Annual Report 2016-17

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Annual Report 2016-17 • 71
Secretarial Standards
The Ministry of Corporate Affairs notioed the Secretarial Standards on Meetings of the Board of Directors (SS – 1) and
Secretarial Standard on General Meetings (SS – 2) effective from July 1, 2015. Your Company complies with the same.
Your Company will comply with the other Secretarial Standards issued by the Institute of Company Secretaries of India
(ICSI) as and when they are made effective.
Disclosure under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal)
Act, 2013
Your Company has an Anti-Se[ual Harassment Policy in place which is in line with requirements of the Se[ual
Harassment of :omen at :orkplace (Prevention, Prohibition and Redressal) Act, 2013. All employees (permanent,
contractual, temporary, trainees) are covered under this policy. Internal Complaints Committee(s) (ICC) has been set up
across all Company locations in India to redress complaints received regarding harassment. The cases reported to such
Committee(s) are investigated by the respective Committee(s) members and the detailed report thereon is presented
to the Board of Directors on a regular basis. During the year under report, your Company did not receive any case of
se[ual harassment and hence as on March 31, 2017, there were no pending cases of se[ual harassment in your Company.
Corporate Social Responsibility
Your Company formed a Public Charitable Trust, ‘Persistent Foundation’ in the onancial year 2008-09 to institutionalize
the Company’s CSR initiatives and to develop a systematic approach to administer the process of grant of donations.
During the year under report, Persistent Foundation (the ‘Foundation’) was able to create e[citement among employees
to participate in socially relevant causes. :ith cooperation of the employees of your Company, the Foundation has
set up several well-deoned programs and activities for the promotion of education, health, community welfare. These
activities are carried out through projects undertaken by the Foundation with the support of the employees and through
the Government authorities, reputed social organizations and institutions.
In addition to contributing ` 67.74 Million to the Foundation, your Company made donations to various other charitable
institutions directly and incurred cost of the technical contribution towards MGI-Shakti Project, an initiative of the
Government of Maharashtra and coordinated by McKinsey, India. During the year under report, your Company donated
a total of ` 70.03 Million, which qualioes as CSR e[penditure under Section 135(5) of the Companies Act, 2013. This
e[penditure is more than 2% of the Average Net Proots of your Company made during three immediately preceding
onancial years.
Your Company won the ‘Special Jury Award’ for Environment and Sustainability by Hyderabad Software E[porters'
Association (HYSEA) for its CSR wing for the onancial year 2015-16,
Report on CSR activities of your Company under the provisions of the Companies Act, 2013 during the onancial year
2016-17 is anne[ed hereto as Anne[ure E. A detailed Report on the activities of the Foundation forms part of this Annual
Report.
CSR Committee and CSR Policy
The Board of Directors of your Company has constituted the CSR Committee to help your Company to frame, monitor
and e[ecute the Company’s CSR activities under its CSR scope. The Committee deones the parameters and observes
them for effective discharge of the Company’s social responsibility.
The Board of Directors of your Company has further approved the CSR Policy of your Company to provide
a guideline for the Company’s CSR activities. The CSR Policy is also uploaded on your Company’s website at
'.
The Company’s CSR Policy highlights that the need for contributing to the society is very large and your Company
can make a more signiocant contribution by staying focused on few areas through its social initiatives. The CSR policy
recommends that your Company should consider contributing in the following areas:
1. Health
2. Education
3. Community Development
4. Assistance in natural calamities
The constitution of the CSR Committee is provided elsewhere in the Annual Report.