CORPORATE SOCIAL RESPONSIBILITY POLICY

 

 

1. INTRODUCTION:

 

Moonfrog’s Corporate Social Responsibility initiatives are based on the principle of making an enduring impact on the society through programs that promote social and economic well being.

We believe in acting ethically and contributing to the economic development while improving the quality of life of the local community and society at large.

 

 

2. OUR CSR VISION:

 

  • To promote social and economic inclusion by ensuring that marginalized communities have equal access to healthcare services, educational opportunities, and proper civic infrastructure.
  • To join hands with the Government through contributions for common pooling of resources for the promotion of common objectives throughout India.

 

 

3. OUR PHILOSOPHY:

 

As a socially responsible corporate, Moonfrog acknowledges its responsibility towards the environment, the marginalized communities and other stakeholders. Moonfrog aims to fund projects in the areas of healthcare, basic amenities, right to live and education. Moonfrog believes that in order to make a meaningful impact, we need to partner with the government and like-minded organizations.

 

 

4. CONSTITUTION OF CSR COMMITTEE:

 

The Board of Moonfrog will constitute or reconstitute from time to time as may be considered or deemed necessary, CSR Committee in such manner and as may be prescribed by the Companies Act, 2013.  The following shall be their responsibilities in brief:

 

  1. Recommend to the Board of Directors of Moonfrog the CSR activities to be undertaken as specified in Schedule VII and those which are outlined in this CSR Policy;
  2. Recommend the amount of expenditure to be incurred;
  3. Review the programmes from time to time;
  4. Allocate the budgets in line with the defined priorities and goals;
  5. Institute a transparent monitoring mechanism for implementation of CSR projects or programs or activities undertaken by Moonfrog;
  6. Monitor CSR Policy from time to time;
  7. Such other matters as may be considered necessary for effective attainment of Objects specified in this Policy.

 

 

5. MEMBERS:

 

The CSR Committee will be nominated from time to time by the Board of Directors keeping in mind the minimum number of members prescribed under Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014.

 

Our current CSR Committee members are:

Name Title Designation
Mr. Ankit Jain Director Member
Mr. Tanay Tayal Director Member
Mr. Kumar Puspesh Director Member

 

 

6. PROCEEDINGS OF THE COMMITTEE:

 

a. Meeting of Committee:

The Members shall meet together for dispatch of CSR activities from time to time and at such intervals as the situation warrants as per the provisions of the Act.

 

b. Notice of the Meeting:

Notice in writing of every meeting of the Committee shall be given to every Member in the manner provided in the Companies Act, 2013 and the Secretarial Standards (SS-1) issued by the Institute of Companies Secretaries of India, as amended from time to time.

 

c. Quorum:

The Quorum of the Meeting of the Committee shall be one-third of its total strength or two Members, whichever is higher or as prescribed in the Companies Act, 2013 and the Secretarial Standards (SS-1) issued by the Institute of Companies Secretaries of India, as amended from time to time.

 

d. Adjournment of Meeting for want of Quorum:

If a Meeting of the Board could not be held for want of Quorum, then, unless otherwise provided in the Articles, the Meeting shall automatically stand adjourned to the same day in the next week, at the same time and place or, if that day is a National Holiday, to the next succeeding day which is not a National Holiday, at the same time and place.

 

e. Chairman:

 The Members of the Committee may nominate a Chairman for each of their Meetings.  Such Chairman shall preside over the deliberations at the Meeting, and also shall sign the Minutes of the Meeting.  However, in case if he is incapacitated or not available for such signing the Minutes of the Meeting, then the same may be signed by the Chairman of the next Meeting by passing a resolution by the Committee Members in this regard.

 

f. Resolution by Circulation:

 No resolution shall be deemed to have been duly passed by the Committee thereof by circulation unless the resolution has been circulated in draft, together with the necessary papers, if any to all the members of the Committee then in India and to all other members of the Committee at their usual address in India.

