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Institutional Governance: Financial & Conflict of Interest Policy
Legal Identity: Section 8 Non-Profit (CIN: U88900HR2026NPL141904) Status: 12A & 80G Certified | NGO Darpan: HR/2026/0995847
I. THE PRAN FINANCIAL PROTOCOL
1. Dual-Gateway Authorization
Threshold: Every institutional payment exceeding ₹10,000 must be digitally authorized by both Amarjeet Singh (Executive Director) and Dr. Seema (Director).
Evidence-Based Spending: Every rupee spent must correlate to a specific programmatic areas.
2. Procurement & Vendor Integrity
The "Three-Quote" Rule: For any service contract or asset purchase exceeding ₹50,000 (legal research, website hosting, office equipment), PRAN must document three competitive bids to ensure the preservation of charitable funds.
Statutory Compliance: All vendors must be GST-compliant where applicable, and TDS (Tax Deducted at Source) must be deducted as per the TAN of the Foundation.
3. Financial Transparency
Public Access: As a commitment to our NGO Darpan status, PRAN shall maintain an annual "Financial Summary" on its website for public review.
Audit Cycle: The annual audit must be completed by a qualified Chartered Accountant within 120 days of the close of the financial year.
II. CONFLICT OF INTEREST & "ARMS-LENGTH" CODE
1. Definition of Conflict at PRAN A conflict exists if a Director or a member of the PRAN Task Force has a financial interest in a vendor, or a personal relationship that could compromise the Foundation’s "Research First" integrity.
2. The "Arm's Length" Mandate
PRAN Foundation is strictly prohibited from paying above-market rates for any service.
If a Director provides a professional service, it must be documented as an "Honorary Contribution" or at a rate significantly below their standard market fee to prioritize the Foundation's mission.
3. Disclosure & Recusal
Any Director with a potential conflict regarding a Board decision must disclose and recuse themselves from the vote. This must be recorded in the Minutes of the Meeting.
III. THE "NO-PRIVATE-BENEFIT" GUARANTEE
As a Section 8 entity, PRAN Foundation declares that:
No part of the income or property shall be paid as dividends or profit.
All surplus funds are 100% reinvested into Policy Research and Public Safety Action.
Institutional Implementation
Certification: We, the Board of Directors, hereby adopt this policy as the fundamental governing document of PRAN Foundation to ensure that every donor's contribution is treated as a sacred trust.
Amarjeet Singh, Advocate Executive Director
Dr. Seema Scientific Lead & Director
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