Vision
Scholastic India Private Limited (“Company”) believes that education is a powerful driver of social transformation and inclusive growth. The Company’s vision under its Corporate Social Responsibility (“CSR”) initiatives is to contribute meaningfully to society by promoting education, literacy, and holistic child development. Through focused and responsible CSR efforts, the Company seeks to create sustainable and measurable social impact, particularly for children and underserved communities.
Introduction
This Corporate Social Responsibility Policy (“CSR Policy”) sets out the guiding principles and framework for the Company’s CSR initiatives in accordance with Section 135 of the Companies Act, 2013 (“Act”) read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 (“Rules”), Schedule VII to the Act, and other applicable laws, circulars, and notifications, as amended from time to time.
The Company recognises its responsibility towards the communities in which it operates and endeavours to integrate social, ethical, and environmental considerations into its business operations. This CSR Policy outlines the approach for identification, implementation, monitoring, and reporting of CSR activities undertaken by the Company.
As the Company’s annual CSR expenditure is below the prescribed limits set forth under Section 135(9) of the Act, the Company is not required to constitute a CSR Committee. Accordingly, all functions ordinarily performed by the CSR Committee shall be discharged by the Board of Directors of the Company (“Board”).
Objectives of the CSR Policy
The key objectives of this CSR Policy are to:
- Promote Education and Literacy: Support and implement initiatives aimed at improving access to quality education, reading literacy, and learning opportunities for children, especially those from underserved and marginalised communities.
- Enhance Learning Outcomes: Facilitate programmes and interventions that contribute to holistic child development, including reading programmes, library development, distribution of books and learning material, teacher training, and academic support activities.
- Support Educational Events and Engagements: Organise or support educational events, book fairs, workshops, reading campaigns, school outreach programmes, and similar activities that encourage learning and foster a culture of reading among children.
- Promote Child Development and Well-being: Undertake initiatives that contribute to the overall welfare of children, including extracurricular learning, life-skills development, and activities that promote cognitive and creative growth in alignment with Schedule VII of the Act.
- Collaborate with Implementing Partners: Partner with NGOs, educational institutions, government bodies, and other organisations engaged in educational and child-welfare activities, to enhance the reach and impact of CSR programmes.
- Ensure Structured and Transparent CSR Governance: Establish a robust framework for planning, approval, implementation, monitoring, and reporting of CSR initiatives in compliance with applicable laws and internal governance standards.
- Create Sustainable Impact: Design and support CSR initiatives that deliver measurable and lasting benefits to society, with emphasis on scalability, replicability, and alignment with national development priorities.
Governance Structure – Role of the Board
In accordance with Section 135(9) of the Act, the Board shall be responsible for:
- Formulating, approving, and amending this CSR Policy;
- Identifying and approving CSR projects and programmes in line with Schedule VII of the Act;
- Approving the annual CSR budget and ensuring utilisation of funds for approved activities;
- Monitoring the implementation and progress of CSR activities;
- Ensuring appropriate disclosures in the report of the Board of Directors prepared in accordance with Section 134(3) of the Act;
- Ensuring compliance with all applicable CSR-related legal and regulatory requirements.
The powers and functions of the Board within this Policy can be specified, varied, altered, or modified from time to time, subject to the provisions of the applicable law.
For the purposes of this Policy, the Board shall choose one amongst them to act as Chairman.
Meetings of the Board for the purpose of CSR shall be held at such times as the Board deems appropriate and, in any event, shall be held at-least once in every financial year. The quorum for the Board shall be the presence of at-least two members.
CSR Activities
The Company may undertake CSR activities falling within the scope of Schedule VII of the Act, with primary emphasis on education, literacy, and child development–oriented initiatives.
Implementation of CSR Activities
CSR activities may be implemented:
- Directly by the Company; or
- Through a company established under Section 8 of the Act, or a registered trust or society, or any other entity permitted under applicable law, having a proven track record in undertaking similar activities.
The Company may also collaborate with other companies for undertaking CSR projects, provided that the Company is able to separately report on its CSR contributions.
Location of the CSR Activities
In terms of the provisions of the Act, the Company shall give preference to the local areas where it operates and areas around it for spending the amount earmarked for CSR projects or programs.
CSR Expenditure
The Company shall endeavour to spend, in each financial year, at-least 2% of the average net profits of the Company made during the three immediately preceding financial years, as prescribed under the Act, subject to applicability.
CSR expenditure shall be incurred only on approved CSR activities in accordance with this Policy and Schedule VII of the Act.
Any surplus arising out of CSR activities shall be utilized only for CSR purposes and shall not form part of the business profits of the Company.
CSR Monitoring and Reporting
The Board shall monitor the implementation of CSR activities through periodic reviews to ensure that funds are utilized effectively and intended objectives are achieved. Appropriate records and documentation shall be maintained for all CSR activities undertaken by the Company.
Amendment
In accordance with Section 135 of the Act, Schedule VII, and other applicable rules, notifications, and amendments, this Policy has been approved by the Board of Directors and shall be reviewed and updated from time to time based on assessment of the Company’s needs, financial soundness, legal and regulatory developments.
Further, subject to applicable law, in the event the Company does not meet the criteria under Section 135(1) of the Act for three consecutive financial years, the requirements relating to this Policy shall cease to apply until such criteria are met again.