The terms of the reference for the constitution of the Corporate Social Responsibility Committee which shall be as under:

a. Approving the CSR policy of the Company as may be recommended by the CSR Committee, subject to necessary changes/modifications as the Board may deem fit.

b. Ensuring that in each financial year the Company spends such amounts for CSR activities as may be stipulated in the Act, as amended from time to time. (presently 2% of the average net profits of the Company made during the three immediately preceding financial years)

c. Ensuring that the activities as are included in the CSR Policy are undertaken by the Company itself or through the entities recognized for CSR implementation under the Companies (Corporate Social Responsibility Policy) Rules (“CSR Rules”) as amended from time to time.

d. Satisfying itself that the funds so disbursed have been utilized for the purposes and in the manner intended.

e. Monitoring the implementation of the ongoing projects with reference to the approved timelines and year- wise allocation and making modifications, if any, for smooth implementation of the projects within the overall permissible time period.

f. Approving an Annual Action Plan as may be recommended by the CSR Committee, subject to necessary changes/modifications as the Board may deem fit, based on the reasonable justification to that effect.

g. Ensuring that the administrative overheads do not exceed five percent of total CSR expenditure of the Company for the financial year

h. Approving, by means of a resolution, the carry forward of excess amounts spent towards CSR during a particular financial year against the CSR obligations of the Company for upto three immediately succeeding financial years

i. Reviewing the Impact Assessment Reports to be annexed to the Company’s annual report on CSR activities

j. Displaying the composition of the CSR Committee, CSR Policy and CSR Projects approved by it on the Company’s website