Striving to do our bit for society
CORPORATE SOCIAL RESPONSIBLITY (CSR) POLICY:
Much before Corporate Social Responsibility [CSR] had become a mandatory responsibility of Corporates, your Company had engaged in such activities for decades for improving the health of particularly economically backward communities like Scheduled Tribes and in the field of education. Unichem being a pharmaceutical company, is naturally inclined to improve the health of general public at large and the Company is well known for its Quality and Reliability for over 6 decades. As a Policy, the Company had identified Health, particularly preventive health care for Scheduled Tribes and Education as its main focus of CSR projects and initiatives.
The present CSR initiatives focuses on two main recognized activities mentioned in Schedule VII of the Companies Act, 2013, namely promoting preventive health care and promoting education.
CSR POLICY ON PROMOTING PREVENTIVE HEALTH CARE:
The Company is engaged in the CSR project of catering to preventive health care with special focus on the economically backward community. Late Mr. Amrut Mody receipient of Padma Bushan along with co-founder, Late Mr. Shantibhai Sheth established the Adiwasi Unnati Mandal (AUM) which serves to the social needs especially of the economic backward community.
AUM caters to the medical needs of adiwasis [Scheduled Tribes] area almost 30km from Shahapur in Thane District of Maharashtra. AUM runs three primary health centres deep inside the Adiwasi area of Shahapur. The centres are fully equipped with medical facilities, medicines, doctors, paramedics and volunteers. Clinical Diagnosis through OPD camps for prevention and treatment of various ailments with particular emphasis on treating TB, Leprosy, Epilepsy, Diabetes, Cataract and Dental health care for Scheduled Tribes. AUM arranges free cataract and other surgeries through its association with Vision Foundation of India.
This is a continuous project/activity which started about 4 decades back and it has been continuously monitored by the Chairman & Managing Director [CMD] of the Company Dr Prakash A Mody who visits the centres alongwith a team of Doctors, Paramedics and Specialists on a regular basis throughout the year. Unichem has financially aided in setting up of these centres and also provides financial aid and medicines for conducting these preventive health care camps. Capital expenses for establishment of new centres or diagnostic equipments for the existing centres were earlier being reviewed by CMD will now be reviewed and monitored by the CSR committee from time to time.
CSR POLICY ON PROMOTING EDUCATION:
Unichem is the chief donor to Amrut Mody School of Management (AMSoM) which is promoted by Ahmedabad Education Society. AMSoM took its current shape after Ahmedabad Education Society established Ahemdabad University, recognized by UGC as private University. It is located in Ahmedabad and delivers business education through its three pioneer institutions. These are Postgraduate Institute of Management [PGIM]; H.L. Institute of Commerce [HLIC]; and B.K. Majumdar Institute of Business Administration [BKMIBA]. Each AMSoM institution has become the temple of high learning keeping in line with the vision of Ahmedabad University. AMSoM aims at providing global education at local costs, context and ethos. These institutions are already functional . Donations given by the Company are for the expansion and additional capital expenditure requirements of these Institutions. Mr. Prafull Anubhai, Independent Director on the Board of Unichem who is based in Ahmedabad monitors the execution of the projects without interfering in the day to day running of these institutions.
Unichem, apart from the Educational grant for the aforesaid institutions also provides financial assistance to all meritorious students who have economic need. AMSoM and its associate institutions run independently without any interference from Unichem or its Directors. The Board had already approved in principle to donate a sum of Rs. 15 crores in the year 2010 in all to the said Institutions to be used for various capital expenses over a period of 5 years. Out the aforesaid sum, Rs.11 crores has been already donated till March 31, 2014. All donations to the above said institutions which was hitherto monitored by Chairman and Managing Director and Mr. Prafull Anubhai will now be reviewed and monitored by the CSR Committee from time to time.
OTHER ENDOWMENTS FOR PROMOTION OF EDUCATION :
Unichem has contributed 1% of its issued capital to Bombay college of Pharmacy in form of shares as endowment. This endowment was made in the year 1985. Bombay College of Pharmacy is one of the pioneer pharmacy colleges in the country imparting quality education and training in the field of pharmacy over the last 50 years. The college uses the dividend earned on the shares for its institutional requirements and the Institution is independently run without any interference from Unichem.
In adherence with the Companies Act, 2013 and as per the requirements of Section 135 of the said Act, and Rules made thereunder, the Board of Directors at its meeting held on October 19 2013 has set up the Corporate Social Responsibility Committee. The Committee comprises of Dr. Prakash A. Mody , Chairman & Managing Director, as the Chairman of the Committee and Mr. Prafull Anubhai & Mr. Ramdas Gandhi, Non-Executive, Independent Directors as the other members of the Committee.