October 23, 2020

MNC seeks govt sops in lieu of CSR

Patna: Chairman of SIS Group of Companies Ravindra Kishore Sinha on Thursday said the state’s industry has huge potential to give sustainable employment to the unemployed and it will play a key role in skilling and development of human resource in Bihar.

Sinha, the founder of Security and Intelligence Services India, said one of the major hurdles in the industrial development of Bihar was the lack of skilled manpower.

“Industries could bring managers with them but what about the employees and labourers who should be employed from the local level. Therefore the skill development initiatives by industries and corporations will play a bigger role in eradication of unemployment in Bihar.

The chairman of Bihar’s only multinational company (MNC), stressing the social responsibilities of MNCs under corporate social responsibility (CSR), told the reporters after the annual general meeting of the company: “Our company deeply engaged in many social initiatives such as skill development and promotion of cleanliness and hygiene in the society.”

He also suggested that a lot of companies deviate from their social responsibilities due to obvious reasons as it is mandatory to incur 2 per cent of their profits on social development, while the government did not provide them tax exemption in lieu of this. In order to enhance corporate interests, the government should consider giving some taxation relief to companies fulfilling responsibilities under CSR.

Explaining the journey, Sinha, who is a Rajya Sabha MP and a native of Patna, revealed that all was started when he picked a job of a trainee reporter in a publication during his graduation in Patna. He was sent cover the India-Pakistan war of 1971, when he had to stay with the Bihar regiment at the border post. It was the time when Sinha came into contact with soldiers.

Meanwhile, in 1974, when he was jobless, a friend of him asked to arrange a security guard for his project site’s security, Sinha arranged using his contacts and then his friend suggested he start a company which would undertake such work. Thus, in February 1974, Sinha started SIS Security in Patna and convinced many army veterans to join his venture.

Ritu Raj Sinha, his son and managing director, said the conglomerate provides cash logistics services, electronic security systems, housekeeping and support services apart from its trademark security services all over India and in Australia.

Elucidating the MNC’s achievements, Rituraj said a subsidiary of SIS Security was given the responsibility for security in the 2018 Commonwealth Games held in Gold coast in Australia. He said over 2,000 men and women guards of the company ensured 100 per cent incident-free event with no safety hazard and earned international reputation.

Explaining the company’s achievements, Ritu Raj said the SIS Group was the only company with its registered head office in Patna, Bihar’s capital, and it was operating in Australia with an annual turnover of over Rs 6,000 crore and a manpower strength of 1,70,000. However 20 per cent employees of the company belong to Bihar.

Courtesy: The Telegraph

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