Corporate Social Responsibility

ANNUAL ACTION PLAN FOR CSR ACTIVITES FOR THE FINANCIAL YEAR 2023-24

OF

AAKASH HEALTHCARE PRIVATE LIMITED (“Company”)

1. The annual action plan for the CSR activities of the Company for the financial year 2023-24 was approved by the Board in its meeting held on 30.09.2023. The annual action plan is in line with the CSR Policy of the Company read with Schedule VII to the Companies Act, 2013.

2. CSR Contribution for financial year 2022-23

The Company shall spend at least 2% of average net profit of the Company made during the three immediately preceding financial years. The Company has average net profit of Rs. 4362.87 lakhs during the three immediately preceding financial years (i.e 2020-21, 2021-22 and 2022-23), therefore the Company is required to make CSR Contribution of Rs. 29.09 Lakh during the financial year 2023-24.

3. CSR Programme Areas

The Company will focus primarily on the following programmes:

• Healthcare

The Company will aim to promote preventive healthcare in the most remote corners of the country with the aim of making quality healthcare accessible & affordable for all. To do this the Company will:

• Promote preventive healthcare through awareness campaigns in rural as well as urban areas,
• Conduct free screening and diagnostics camps as part of promotion of preventive healthcare,
• Provide free treatment including emergency care, ambulance support, consultation, investigation and pharmacy at identified locations and camps for the benefit of marginalized and disadvantaged.

The Company will work on several educational initiatives to provide quality education, training, skill enhancement for improving the quality of living and livelihood. Initiatives are aimed at:

• Promoting primary and secondary education,
• Enabling higher education through merit cum means scholarships, including for differently abled across the country,
• Using sports as a tool for development of students in both urban and rural settings,
• Promoting higher education including setting up and supporting universities,
• Skill development and vocational training.
  
  
• The Company will promote preventive healthcare and education with partnership with external social bodies / NGOs.
• The Company will contribute to the Prime Minister’s National Relief Fund (PMNRF) or Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund).

4. The manner of execution of such projects or programmes:

The Company shall implement the execution of CSR projects or programmes by the Company itself or through external implementing agencies permitted under law.

5. The modalities of utilisation of funds and implementation schedules for the projects or programmes:

Dr. Aashish Chaudhry, Managing Director shall review every project/programme in which CSR funds are to be utilized and thereafter release the funds. The Company shall consider such projects / programmes that can be implemented within a period of 1 (one) year.

6. Monitoring and reporting mechanism for the projects or programmes:

As per the mechanism prescribed under CSR Policy.

7. Details of need and impact assessment, if any, for the projects undertaken by the company:

Not Applicable to the Company.

Corporate Social Responsibility Policy

Of

AAKASH HEALTHCARE PRIVATE LIMITED (“AHPL”)

Introduction

We perceive Corporate Social Responsibility (CSR) as our responsibility towards contributing to society, empowering individuals and enabling them to live a life of dignity. For us, strengthening the moral fabric of the society is also a duty which we wish to include in our CSR activities. The CSR philosophy of the Company is embedded in its commitment to all stakeholders, employees, customers, shareholders and society. Our sustainable approach by practicing service to humanity has enabled us to continue fulfilling our commitment to be a socially responsible corporate citizen. Our objective is to manage our business in a way which produces a positive impact on the economy, society and environment.

CSR Vision and Mission

Taking CSR as a sustainable social initiative, we aim to align and integrate our resources with society’s developmental needs towards creating a better tomorrow.

Approach to CSR

Our approach will be that CSR activities shall be undertaken by either by the Company itself, or in line with the CSR Policy of the Company, in partnership with external social bodies / NGOs or by an entity established by the Company itself or along with any other company fulfilling the requirements mentioned under Companies Act, 2013 (“Act”)  or by a company established under section 8 of the Act, or a registered public trust or a registered society,  established by the Central Government or State Government or by a company established under section 8 of the Act, or a registered public trust or a registered society, exempted under sub-clauses (iv), (v), (vi) or (via) of clause (23C) of section 10 or registered under section 12A and approved under 80 G of the Income Tax Act, 1961, and having an established track record of at least three years in undertaking similar activities

CSR Thrust Areas

The following CSR activities are planned to be undertaken by AHPL, pursuant to Schedule VII of the Companies Act, 2013:

• Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation including contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water; or
• promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects.; or
• promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups; or
• ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga; or
• protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional art and handicrafts; or
• measures for the benefit of armed forces veterans, war widows and their dependents, Central Armed Police Forces (CAPF) and Central Para Military Forces (CPMF) veterans, and their dependents including widows; or
• training to promote rural sports, nationally recognized sports, paralympic sports and olympic sports; or
• contribution to the prime minister’s national relief fund or Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) or any other fund set up by the central govt. for socio economic development and relief and welfare of the schedule caste, tribes, other backward classes, minorities and women; or
• (a) Contribution to incubators or research and development projects in the field of science, technology, engineering and medicine, funded by the Central Government or State Government or Public Sector Undertaking or any agency of the Central Government or State Government; and
• (b) Contributions to public funded Universities; Indian Institute of Technology (IITs); National Laboratories and autonomous bodies established under Department of Atomic Energy (DAE); Department of Biotechnology (DBT); Department of Science and Technology (DST); Department of Pharmaceuticals; Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH); Ministry of Electronics and Information Technology and other bodies, namely Defense Research and Development Organization (DRDO); Indian Council of Agricultural Research (ICAR); Indian Council of Medical Research (ICMR) and Council of Scientific and Industrial Research (CSIR), engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs).; or
• rural development projects; or
• slum area development; or

Explanation.- For the purposes of this item, the term slum area shall mean any area declared as such by the Central Government or any State Government or any other competent authority under any law for the time being in force.

• disaster management, including relief, rehabilitation and reconstruction activities.
• Such other activities as may be included in Schedule VII of the Companies Act, from time to time.

Exclusion from CSR

The following activities shall not form part of the CSR activities of the Company:

1. The activities undertaken in the normal pursuance of the normal course of business of Company
2. CSR activities/programs or activities that benefit only the employees of the Company and their families
3. Any contribution directly/indirectly to political party or any funds directed towards political parties or political causes
4. Any CSR projects/programs or activities undertaken outside India.

• Activity supported by the Company on sponsorship basis for deriving marketing benefits for its products or services;
• Activities carried out for fulfilment of any other statutory obligations under any law in force in India;

CSR Committee

The requirement for constitution of CSR Committee does not applicable to the Company as the amount to be spent by the Company under Section 135(5) of the Companies Act, 2013 does not exceed Rupees 50 Lakhs, therefore the Board of Directors of Company shall be responsible for the implementation/monitoring and review of this policy and various projects / activities undertaken under the policy.

Roles and Responsibilities of the Board

The Board of Directors inter-alia will be responsible for monitoring CSR activities and has the following powers:

1. Seek monitoring and implementation report from implementing agency(ies).
2. Delegate a designated company official to co-ordinate with the implementing agency(ies) to inspect the CSR activities undertaken and ensure information in a timely manner.
3. Ensure that in each financial year that the Company shall spends at least 2% of the average net profits of the Company made during the 3 immediately preceding financial years.
4. Disclosing contents of CSR Policy in Board’s Report and also place it on the Company’s website, aakashhealthcare.com.
5. Ensuring annual reporting of CSR Policy to the Ministry of Corporate Affairs, Government of India, as per the prescribed format.

Annual Action Plan

Formulation of annual action plan by Board of the Company, which shall include the following:

1. CSR projects or programmes to be undertaken as per Schedule VII of the Act;
2. Manner of execution of such projects or programmes;
3. Modalities of utilisation of funds and implementation schedules for such projects or programmes;
4. Monitoring and reporting mechanism for such projects or programmes; and
5. Details of need and impact assessment, if any, for the projects undertaken by Company.

Selection, Implementation and Monitoring of CSR Activities

Prior to commencement of the CSR activities/ projects, AHPL will carry out a baseline study of the potential areas. The study may, inter alia, encompass various parameters such as literacy levels, health indicators, sustainable livelihood processes, population data, state of poverty, state of infrastructure, etc.

From the data generated a short-term plan and a long-term plan will be developed for the holistic and integrated development of the potential people, wherever necessary.

AHPL shall implement the activities under CSR Policy on its own or through external implementing agencies permitted under law.

All CSR activities/ projects will be assessed under the agreed strategy, and monitored on a periodic basis, measured against targets and budgets. Wherever necessary, midcourse corrections will be made.

CSR Budget

CSR activities spending in a year shall not be less than 2% of the average net profits made during the three immediately preceding financial years. In case the Company fails to spend such amount, the Board shall specify the reasons in the Board’s Report for not spending the specified amount and, unless the unspent amount relates to any ongoing project, transfer such unspent amount to a Fund specified in Schedule VII, within a period of six months of the expiry of the financial year.

CSR Policy mandates that the surplus arising out of the CSR activities/ projects/ programs shall not form part of the business profit of AHPL. CSR expenditure shall not include any expenditure on any item not in conformity as per the Schedule VII of the Companies Act, 2013.

Policy Modification

The Board of AHPL will review the CSR Policy from time to time based on the changing needs and aspirations of the target beneficiaries and take necessary actions to make suitable modifications from time to time as may be necessary.

Disclosure

The Annual Report of the Company would include a section on CSR outlining the CSR Policy, CSR Committee, CSR initiatives undertaken by the Company, the CSR spend during the financial year and other information as required by the prevailing law.

Our Board of Directors, our Management and all of our employees are being encouraged to internalize our CSR philosophy of going beyond profit seeking. We stand committed to all the necessary resources required to meet the goals of Corporate Social Responsibility.

(This policy has been formulated by the Board at its meeting held on 22.12.2022)