CSR Policy

Corporate Social Responsibility (CSR) Policy

This policy in relation to the Corporate Social Responsibility ("CSR") of Nutado World Delights Private Limited is referred to as the "CSR Policy" and shall include any alterations, amendments, or modifications made from time to time.

1. Preface

Corporate Social Responsibility (hereinafter referred to as ‘CSR’) is the way and means through which corporates can repay the obligations made by the society by contributing the resources in its various forms as required for the efficient operation of the business.
CSR is strongly connected with the principles of sustainability. Organizations should make decisions based not only on financial or operational factors but also on the social and environmental consequences. Therefore, it is the core corporate responsibility of the Company to practice its corporate values through its commitment to grow in a socially and environmentally responsible way, while meeting the interests of its stakeholders.
This CSR policy is framed in terms of the Companies Act, 2013 (hereinafter referred to as 'the Act') read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 (hereinafter referred to as 'the CSR Rules'), as amended from time to time.

2. Objective

2.1 Nutado’s CSR policy will aim to work towards the following objectives:

  • Reducing food loss and waste

  • Increasing income and livelihoods for smallholder farmers

  • Promoting education in the field of food studies

  • Reducing carbon emissions and environmental impact of the food supply chain

2.2 Contribution to the eligible charitable Trust registered under the Societies Act for promotion of these objectives.
2.3 Promotion and financing any other activities to be advised by the Government or approved by the Board of Directors (‘Board’) from time to time.
2.4 Promote eligible Trusts and Societies and/or encourage eligible trusts and societies or other implementing agencies registered under section 8 of the Companies Act, who are engaged in promoting the above objectives solely with our company or jointly with any other companies.
2.5 To establish a process and mechanism for the implementation and monitoring of the CSR activities for the Company.

3. Applicability

The CSR Rules are applicable to Indian Companies or subsidiaries of Indian Companies and Foreign Companies operating in India and having a net worth of Rs. 500 Crores or more or turnover of Rs. 1000 Crores or more or a net profit of Rs. 5 Crores or more during the immediately preceding financial year.
The CSR Policy shall apply to all CSR projects/programmes/activities undertaken by the Company in accordance with the clauses contained herein and Section 135 of the Companies Act 2013 read with Companies (Corporate Social Responsibility) Rules, 2014 including all statutory modifications/amendments made thereof.

4. Responsibility of the Board of Directors

4.1 The Board shall constitute a Corporate Social Responsibility Committee of the Board for the purpose of preparing a detailed plan of the CSR activities including decisions regarding expenditure, types of activities to be undertaken, agencies like Trusts, Societies, individuals etc., to implement such CSR activities, and their roles and responsibilities, monitoring and reporting mechanism.
4.2 The Board shall, after considering the recommendations made by the CSR Committee, approve the CSR policy for the Company and disclose its contents in the Board’s report and also place it on the Company’s website. The Board shall ensure that the activities included in the CSR policy are undertaken by the Company and that the Company spends every financial year at least 2% of the average net profits of the company made during the 3 immediately preceding financial years. If the Company fails to spend such amount, the Board shall specify the reasons in its report. The Company shall give preference to the local areas.
4.3 The Directors are responsible for disclosure of information in the Directors’ report under Section 134(3)(O) of the Act, specifying reasons for not spending the required amount for CSR activities.

5. CSR Committee

5.1 Purpose: The Corporate Social Responsibility (CSR) Committee of the Company will be formed by the Board of Directors to assist the Board in carrying out its responsibilities as per the CSR Policy of the Company.
5.2 Composition: The CSR Committee will consist of 2 (two) or more members of the Board. The Board has the power to appoint or remove any Director and appoint another in his place by resolution.
a. At each meeting of the CSR Committee, members shall elect one of them as Chairman.
b. The Board may reconstitute the CSR Committee as and when required.
However, where the amount to be spent by a company under section 135(5) does not exceed Rs. 50 lakh, constitution of the CSR Committee shall not be applicable and the functions shall be discharged by the Board.
5.3 Meetings: The CSR committee may meet as and when required and can invite any person to attend and participate in discussions and deliberations if deemed fit.
5.4 Quorum: The quorum for CSR Committee meetings shall be 2 members or 1/3rd of total members, whichever is higher. A duly convened meeting with quorum shall be competent to exercise all powers vested in the Committee.
5.5 Invitees: The CSR Committee may invite employees or other persons to participate in meetings as deemed fit. Invitees shall not have voting rights.
5.6 Scope: The CSR Committee shall:

  • Formulate and recommend to the Board a CSR Policy indicating activities to be undertaken as detailed in Schedule VII to the Act.