 

 

7. FOCUS AREAS OR LIST OF PROJECTS OF PROGRAMS TO BE UNDERTAKEN UNDER THIS POLICY:

 

To initiate qualitative CSR projects, focus of Moonfrog’s CSR Committee will presently be in those projects or programmes covering the following areas –

 

1. Health and Poverty:

 Eradicating hunger, poverty and malnutrition, promoting preventive health care through medical check-ups, health maintenance programmes, sports activities etc., treating all critical or life threatening diseases or accidental victims of downtrodden sections of society who have no means of treating themselves, promoting sanitation including by contributing to Swach Bharat Kosh set up by the Central Government, making available safe drinking water and all other programmes or projects which deal with promoting health and eliminating poverty.

 

2. Education and empowerment:

 Promoting education, including special education, employment enhancing vocation skills especially among children, women, elderly, and the differently abled, livelihood enhancement projects.

 

3. Environmental Sustainability:

Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources and maintaining quality of soil, air and water, including setting up of solar power for lighting, cooking and for all other purposes.

 

4. Fund set up by Central Government:

Contribution to the Prime Minister’s National Relief Fund or any other fund set up or notified by the Central Government for socio-economic development, relief or welfare of the specified classes of people, minorities or women.

 

The Company may also take up any other areas or programmes or projects or add new domains and increase the scale of its programmes which come under the activities specified in Schedule VII of the Companies Act, 2013 including contributions to disaster relief funds and such other areas/funds as may be notified by the Central Government from time to time.

 

 

8. MODALITIES OF EXECUTION AND MONITORING:

 

The CSR activities will be undertaken by the CSR Committee either directly or through tying up with such other entities/organizations which fall within the purview of or permitted under Rule 4 of the Companies (Corporate Social Responsibility Policy) Rules, 2014.

The Committee Members may either choose any one or more of their members OR induct officers or employees of Moonfrog or external experts or advisors to monitor the schemes in which Moonfrog is participating and report the status thereof to the Committee at periodic intervals.

 

 

9. GOING BEYOND POLICY IMPERATIVES:

 

Although our main thrust lies in providing support to the above-mentioned areas, the Company is not bound to restrict itself to it. The CSR Committee is empowered to develop and integrate business models with social and environmental priorities and processes in order to create shared value. The CSR Committee shall not contribute in the following manner under the CSR Policy:

 

  1. The projects or programs or activities that benefit only the employees of the Company and their families.
  2. One off events such as marathons/awards/charitable contribution/advertisement/sponsorships of TV programmes, etc.
  3. Expenses incurred by Companies for the fulfillment of any other Act/Statute of regulations (Labour laws, Land Acquisition Act, 2013, Apprentice Act 1961 etc.).
  4. Contribution of any amount directly or indirectly to any political party.
  5. Activities undertaken by the Company in pursuance of its normal course of business.
  6. The project or programmers or activities undertaken outside India.

 

 

10. APPROVAL OF PROJECTS:

 

Prior to the commencement of projects, there shall be a baseline study of the core focus areas and subsequent development of a project for satisfying the core focus areas, keeping in view the Company’s mission statement.

The Company shall also keep a check on the track record of at least three years of the Companies/Agencies through which Moonfrog seeks to undertake the projects, before considering them for approval.

 

 

11. BUDGET COMPUTATION AND ALLOCATION:

 

A specific budget shall be allocated to a specific project activity as prescribed under the Companies Act 2013.

The CSR Committee constituted shall monitor the project expenditure and the surplus arising out of the CSR activities will not form part of business profits of the Company.

 

 

12. AMENDMENT OF POLICY:

 

No amendment, change or modification to this Policy shall be effective or enforceable unless it is approved by the Committee and further approved by the Board of Directors of Moonfrog.

Except amendments with regard to Focus Areas, amendments shall be effective or enforceable on Committee’s approval subject to Schedule VII of the Companies Act, 2013.

 

 

13. REPORTING:

 

Information on the spending by Moonfrog shall be disseminated in the Annual Report in the manner required by the Companies Act.