. Performance indicators to monitor the stated objectives
    4. Expected benefits
    5. Base line survey/ Needs assessment
    6. Justification
    7. Implementation schedule with timelines
    8. Project cost covering project implementation cost and project expenditure on studies, reports, monitoring, audit,
    9. Year wise budget allocation
    10. Payment schedule
    11. Details of Project Execution agency
  • Project sanction: The project proposal shall be submitted by the Nodal Officer and will be put up for consideration and sanction of the Board or the CSR Committee as the case may be.
  • Impact Assessment: As far as possible, impact assessment studies of the project or program will be made, particularly for projects involving financial outlay of Rs. 1 crore or more, after their completion and necessary minimum gestation period, to ascertain the degree of its success, or failure with reference to the project report prepared at the commencement of the project or program. Lark Lab can utilize the services of specialized external agencies for impact assessment study also.

6.Budget & Expenditure

  • As per the provision of the Act, Company with the approval of BoD shall spend upon CSR activities for the year, which will be at least 2% of the average “net profits” of Lark Lab made during the three immediately preceding financial years. The computation of the “net profit” as defined under the section 135 of the Act shall be in accordance with section 198 of the Companies Act, 2013. Lark Lab Prix shall strive to maximize its spending on CSR
  • Lark Lab shall specify reasons, if it fails to spend the 2% of the average net profits of the last immediately preceding three financial years, in its Board Report. However, commitments / sanctions made during the year shall not lapse so as to ensure completion of sanctioned projects under It shall also ensure follow up of guidelines in relation to timely spending or otherwise of the amount allocated for CSR activities.

7.Reporting and Disclosure

  • As per clause (o) of sub section (3) of section 134 of the Act, Lark Lab shall report and disclose the contents of CSR&S Policy and CSR activities implemented by Lark Lab for the benefit of all stakeholders through the following:
  • Official website: larklab.com
  • Annual Report document

8.General

This CSR&S policy shall stand modified by the provisions of the Companies Act / Companies (CSR) Rules as amended from time to time and Government guidelines as and when these are in place and made enforceable.

  1. This policy would serve as the referral document for planning and selection of CSR & Sustainable activities, though, whenever in doubt, cross reference to Companies Act & Companies (CSR) Rules is advised to avoid any inconsistency with the
  2. The power to modify /amend the CSR Policy will rest with the Board of
  • The Chairman of the Board will be responsible for framing the rules/procedure in accordance with and in furtherance of the CSR Policy 2016, as approved and as amended by the Board from time to time and also for the overall implementation of the CSR Policy, 2016, in Lark Lab.

        COPY OF THE RESOLUTION PASSED BY THE BOARD OF DIRECTORS OF LARK LABORATORIES (INDIA)          LIMITED IN THEIR MEETING HELD ON 15th Dec,2021 AT THE REGISTERED OFFICE OF THE COMPANY.

=======================================================================

“RESOLVED THAT pursuant to the provision of Section 135 of the Companies Act 2013 (as amended or re-enacted from time to time) read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, the proposed draft of CSR Policy as placed before this Board be and is hereby approved and that the same be adopted as such.

‘FURTHER RESOLVED that the said Policy be placed on website of the Company as required under the law. Besides, updation on implementation of the CSR policy may also be reported and updated from time to time to the concerned authorities including to the members of the Company through the disclosures in Directors’ Report.’

FURTHER RESOLVED THAT for the purpose of giving effect to this resolution, Shri VK Gupta, Jt. Managing Director of the Company be and is hereby authorised, on behalf of the Company, to do all acts, deeds, matters and things as deem necessary, proper or desirable.”

Certified True Copy

For Lark Laboratories (India) Limited

(Aprajita Takiar)

Managing Director

COPY OF THE RESOLUTION PASSED BY THE BOARD OF DIRECTORS OF LARK LABORATORIES (INDIA) LIMITED IN THEIR MEETING HELD ON 15th Dec,2021 AT THE AT REGISTERED OFFICE.

========================================================================

“RESOLVED THAT pursuant to the provision of Section 135 of the Companies Act 2013 (as amended or re-enacted from time to time) read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, consent of the Board of Directors be and is hereby accorded for the constitution of CSR Committee effective from  April 2021  consisting of following Directors and Officers of the Company

  1. Mrs. KP Anand
  2. Mr. VK Gupta.
  3. Mr.Badri Bishal Tikmani

RESOLVED FURTHER THAT the CSR Committee role and responsibilities shall be as provided under section 135 of the Companies Act, 2013 and Rules therein, inter alia:

i)To formulate and recommend to the Board, a CSR policy which shall indicate the activities to be undertaken by the Company as per the Companies Act, 2013;

ii)To review and recommend the amount of expenditure to be incurred on the CSR related  activities to be undertaken by the company;

iii) To institute a transparent monitoring mechanism for the implementation of the CSR projects , programs and activities undertaken the Company from time to time;

  1. iv) Any other matter as the CSR Committee may deem appropriate after approval of the Board of Directors or as may be directed by the Board of Directors from time to time

RESOLVED FURTHER THAT Mrs. KP Anand shall act as Chairman of the CSR Committee until and otherwise decided by the Board.

RESOLVED FURTHER THAT the quorum for the CSR Committee Meeting shall be one-third of its total strength (any fraction contained in that one-third be rounded off as one) or two members, whichever is higher

FURTHER RESOLVED THAT for the purpose of giving effect to this resolution, Shri VK Gupta, Jt. Managing Director of the Company be and is hereby authorised, on behalf of the Company, to do all acts, deeds, matters and things as deem necessary, proper or desirable.”

Certified True Copy

For Lark Laboratories (India) Limited

 

(Aprajita Takiar)

Managing Director