Page 277 - Demo

Notes to financial statements
for the year ended March 31, 2020
FINANCIAL STATEMENTS
(` in 000's)
Name of Directors
year ended 31/03/2020
Year ended 31/03/2019
Ms. Chitra K Alai (SIDBI)*** - Mr. Sachin Bansal***** - Mr. Mahadev lakshminarayanan****** - Total 6,570
* Mr. Sunil Vinayak patel has resigned as Director w.e.f February 1, 2020.
** Mr. Anadi Charan Sahu has resigned as Director on May 06, 2018 and Mr. Sanjay Jain was appointed in his place w.e.f May 07, 2018. **** Mr. Jayanta Kumar Basu was appointed w.e.f november 14, 2018.
*** Mr. Sanjay Jain ceased to be a Director w.e.f May 09, 2019 and Ms. Chitra K Alai was appointed in his place w.e.f May 09, 2019. ***** Mr. Sachin Bansal was appointed w.e.f June 01, 2019 and resigned as Director w.e.f. January 27, 2020.
****** Mr. Mahadev lakshminarayan was appointed w.e.f August 01, 2019.
30 the Micro, Small and Medium enterprises Development Act, 2006 that came into force from october 2, 2006, provides for certain disclosures in respect of Micro, Small and Medium enterprises. An amount of `1,145 (000's) was outstanding for payment for more than 45 days to MSMe creditors as of March 31, 2020 and nil as of March 31, 2019.
31 CORPORATe sOCIAL ResPONsIbILITy
As per Sec 135 (1) of the Companies Act “every company having net worth of rupees five hundred Crores or more, or turnover of rupees one thousand Crores or more or a net profit of rupees five Crores or more during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors, out of which at least one director shall be an independent director”. pursuant to this, Bank has duly constituted a Corporate Social Responsibility Committee.
Further, the section stipulates that the company should spend, in every financial year, at least two per cent of the average net profits made during the three immediately preceding financial years and in pursuance of its Corporate Social Responsibility policy. Bank has a mandatory CSR obligation from FY 2019-20. Bank's CSR Strategy was approved by the CSR Committee & by the Board of Directors in the meeting held on May 27, 2019 & May 28, 2019.
Gross amount required to be spent by the Bank during the financial year ended March 31, 2020 is `18,544 (000's) (pY -nil)
200
525
775
11,640
Particulars
Amount Spent
year ended 31/03/2020
Amount unpaid/ provision
Total
12,467
-
-
-
-
12,467
(i) Construction/acquisition of any asset
(ii) on purpose other than (i) above
(i) Construction/acquisition of any asset
(ii) on purpose other than (i) above
(`in 000's)
(` in 000's)
- - -
- - -
Particulars
Year ended 31/03/2019
Amount Spent
Amount unpaid/ provision
Total
275