ENQUIRY

  • CSR (Corporate Social Responsibility)

  • Home >  About Us   >  CSR

Aastrid Life Sciences Pvt Ltd ("Aastrid” or "the Company") has always believed that sustainable environmental and social stewardship are key factors for holistic business growth in addition to continued good economic performance of the Company. Hence Aastrid has adopted the following corporate social responsibility (“CSR”) initiatives.

The CSR policy is aimed at providing a dedicated approach to community development thereby to fulfil our CSR commitments. Aastrid aspires to work towards improving community life around its sites in Mahape, Mahad units focusing on healthcare infrastructure, supporting primary education, rehabilitating destitute individuals, sustainable livelihood training and disaster relief & rehabilitation.

Aastrid’s CSR Policy intends to strive for all round economic development that positively impacts society at large with minimal resource footprint. Embrace responsibility for the Company’s actions and encourage a positive impact through its activities to support communities, stakeholders and society through sustainable development to alleviate hunger, poverty and malnutrition and to protect the environment.

CSR Tree

Aastrid will undertake its CSR activities (being projects I programs I other permitted activities), approved by the CSR Committee either directly or through the NGO Freedom for You Foundation and I or such other eligible entity / organization as approved by the CSR Committee (hereinafter referred to as Freedom4U or NGO”

The surplus arising out of the CSR activities shall not form part of the business profit of the Company. Such surplus shall be spent towards its CSR activities in accordance with this policy.

Identification and implementation of multi-year CSR projects/ programs (“Ongoing Projects”) will be monitored by the CSR Committee and the Board of Directors of the Company ("the Board”) as required under the Applicable Law.

The CSR Committee shall decide on the locations for CSR activities and formulate and recommend to the Board for approval a CSR annual action plan, which shall contain all matters which are required under the Applicable Law and any other matters as the CSR Committee may deem fit from time to time.

The Board may modify the annual action plan as per the recommendations of the CSR Committee at any time during the financial year, based on reasonable justification.

Impact assessment, if applicable and if required, shall be undertaken by the Company or by recipient or Freedom4U or an external agency as required by and in the manner set out under the Applicable Law, and the impact assessment report(s) shall be placed before the CSR Committee and the Board, and shall be disclosed as legally required.

The CSR Committee shall be comprised in accordance with the requirements of the Applicable Law. Aastrid will be mandated to form committee only when it will spend >50Lakhs p.a. for CSR. This CSR Policy, details of the composition of the CSR Committee and projects approved by the Board shall be hosted on the Company's website at www.aastridlifesciences.com

The Company can undertake CSR activities either by itself or through other entities eligible to undertake CSR activities under the Applicable Law. Accordingly, Aastrid has chosen Freedom For You Foundation, a NGO, and will work closely with and support the Board and the CSR Committee in carrying out the CSR activities of the Company. Freedom4U will assist the CSR Committee in identifying the areas of CSR activities and execution of initiatives as per defined guidelines. Freedom4U will also assist the Board and the CSR Committee in reporting the progress of deployed initiatives and in making appropriate disclosures (internal I external) on a periodic basis.

Freedom4U will send requests for funding of projects throughout the calendar year 2023. Aastrid’s CSR committee will evaluate these proposals for CSR projects & the projects will be prioritized by assessing their potential impact. The CSR Committee will deliberate on the proposals and approve proposals for implementation at its discretion.

Aastrid’s representatives and Freedom4U will collaborate with stakeholders to monitor the status of each project and will report its findings to the CSR Committee periodically to enable the Board and the Management of the Company to meet their reporting, monitoring and other legal obligations.

In any year, where the Company has spent in excess of its CSR obligation, such excess spending shall be available for set off against the Company's CSR obligations for up to the next three financial years in accordance with Applicable Law, and the Board shall be competent to pass a resolution in this regard.

With guidance and support from the senior management and the whole-hearted participation of the entire team, we hope to continue giving back to society and empowering the under-privileged.