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CORPORATE SOCIAL RESPONSIBILITY POLICY

This Corporate Social Responsibility (hereinafter referred to as ‘CSR’) Policy is framed in terms of the Companies Act, 2013 (hereinafter referred to as ‘the Act’) read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 (hereinafter referred to as ‘the CSR Rules’), as amended from time to time.

Philosophy

Fortune Park Hotels Limited (‘the Company’), being a wholly owned subsidiary of ITC Hotels Limited (‘ITCHL’) will discharge its responsibilities by aligning itself with the CSR Policy of ITCHL and by undertaking CSR activities in areas or subjects which are independent of the normal conduct of the Company’s business and are covered under the activities listed in Schedule VII read with Section 135 of the Act and the CSR Rules.

Programmes, projects and activities (hereinafter collectively referred to as 'CSR Programmes') carried out in this regard are the subject matter of this Policy.

Implementation

The Company’s CSR Programmes will be implemented: (i) directly, or (ii) through a registered public trust or a registered society or foundation or a company under Section 8 of the Act, that may be established by the Company or otherwise as prescribed under the Act and the CSR Rules, or (iii) through other eligible implementing agencies.

The Company may also collaborate with ITCHL or other companies for undertaking CSR programmes in such a manner that the respective companies are in a position to report separately on the CSR activities being undertaken.

The programmes to be undertaken by ITCHL Entities or other eligible implementing agencies will be specified, and it will be ensured that such programmes are covered in the Objects laid down in the respective Trust Deeds / Memorandum and Articles of Association of the ITCHL entities and other eligible implementing agencies.

Governance

  • Every financial year, the Manager / Managing Director and Head Finance (Responsible Official) of the Company will place for the approval of the Board of Directors of the Company (hereinafter referred to as ‘the Board’), an Annual CSR Action Plan (hereinafter referred to as ‘Annual CSR Plan’) delineating the CSR Programmes to be carried out during the financial year, including its potential impact, the benefits and the budgets thereof, their manner of execution, implementation schedules, modalities of utilisation of funds, monitoring & reporting mechanism and other matters which are required under applicable law.
  • The Board will assign the task of administering the implementation of the Annual CSR Plan within specified budgets and timeframes to such persons or bodies as it may deem fit.
  • The Responsible Officials will keep the Board apprised on the status of implementation of the CSR Programmes at appropriate intervals.
  • The Board will review the report back and issue directions as may be necessary to ensure orderly and efficient execution of the CSR Programmes. In case of ongoing CSR Programmes (three years or more), progress will be reviewed with reference to approved timelines and year-wise allocation.
  • The reportback will include confirmation from the Head-Finance to the Board that the funds disbursed for the CSR Programmes are being utilized for the stated purpose and in the specified manner.
  • At the end of every financial year, the Responsible Officials will submit to the Board an Annual Report on CSR activities, which will be disclosed as part of the Report of the Board of Directors of the Company.

CSR Expenditure

  • The Company will endeavour to spend in every financial year, at least two percent of its average net profits during the three immediately preceding financial years (or such other limit as prescribed under the Act), on CSR programmes in pursuance of this Policy.
  • CSR expenditure will include all expenditure, direct and indirect, incurred by the Company on CSR activities/programmes undertaken in accordance with the approved Annual CSR Plan within the prescribed limits.
  • Surplus arising from CSR Programmes shall not form part of the business profit of the Company and shall be ploughed back into CSR activities within six months from the end of the relevant financial year. Any income arising from CSR Programmes will be netted off from the CSR expenditure and reported accordingly.
  • If CSR expenditure exceeds the statutory limit, such excess may be set-off against CSR expenditure for the next three financial years with the approval of the Board.

This Policy will be posted on the Company’s website:
www.fortunehotels.in

In the event of any inconsistency between this Policy and applicable laws, the applicable laws will prevail.

This Policy will be reviewed by the Board, on recommendation of the Responsible Officials, as and when deemed necessary.

Approved by the Board on 8th October, 2025

Last amended on 23rd March, 2023