ANNUAL REPORT ON CORPORATE SOCIAL RESPONSIBILITY (CSR) ACTIVITIES
(Pursuant to Section 135 of the Companies Act, 2013 read with the Companies (Corporate
Social Responsibility Policy) Rules, 2014, including any statutory modification(s) or
re-enactment(s) for time being in force).
1. Brief outline on CSR Policy of the Company.
It has been Hitech's resolute mission to promote life skills and value education. The
Company's focus areas are Education and Skill Development, Health and Wellness,
Environmental Sustainability and restoration of heritage sites. While doing meaningful
contribution to the society through its active participation, the Company undertakes its
CSR activities either directly or through its CSR wing - "Sab Ka Mangal Ho
Foundation" (a registered public charitable trust) or in partnership with other NGOs
having similar objectives. The projects undertaken are within the broad framework of
Schedule VII of the Companies Act, 2013 as amended from time to time.
Sab Ka Mangal Ho Foundation was founded in 2016 with an ambitious mission to make the
world a happier place by serving communities at all levels of wellbeing - physical,
emotional, and spiritual. It achieves this through a vast array of programs for
underprivileged citizens that range from yoga teaching, free eye care clinics to
environmental clean-up efforts, pairing with local NGOs, corporations, and philanthropic
individuals to roll out large-scale campaigns.
One of its pet projects have been giving yoga education to the children in the
orphanages; giving access to the vulnerable children the lifechanging benefits of yoga.
The long-term goal of the project is to empower as many children in India as possible and
to provide vocational skills for teens to eventually become yoga teachers.
Physical fitness and mental serenity being the two most essential factors for human
evolution, our endeavour has been to promote yoga education; to empower these children and
help them to move and grow mindfully as they become future citizens of the nation. SOSVA
who has been our execution partners have been leading this project on behalf of Sab Ka
Mangal Ho Foundation.
The Company has a well-defined CSR policy and the same is available on the website of
the Company under the web-link -https:// hitechgroup.com/investor/Display/codeofConduct
2. Composition of CSR Committee:
| Sr. No. |
Name of Director |
Designation/Nature of Directorship |
Chairman/ Member |
Number of meetings of CSR Committee held during the year |
Number of meetings of CSR Committee attended during the year |
| 1 |
Mr. Jayendra R. Shah |
Independent Director |
Chairman* |
1 |
1 |
| 2 |
Mr. Malav A. Dani |
Managing Director |
Member** |
1 |
1 |
| 3 |
Mr. Bomi P. Chinoy |
Independent Director |
Member |
1 |
1 |
| 4 |
Mr. Aditya Sheth |
Independent Director |
Member |
1 |
1 |
*Redesignated from Member to Chairman w.e.f. May 15, 2022
**Redesignated from Chairman to Member w.e.f. May 15, 2022
3. Composition of CSR Committee, CSR Policy and CSR projects approved by the board are
disclosed on the website of the Company https://
hitechgroup.com/investor/Display/codeofConduct
4. The details of Impact assessment of CSR projects carried out in pursuance of
sub-rule (3) of rule 8 of the Companies (Corporate Social responsibility Policy) Rules,
2014, if applicable (attach the report): Not Applicable
| 5. |
Sr. No. |
Particulars |
Amount ( in lakhs) |
|
(a) |
Average net profit of the company as per section 135(5) |
2,134.70 |
|
(b) |
Two percent of average net profit of the company as per section 135(5) of the
Companies Act, 2013 |
42.69 |
|
(c) |
Surplus arising out of the CSR projects or programmes or activities of the previous
financial years |
Nil |
|
(d) |
Amount required to be set off for the financial year, if any |
1.04 |
|
|
Total CSR obligation for the financial year (7a+7b-7c) |
41.65 |
6. (a) CSR amount spent or unspent for the financial year:
| Total Amount Spent for the Financial Year. ( In lakhs) |
Amount Unspent ( in lakhs) |
|
Total Amount transferred to Unspent CSR Account as
per section 135(6) |
Amount transferred to any fund specified under
Schedule VII as per second proviso to section 135(5) |
|
Amount |
Date of transfer |
Name of the Fund |
Amount |
Date of transfer |
| 41.65 |
-- |
-- |
-- |
-- |
-- |
(b) Details of CSR amount spent against ongoing projects for the financial year:Nil
(c) Details of CSR amount spent against other than ongoing projects for the
financial year:
|
|
|
|
Location of the project. |
|
|
Mode of Implementation -Through implementing agency |
| Sl. No. |
Name of the Project |
Item from the list of activities in schedule VII to the Act. |
Local area (Yes/ No) |
State |
District |
Amount spent for the project (In lakhs) |
Mode of Implement- tation Direct (Yes/No) |
Name |
CSR registration number |
| 1 |
Yoga Teaching |
Promoting education including special education, employment enhancing vocational
skills especially among children, women elderly and the differently abled and lively hood
enhancement projects |
Yes |
Maharashtra |
Pune |
18.65 |
No |
Sab Ka Mangal Ho Foundation (SKMH) |
CSR00012303 |
| 2 |
Skill Development of Teacher |
Promoting education including special education, employment enhancing vocational
skills especially among children, women elderly and the differently abled and lively hood
enhancement projects |
Yes |
Karnataka |
Bengaluru |
5.00 |
No |
Caring With Colours |
CSR00005909 |
| 3 |
Cancer treatment and related expenses |
Eradicating hunger, poverty and malnutrition promoting health care
including preventive health care and sanitation including contribution to the Swachh
Bharat Kosh set-up by the Central Government for the promotion of sanitation and making
available safe drinking water |
Yes |
Maharashtra |
Pune |
7.00 |
No |
Nag Foundation |
CSR00003508 |
| 4 |
Development work at School |
Promoting education including special education, employment enhancing vocational
skills especially among children, women elderly and the differently abled and lively hood
enhancement projects |
Yes |
Tamil Nadu |
Chennai |
11.00 |
No |
Sri Ramakrishna Mission Sarada Vidyalaya |
CSR00006101 |
| (d) |
Amount spent in Administrative Overheads |
NIL |
| (e) |
Amount spent on Impact Assessment, if applicable |
-- |
| (f) |
Total amount spent for the Financial Year (8a+ 8b+8c+8d+8e) |
41.65 lakhs |
| (g) |
Excess amount for set off, if any |
-- |
7. (a) Details of Unspent CSR amount for the preceding three financial years:Not
Applicable
(b) Details of CSR amount spent in the financial year for ongoing projects of the
preceding financial year(s): Not Applicable
8. Whether any capital assets have been created or acquired through Corporate Social
Responsibility amount spent in the Financial Year: No
9. Specify the reason(s), if the company has failed to spend two per cent of the
average net profit as per sub section (5) of section 135 of the Companies Act, 2013: Not
Applicable
For and on behalf of the CSR Committee
| Jayendra R. Shah |
Malav Dani |
| Independent Director & Chairman - CSR Committee |
Managing Director & Member - CSR Committee |
| (DIN: 00132613) |
(DIN: 01184336) |
| Date: May 17, 2023 |
Date: May 17, 2023 |
| Place: Mumbai |
Place: Mumbai |