Corporate Social Responsibility Policy
The main objective of Corporate Social Responsibility Policy is to make Corporate Social Responsibility a key business process for sustainable development of the society. Colourtex Industries Private Limited (Colourtex) will act as a good corporate citizen and aims at supplementing the role of Government in enhancing the welfare measures of the society within the framework of its policy.
Corporate Social Responsibility Policy of Colourtex has been framed in accordance with the provisions under Section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules, 2014 and Schedule VII of the Companies Act, 2013. The Corporate Social Responsibility Policy of Colourtex has been approved by the Company's Board of Directors at its meeting held on 01st May, 2014.
Colourtex's Corporate Social Responsibility Committee comprises of
• Shri. Jayantilal T. Jariwala , Chairman
• Shri. Vishadkumar. J. Jariwala, Member
• Shri. Pravinchandra. D. Kabutarwala, Member
• Shri. Kanakkumar. J. Jariwala, Member
• Shri. Maheshchandra. D. Kabutarwala, Member
In line with the provisions of Section 135 of the Companies Act, 2013, Colourtex envisages to spend each year two percent of the average net profits made by Company during the three immediately preceding financial years of the Company.
Colourtex shall seek to identify suitable programs / projects / activities as enumerated under Schedule VII of Companies Act, 2013, during the each year to ensure its contribution to the community and society at large.