The CSR committee of MathCo is called Co.exist and was formed in March 2019.
Our Vision
- To stand up for the rights of others, humans or otherwise, and aim towards sustainable living.
- To work towards any other relevant social cause to ultimately aid in bringing about positive societal and environmental change(s).
Our Focus Areas
The areas in which projects would be chosen are one or several of the following:
- Relief and rehabilitation
- Promoting education
- Promoting gender equality, empowering women
- Setting up old age homes
- Promoting healthcare, including preventive healthcare
- Vocational skills
- Eradicating hunger, poverty, and malnutrition
- Ecological balance
- Conservation of natural resources
- Environmental sustainability
- Contribution to Prime Minister’s National Relief Fund
- Protection of national heritages
- Rural development projects
- Slum area development
- Disaster management, including relief, rehabilitation, and reconstruction activities
- And as such, any other as prescribed under the Companies Act 2013 from time to time
MathCo will make a contribution to approved organizations or directly undertake the Corporate Social Responsibility activities which are approved under the Companies Act 2013 as detailed in Schedule VII of the Act.
Our Team
The Cofounders of MathCo have appointed the following members of Co.exist as the Co.exist Board, referred to as Board from here on:
- Sayandeb Banerjee, Cofounder and Chief Executive Officer, MathCo
- Aditya Kumbakonam, Cofounder and Chief Operating Officer, MathCo
- Anuj Krishna, Cofounder and President – Technology and Growth
The other members of Co.exist are:
- Ashish Sam
- Sangeetha Kannan
- Manasa Srivathsa Rao
- Preeti Soreng
- Arunkumar HM
- Eva Sharma
Co.exist will make periodic recommendations to the Board on the amount to be spent and on the projects to be undertaken which are in consonance with the activities detailed in Schedule VII of the Companies Act, 2013.
Co.exist will determine the Trust/NGO/Person/Association in charge of the activities that could be undertaken for contribution to be made in the Focus Areas. These associations/persons responsible for the delivery of the welfare activities through MathCo’s funding will update Co.exist on the requirements and the status of the development in each activity undertaken. If Co.exist recommends that the expenditure is to be routed through a Trust exclusively set up by MathCo for carrying out the welfare activities mentioned in our focus areas, the Trust will report the status and update on the CSR activities to Co.exist. Co.exist will continue to monitor the CSR activities and ensure that they do not deviate from the focus area agreed upon. Co.exist will also provide a report to the Board on the status of the approved projects. This report will be periodically shared with all the stakeholders of MathCo.
If MathCo chooses to contribute to the PM Relief Fund, corresponding receipts should be preserved for verification by auditors, members and the Board. Such receipts will have to remain in the custody of Co.exist and it will be the responsibility of Co.exist to take necessary steps for maintenance of the CSR records.
CSR Expenditure
The amount to be spent will be as specified by Co.exist and approved by the Board. The amount spent will not be less than 2% of the Average Net Prots of the preceding 3 financial years as required under Section 135 of the Companies Act 2013 and The Companies (Corporate Social Responsibility) Rules, 2014 thereunder.
CSR Awareness and Reporting
The Board will publish the CSR activities and amounts spent via a report prepared by Co.exist as a part of the Cofounders’ report in the company’s annual report. Further, the CSR policy shall be displayed on the company’s website.
Corporate Information – Form MGT – 7
To download the form, click here.