annual-report-FY2020

100 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 6. In case the Company has failed to spend the two per cent, of the average net pro t of the last three Financial Years or any part thereof, the company shall provide the reasons for not spending the amount in its Board Report – Not applicable, since the Company has spent the two per cent of the average net pro t of the last three Financial Years as per the Companies Act, 2013 and the Company believes that the above projects and activities fall within the purview of Schedule VII of the Companies Act, 2013. 7. A responsibility statement of the CSR Committee that the implementation and monitoring of CSR Policy, is in compliance with CSR objectives and Policy of the company: The implementation and monitoring of CSR Policy is in compliance with CSR objectives and Policy of the Company. PAWAN GOENKA VISHAKHA N. DESAI Managing Director and Chief Executive Officer Chairperson – CSR Committee Mumbai, 12 th June, 2020