Arohan Financial Services Limited | Annual Report 2022-23

77 | Annual Report | 2022-2023 satisfactory and the Board as whole played great role in the development of the Company. RISK MANAGEMENT POLICY The Board of the Company has adopted the Risk Management Policy based on the recommendation of the Risk Management Committee in order to assess, monitor and manage risk throughout the Company. Risk is an integral part of the Company’s business, and sound risk management is critical to the success of the organization. Detailed information on risk management is provided separately in this Annual Report. CORPORATE SOCIAL RESPONSIBILITY (CSR) In compliance with Section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules 2014, the Company has established the Corporate Social Responsibility Committee (CSRCommittee) and the composition and the function thereof is mentioned in the Corporate Governance Report. The Board adopted the CSR Policy, formulated and recommended by the CSR Committee, and the same is available on the Company’s website. During the year, as per the budget the Company spent on various programs and activities such as Health Care and Women Empowerment, Disaster Relief, Installation of Vending Machine, Training and Awareness, Skill Development, Livelihood Trainings, etc. The details of the CSR activities undertaken during the year are given in the report on Corporate Social Responsibility activities which is annexed as Annexure III to the Directors’ Report. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY OPERATIONS IN FUTURE There are no significant material orders passed by the Regulators, Courts or Tribunals which would impact the going concern status of the Company and its future operations. DEPOSITS The Company is a non-deposit taking NBFC-MFI and has not accepted any deposit as defined by the Companies Act, 2013. INFORMATION REQUIRED UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013 Internal Complaints Committee has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy. The Company has also complied with the provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. During the calendar year 12 (Twelve) cases were reported and all were effectively closed. INTERNAL FINANCIAL CONTROLS The Company has in place adequate and effective internal financial controls with reference to financial statements. During the year, such controls were tested and no reportable material weaknesses in the design or operation were observed. VIGIL MECHANISM The Company has a Whistle-blower Policy which is periodically reviewed, and details of the same are explained in the Corporate Governance Report. The Policy is also available on the Company’s website. PARTICIPATION IN CREDIT BUREAU In order to address the issue of multiple lending or over indebtedness and also to know the credit history of the customer, the Company became the member in all the credit bureaus namely Experian Credit