“Tech Mahindra’s social initiatives are carried out by Tech Mahindra Foundation (TMF), its corporate social responsibility (CSR) arm. The Foundation was set up in 2007, as a Section 25 Company (referred to as a Section 8 Company in the Companies Act, 2013). Since then, it has worked tirelessly towards the vision of ‘Empowering through Education’, establishing itself as a prominent CSR player within the Mahindra Group as well as a leading social organization at a national level.”
Tech Mahindra complies with Section 135 of the Companies Act 2013, under which:
- it has constituted a CSR Committee of the Board, which consists of three directors, out of which one is independent. The Foundation’s CSR Committee comprises of Vineet Nayyar (Chairman), Ulhas Yargop (Member) and Rajyalakshmi Rao (Member);
- it has disclosed the above in the board report;
- the CSR Committee has formulated and recommended a CSR Policy and expenditure, and is monitoring the Policy from time to time;
- the Board has approved the CSR Policy, and ensures that the activities included in it are undertaken by Tech Mahindra;
- the Board has ensured that Tech Mahindra spends at least 2% of the average net profits made during the three immediately preceding financial years;
- it gives preference to local areas and areas around it where it operates, for CSR activies; and
- all its CSR activities fall under item (ii) of schedule (vii) – promoting education, including special education and employment; enhancing vocational skills, especially among children, women, elderly, and the differently abled; and livelihood enhancement.
The Foundation commits itself to a vision of a more equitable and inclusive India, and the values of good corporate governance, ethical practices, and dignity of the individual. In order to achive sustainable transformation, it supports and creates opportunities that nurture talent and enable the socially disadvantaged to utilize their potential.