myG CORPORATE SOCIAL RESPONSIBILITY (CSR) POLICY

MYG INDIA PRIVATE LIMITED

CORPORATE SOCIAL RESPONSIBILITY (CSR) POLICY

1. Preamble

MYG India Private Limited (“MYG”), as a responsible corporate citizen, believes that the foundation of any successful business lies in a strong and inclusive society. Beyond profitability, the Company recognizes its vital role in contributing to the social and economic development of the communities it operates in.

MYG is committed to conducting its business responsibly, ethically, and in compliance with all applicable laws, regulations, and internal policies.Sustainability and social responsibility form an integral part of the Company’s long-term vision and operational strategy.

To ensure structured, impactful, and scalable implementation of its CSR initiatives, MYG proposes to collaborate with eligible implementing agencies such as registered trusts, registered societies, and Section 8 companies, which comply with the provisions of the Companies (CSR Policy) Rules, 2014, including registration with the Ministry of Corporate Affairs (MCA) through Form CSR-1, and holding valid registrations under Sections 12A and 80G of the Income Tax Act, 1961. Additionally, MYG may directly undertake CSR projects or implement them through its own dedicated CSR team or foundation, where feasible.

2. CSR Objectives

The objective of this CSR Policy is to articulate the Company’s commitment to sustainable development and nation-building through structured and impactful CSR initiatives.

MYG’s CSR philosophy is rooted in the belief that:

“MYG is not just the financial heartbeat of the community, but also bears a vital responsibility to uplift the economic well-being of the common people.”

The Policy aims to:

Create livelihoods for people, especially those from disadvantaged sections of society, in both rural and urban areas.

Undertake projects that promote inclusive growth, improve quality of life, and uplift economic well-being

Support initiatives that align with environmental sustainability, education, healthcare, and community development.

3. Applicable Law

    ⚫  This Policy is framed in accordance with:

    ⚫  Section 135 of the Companies Act, 2013;

    ⚫  Schedule VII of the Act; and

    ⚫  Companies (Corporate Social Responsibility Policy) Rules, 2014, as amended from time to time.

4. CSR Committee

4.1 Composition

    ⚫  The CSR Committee shall consist of at least two Directors, including the Managing Director, who

          will serve as the Chairman.

    ⚫  The current composition of the CSR Committee is detailed in Annexure –1.

    ⚫  Any vacancy arising due to retirement, resignation, or removal shall be filled by the Board.

    ⚫  The membership of the CSR Committee shall be disclosed annually in the Board’s Report.

4.2 Meetings

    ⚫  The CSR Committee shall meet at least once in every financial year.

    ⚫  Quorum: One-third of the total strength of the Committee or two members, whichever is higher.

    ⚫  Meetings may be attended in person or through video/audio conferencing

    ⚫  Proceedings shall be recorded in writing and signed by the Chairperson.

4.3 Roles & Responsibilities

The CSR Committee shall:

    ⚫  Formulate and recommend the CSR Policy and Strategy to the Board.

    ⚫  Recommend CSR activities to be undertaken as specified in Schedule VII of the Act.

    ⚫  Recommend the amount of expenditure to be incurred on CSR activities.

    ⚫  Monitor the implementation of CSR projects and review progress periodically.

    ⚫  Ensure compliance with statutory requirements relating to CSR.

    ⚫  Carry out such other functions as may be assigned by the Board from time to time.

5. CSR Activities

In line with Schedule VII of the Companies Act, MYG may undertake the following CSR activities:

i. Rural Development Projects

    ⚫  Development of infrastructure (housing, roads, utilities).

    ⚫  Electrification and solar lighting in underserved villages.

    ⚫  Livelihood generation through skill development, agriculture, and micro enterprises.

    ⚫  Support for schools, hospitals, community halls, and healthcare centers.

    ⚫  Sustainable Development and Rural Governance.

ii. Hunger, Poverty, Malnutrition & Health

    ⚫  Food distribution and nutrition programs for underprivileged communities.

    ⚫  Promotion of sanitation and access to safe drinking water.

    ⚫  Community kitchens, food banks, and mid-day meal programs.

    ⚫  Preventive healthcare measures, health camps, and mobile medical units.

iii. Environmental Sustainability

    ⚫  Afforestation and tree plantation drives.

    ⚫  Promotion of renewable energy and energy efficiency.

    ⚫  Waste management, recycling, and composting initiatives.

    ⚫  Awareness campaigns on climate change and sustainable practices.

iv. Promotion of Education

    ⚫  Establishment of schools, colleges, and training centers.

    ⚫  Scholarships, study materials, and support for economically weaker students.

    ⚫  Special initiatives for differently-abled students.

    ⚫  Libraries, vocational training centers, and digital learning support.

v. Other Activities

Apart from the activities mentioned above, MYG may also undertake any other CSR initiatives, as approved by the CSR Committee from time to time, provided such activities fall within the purview of Schedule VII of the Companies Act, 2013.

6. Implementation

CSR activities may be carried out directly by the Company or through:

   ⚫  Its Foundation or

   ⚫  Registered public trusts, societies, or other eligible NGOs/implementing agencies.

   ⚫  Implementing agencies must be registered with the Ministry of Corporate Affairs by filing Form 

        CSR-1, in compliance with CSR Rules.

7. Allocation of Funds

The Company shall spend at least 2% of its average net profits of the three immediately preceding financial years, in line with Section 135 of the Act.

Surplus arising out of CSR projects shall not form part of business profits of the Company.

Any unspent CSR amount shall be:

   ⚫  Transferred to an Unspent CSR Account (if relating to ongoing projects), or

   ⚫  Contributed to funds specified in Schedule VII of the Act (e.g., PM CARES Fund, Swachh Bharat 

        Kosh), within the statutory timelines.

   ⚫  CARES Fund, Swachh Bharat Kosh), within the statutory timelines.

   ⚫  The CFO or person responsible for financial management shall certify the utilization of funds.

8. Monitoring & Reporting

   ⚫  The CSR Committee shall monitor project implementation and fund utilization.

   ⚫  Progress reports shall be presented to the Board periodically.

   ⚫  The Board’s Report shall include disclosures on CSR activities, as prescribed under the Act and 

        CSR Rules.

   ⚫  The CSR Policy shall be made available on the Company’s website.

9. Review & Amendment

The Board may amend, modify, or revise this CSR Policy on the recommendation of the CSR Committee, in line with changes in statutory provisions.

In case of any inconsistency between this Policy and the Companies Act/CSR Rules, the statutory provisions shall prevail.