CSR

Notifications issued by the MCA on Corporate Social Responsibility- Grey areas galore

The Ministry of Corporate Affairs (MCA) with a view to roll out the requirements of Corporate Social Responsibility (CSR) from the beginning of the new financial year 2014-15 as proposed by the Hon™ble Minister of Corporate Affairs have come out with three notifications on February 27,2014 which are as under: 1)      Vide the first notification… Read More

Tags: corporate social responsibilityCSR

Notification relating to effective date of provisions of section 135 and Schedule VII of Companies Act, 2013

1st April, 2014 has been appointed as the effective date of the provisions of Section 135 related to Corporate Social Responsibility Read More

Tags: corporate social responsibilityCSR

Spending Under Corporate Social Responsibility

Section 135 of the Companies Act, 2013 dealing with Corporate Social Responsibility (CSR) requires companies under its purview to spend at least two percent of its average net profit made in the three immediately preceding financial years to be spent on its CSR policy. Giving this information in written reply to a question in the… Read More

Tags: BusinessCompanies ActCompanies Act 2013corporate social responsibilityCSRLok SabhaSachin PilotSocially Responsible

CSR Index to be developed – First of its kind in India

Indian Institution of Corporate Affairs (IICA) and BSE Ltd. today signed an MoU in Mumbai to work collaboratively to develop a Corporate Social Responsibility (CSR) index, take up capacity building on CSR, conduct education and awareness programmes, and other activities to facilitate a more effective corporate participation in CSR areas. Shri Sachin Pilot, Minister of… Read More

Tags: BSECompanies ActCorporate Affairs Ministrycorporate social responsibilityCSRIICAIndiaMumbai

Guidelines on CSR and Sustainability for the Central Public Sector Enterprises

The Government has said that the Corporate Social Responsibility (CSR) & Sustainability Guidelines for the Central Public Sector Enterprises (CPSEs) may have to be modified to align with the provisions of the Companies Bill, recently passed by the Parliament, once enacted and notified. Giving this information in written reply to a question in the Rajya… Read More

Tags: corporate social responsibilityCSRGovernmentMemorandum of understandingPraful PatelPublic sectorRajya SabhaSustainability

Spending on Corporate Social Responsibility by Companies

There is no provision for Corporate Social Responsibility (CSR) spending by companies in the present company law i.e. Companies Act, 1956. However, the new Companies Bill, 2012 has a provision of CSR under Clause 135 which states that every company having net worth of Rs. 500 crore or more, or turnover of Rs. 1000 crore… Read More

Tags: Billcorporate social responsibilityCSRLok SabhaMinistry of Corporate AffairsNet profitSachin PilotThe Companies Act 1956

Defence Funds under Corporate Social Responsibility

The amount spent by the Defence Public Sector Undertakings (DPSUs) under Corporate Social Responsibility (CSR) activities during the last three years, i.e. during 2010-11, 2011-12 and 2012-13, is given in Annexure Name of the DPSU Amount spent on CSR activities (Rs. in lakhs)   2010-11 2011-12 2012-13 (provisional) Hindustan Aeronautics Ltd 179.19 580.65 888.12 Bharat Electronics… Read More

Tags: BusinessConferencescorporate social responsibilityCSRGoaIndiaInvestingSocially Responsible

Corporate Social Responsibility by Steel manufacturing undertakings

The Minister of Steel, Shri Beni Prasad Verma has said that under the Corporate Social Responsibility (CSR) scheme, the public sector steel manufacturing undertakings, namely, Steel Authority of India Limited (SAIL) and Rashtriya Ispat Nigam Limited (RINL) are allocating funds for the CSR activities, as per the guidelines prescribed by the Department of Public Enterprises… Read More

Tags: Andhra Pradeshcorporate social responsibilityCSRDepartment of Public EnterprisesMinister of SteelMinistry of SteelRashtriya Ispat NigamWest Bengal

MCA Voluntary Guidelines to promote good Corporate Governance

Voluntary Guidelines for Companies for providing general information on their websites about the company to promote good corporate governance and to enhance investors™ awareness ***** 1. The Ministry of Corporate Affairs (MCA) has been continuously taking various steps towards promoting good corporate governance, investor education and protection & advocacy for adoption of Corporate Social Responsibility… Read More

Tags: Audit CommitteeBoard of directorsCorporate Affairs MinistryCorporate Governancecorporate social responsibilityCSRKolkataShareholder

Corporate Social Responsibility and the Existing Companies Law

There is no provision for Corporate Social Responsibility (CSR) spending by companies in the existing Companies law i.e. Companies Act, 1956. However, the Companies Bill, 2012 incorporates a provision of CSR under Clause 135. Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said… Read More

Tags: Businesscorporate social responsibilityCSRNet profitRajya SabhaRupeeSachin PilotShri Sachin Pilot

Workshop on Draft Draft National Voluntary Guidelines on Social Responsibilities

Multi-Stakeholder Consultations Draft National Voluntary Guidelines on Social,  Environmental and Economic Responsibilities of Business (NVGs) & Global Reporting Initiative (GRI) Sustainability Reporting Guidelines A Half-Day multi Stakeholder consultation is being organized by the Indian Institute of Corporate Affairs (IICA) and  Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ)under a bilateral cooperation,  the IICA-GIZ CSR Initiative,Global Reporting Initiative… Read More

Tags: CSRNational Voluntary Guidelines on Social Responsibility

Draft National Voluntary Guidelines on Social, Environmental and Economic Responsibilities

The Draft National Voluntary Guidelines on Social, Environmental and Economic Responsibilities issued by the  Indian Institute of Corporate Affairs (IICA) are a refinement over the Corporate Social Responsibility Voluntary Guidelines 2009, released by the Ministry of Corporate Affairs in December 2009. The Guidelines are designed to be used by all businesses irrespective of size, sector or location laying down the… Read More

Tags: CSRICSINational Voluntary Guidelines on Social Responsibility

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