Annual Action Plan for F.Y 2020-21
Background: As per the provisions of the Section 135 of the Companies Act, 2013 and Corporate Social Responsibility (CSR) Rules, 2014, during the Financial Year 2021-22, Globus Infocom Limited is required to spend 2% of its average net profits during the immediately preceding 3 financial years on CSR activities. The total CSR amount to be contributed for the F.Y 2020-21 is Rs. 22,15,390/- (2% of the average profit).
CSR PROJECTS APPROVED BY THE COMPANY TO BE UNDERTAKEN FOR THE FINANCIAL YEAR 2020-21
|S.No||Focus Area from Schedule VII||Funds Allocation (INR)||Brief about the initiative||Location|
|1||Promoting education||Entry (ii) to schedule VII (Education and women empowerment)||9,73,500/- (Contribution in Kind)||Objective - to enhance the access to quality education in India. The company supports this initiative and has been working in the areas of education for the children by making education digitise & skill development. It is also a demonstration of interactive teaching method for schools’ teachers. The company believes that strengthening the education system is an essential investment in our country’s future and have pledged to contribute towards it.||PAN India|
|2||Contribution to Prime Minister’s Relief Fund||Entry (viii) to schedule VII (Socio-economic development)||4,35,000/-||General contribution for overall sustainability.||PAN India|
Note - For the remaining amount from total amount to be spent during F.Y 2020-21 of Rs. 22,15,390/- (2% of the average profit), the Company is still identifying the project/activities for spending the amount which is to be done till March 31, 2021. Also, there is unspent CSR amount pertaining to previous financial year 2018-19 amounting to Rs. 5,77,647/- which is carried forward and to be spend by the Company.
If the prescribed CSR amount could not be spent during the financial year due to delay in identification of projects, the same shall be spend as per the amendment dated January 22, 2021 in Sub section (5) of section 135 which states that if the Company fails to spend the amount prescribed in Section 135(5), the Company shall transfer such amount to a Fund specified in Schedule VII, within a period of 6 months of the expiry of the financial year i.e., before 30th September 2021.