Channelize Corporate Social Responsibility (CSR) obligation for green foot prints The companies bill 2011 became law. The bill has been approved by Lok sabha and Rajya sabha. The bill is about mandate large sized corporation to spend 2% of their net profits on Corporate social Responsibility activities. As per the companies Bill 2011, companies with a profit of INR 5 Billion or more, a turnover of INR 10 billion or more , or a net profit of INR 50 m or more, in a fiscal year , year, shall constitute a CSR Committee of the Board consisting of three or more Directors, including at least one Independent Director, to recommend activities for discharging corporate social responsibilities 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 specified CSR activities. Giving this information in written reply to a question in the Rajya Sabha 22 April 2013, Shri Sachin Pilot, Minister of Corporate Affairs, s...
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