Deepak Amitabh is a business leader with a career spanning over 32 years of invaluable experience. An alumnus of St. Stephen’s college Delhi, he started his professional career in 1984 with the Government of India as an officer of Indian Revenue Service (IRS).He has held various important and challenging positions in IRS including as Financial Advisor to Director General Naval Projects, Mumbai, Additional Commissioner of Income Tax, New Delhi and Joint Commissioner of Income Tax Mumbai. His journey in PTC began in 2003, when he came on board as a part of leadership team (CFO) and later took on the mantle of the CMD of the Company in October, 2012. As head of Finance in the Company, he led the IPO of PTC in 2004 (1st IPO in Power sector) and later raised funds of more than Rs.1700 crores through Qualified Institutional Placement (QIPs) in 2008 & 2009. He played a key role in formation of subsidiaries of PTC viz. PTC India Financial Services Ltd. (PFS) & PTC Energy Limited (PEL).
Under his Chairmanship, PFS is a listed entity with an asset size of more than Rs. 13,000 Crores and PEL has executed 289 MW of wind power project. He was instrumental in setting up of India’s first power exchange in 2007.A widely recognized business leader, Amitabh is a member of various industry associations like CERC – Advisory Committee, TERI – executive committee, CII – National Committee on Power, TERI – executive committee, FICCI – Power Committee, World Energy Council, Association of Power Producers, Co- Chairs Afghanistan – India Chambers of Commerce & Industry (AICCI) and Chairs Indo-Pakistan Joint Task Force on Energy (an initiative of Ministry of Commerce, GoI and GoP). A thoroughbred professional Deepak Amitabh, carries hue of public & private sector, has carefully led PTC Group of Companies as a people centric leading enterprise in the financial / power sector.
Q. How do you respond to the mandatory provision for CSR under the company’s act forcing companies to invest 2% of their profit for social developmental activities?
A. This is a very positive initiative by the government so that the companies can give back to the society in their influence area. It was expected that 2% spending on CSR would be forth coming without any regulatory pressure but since this has not happened the government is thinking of making it mandatory in all the permissible area of Schedule VII of Section 135 of the Companies Act, 2013
Q. How does the PTC approach CSR, either as adhoc charity or part of integrated corporate strategy?
A. CSR can never be an adhoc charity for any company. It has to be genuinely for the benefit of the society and should be a part of integrated corporate strategy. For PTC, it is a stated principle of CSR as an investment into enriching the surrounding ecosystem.
Q. What is the area of CSR intervention at PTC and which is the flagship CSR program of PTC?
A. PTC has been taking several CSR interventions mainly focused towards women empowerment, girl child education, sanitation and hygiene as well as rural development activities. The focus has been on skill development linked to employment, renewable energy as an output multiplier, and agriculture development.
Q. How has the CSR & Sustainability program evolved at your company?
A. CSR & Sustainability program in PTC graduated from taking standalone project directly by the company to implementing through PTC Foundation. PTC Foundation, is a not for profit Trust registered under the Indian Trust Act , formed on behalf of group company(ies), is planning its social intervention through mix of tenor (short & long) strategy to increase our influence zone. Our program intervention into women empowerment through education, participative employment, child education and adopting improvised livelihood methodology has been bringing transformation to the society.
Q. What is the level of your personal involvement in CSR planning and execution?
A. My personal involvement has two parameters e.g. qualitative and quantitative. Qualitatively, I remain personally involved through regular interactions with the CSR team and keep myself update with the regular activities going on. Moreover, detailed review is undertaken during the Board of Trustees Meeting which I Chair. Quantitatively, As a Trustee and also Chairman of the Trust, I encourage my people to keep sharing ideas on “journey of transformation” and make an effort to provide gap up resources (monetary, project adoption and otherwise) for the same.
Q. Which areas would you focus on for implementing CSR in the next five years?
A. During the next five years we would like to focus on capex expenditure in sector of renewable energy, safe drinking water, environment protection and skill development. The ultimate aim would however, be to undertake long term strategic project in line with our corporate strategy.
Q. Can you share a recent accomplishment you are especially proud of in your CSR & Sustainability role?
A. The various initiatives undertaken are all targeted towards the underprivileged section of the society and I am proud of the initiatives taken up so far. Special mention needs to be made of the solarisation of two kitchens of Akshaya Patra Foundation leading to nearly 1.5 lakhs more mid-day meals for the needy children
Q. If you had the opportunity to make one major change in your industry, what would it be?
A. One major change in the industry with a view to CSR should be that the companies should be eager to spend even more than 2% on CSR wherever it is possible.
Q. Anything you would like to share with the readers of CSR VISION?
A. CSR vision is a good initiative for the readers to be update about the latest happening in this sector and also about the latest developments which are happening at different places