  • Review the CSR Policy annually or as required.

  • Estimate and compute annual or project-based CSR expenditure as per the Act.

  • Monitor CSR initiatives and policy from time to time.

  • Formulate and recommend an annual action plan as prescribed in the Act or CSR Rules.

  • Perform other functions as required under the Act or CSR Rules.

6. CSR Activities

6.1 The Company, upon recommendation of its CSR Committee and approval of the Board, can undertake activities as part of CSR initiatives as defined in Schedule VII of the Companies Act 2013. Broad focus areas:

Reducing food loss and waste:
Approximately 40% of agricultural produce is lost or wasted due to inefficiencies in the postharvest supply chain, inadequate storage, and lack of market access.

  • Supporting research and innovation projects to minimize post-harvest losses.

  • Partnering with organizations for food redistribution.

  • Funding awareness campaigns on best practices.

Increasing income and livelihoods for smallholder farmers:
89% of all farmers in India are smallholder farmers with less than 2 acres of land.

  • Investing in capacity-building programs.

  • Supporting initiatives enhancing market access and fair pricing.

  • Collaborating with NGOs to diversify rural income streams.

Promoting education in the field of food studies:

  • Providing scholarships and grants for students in food and agriculture fields.

  • Supporting educational programs on sustainable food systems and nutrition.

Reducing carbon emissions and environmental impact of the food supply chain:

  • Funding sustainable farming practices (agroforestry, regenerative farming, etc.).

  • Supporting renewable energy adoption in agriculture.

  • Investing in research to measure and mitigate carbon emissions.

6.2 Preference will be given to undertaking CSR activities in and around local areas of Company operations.
6.3 Based on the scope above, the CSR Committee shall recommend specific CSR activities to the Board.
6.4 Designated staff shall provide assistance to the CSR Committee for data collection, surveys, and cost estimation. The Committee may engage external consultants with Board approval.
6.5 Details of CSR activities presented to the Board shall include:

  • Objectives and expected results

  • Relevant sector and nature

  • Focus area/location

  • Allocated amount

  • Indicative timelines

  • Implementation agency or collaboration details
    6.6 For long-term CSR activities, a detailed implementation schedule or milestones shall be submitted by the CSR Committee to the Board.
    6.7 Based on recommendations, the Board shall approve:

  • Specific CSR activities

  • Budget allocation

  • Mode of execution (direct/agency/collaboration)

7. Modalities of Execution / Implementation

a) CSR activities shall relate to the subjects specified in Schedule VII of the Companies Act, 2013 or its amendments.
b) CSR activities may be implemented by the Company directly or through:
i. A registered trust, society, NGO, or company under Section 8 of the Companies Act established by the Company or its subsidiary/associate.
ii. If not established by the Company, then in collaboration with organizations having at least three years’ track record in CSR activities.
iii. An agreement or written communication will be executed by the Company.
c) The Committee shall decide and recommend to the Board the CSR activities, area covered, implementing agencies, and expenditure allocation.
d) The CSR Committee may modify modalities and schedules of CSR projects.
e) Priority shall be given to communities in the vicinity of the Registered Office and showrooms.
f) CSR activities shall be undertaken within India.

8. CSR Expenditure

8.1 As per section 135 of the Act, the Company shall spend every financial year at least 2% of the average net profits of the preceding three financial years. Net profit shall be calculated under Section 198. Any surplus from CSR projects shall not form part of business profits.
8.2 CSR expenditure for projects and programs shall be approved by the CSR Committee and permitted by the Company post-approval.

9. CSR Monitoring

Various CSR activities, projects, and programs shall be monitored by the Company, and progress shall be reported periodically to the CSR Committee of the Board.