For Quick Alerts
For Daily Alerts

Govt working on CSR reporting mechanism: Sachin Pilot

By Religare
Govt working on CSR reporting mechanism: Sachin Pilot
The Minister of Corporate Affairs Sachin Pilot said the government is in process of developing an appropriate mechanism for public sector companies to report about their Corporate Social Responsibility (CSR) activities.

The government has taken this step keeping in mind the provision of CSR under Clause 135 of the new Companies Bill, 2012, which states that every company having net worth of Rs. 500 crore or more, or turnover of Rs. 1000 crore or more or net profit of rupees five crore or more during any financial year, shall constitute a CSR Committee to recommend its activities for discharging CSR in such a manner that the company would spend at least 2 per cent of its average net profits of the previous three years on CSR activities.

There is no provision for Corporate Social Responsibility (CSR) spending by companies in the present company law i.e. Companies Act, 1956.

The companies will have latitude in designing project based CSR interventions. Reporting requirements etc. will be discussed with all stakeholders and defined once the Bill is enacted, the Minister said.

Dion Global Solutions Ltd.

Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more