Vector Management Consulting Private Limited (“Vector”) is committed to operate and grow its business in a socially responsible manner. Vector has undertaken various corporate social responsibility (“CSR”) initiatives earlier and will continue to do so in future.
Constitution of a CSR committee of the board of directors and formulation of a CSR policy is required under Section 135 of the Companies Act, 2013, including any modifications, amendments or re-enactment thereof (the “Act”) for companies having (i) net worth of at least Rs. 500 crore; or (ii) turnover of at least Rs. 1,000 crore; or (iii) net profit of at least Rs. 5 crore, during a financial year. The net profit of Vector in the previous financial year was more than Rs. 5 crore and accordingly, the adoption of a corporate social responsibility policy (the “CSR Policy”) is required in accordance with the provisions of the Act.
Accordingly, the board of directors of Vector (the “Board”) has in its meeting held on 5th June, 2014 constituted a CSR Committee (as defined below). The CSR Committee has formulated and recommended to the Board this CSR Policy which encompasses its philosophy and guides its sustained efforts for undertaking and supporting socially useful programs.