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Updates about CSR


CA AJAY MAURYA

2015-03-04

 

CSR Activities in Metropolitan Cities of Maharashtra Question 

 

The year 2014-15 is the first year of implementation of Corporate Social Responsibility (CSR) policies by companies under the Companies Act, 2013. Details relating to CSR activities undertaken by the corporate sector are expected to be available only after annual statutory disclosures on CSR are made by companies towards the end of the year 2015. 

 

The Companies (Corporate Social Responsibility Policy) Rules, 2014 have been notified, and these include a format for the report related to CSR to be included in the report of the Companies’ Board. 

 

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Rajya Sabha today. 

 

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CA AJAY MAURYA

2015-03-04

Need of Trained Professionals for CSR Activities 

 

The advocacy programmes for CSR undertaken by the Indian Institute of Corporate Affairs (IICA), a body established under the Ministry of Corporate Affairs, brought out the need for having trained CSR professionals who can help corporates to implement their CSR projects. IICA has accordingly launched a programme – ‘IICA Certificate Programme (ICP) in CSR’ as a capacity building programme for CSR professionals. It is a nine month programme, delivered primarily through an online Learning Management System (LMS). The first batch of the programme was launched on 13th October 2014. 

 

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Rajya Sabha today. 

 

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CA AJAY MAURYA

2015-03-04

Records of Companies Under CSR Category 

 

In terms of Section 135 of the Companies Act 2013, companies above the specified thresholds of turnover or net worth or net profit are required to spend at least two per cent of their average net profits earned during three immediately preceding financial years on Corporate Social Responsibility (CSR) activities. The Board of each such company is required to have the company’s CSR policy formulated and monitor its implementation or specify the reasons for non-implementation. The current financial year is the first year of implementation of CSR by companies under the aforementioned Act. Information regarding companies complying with CSR provision of the Act are expected to be available only after the mandatory disclosures of CSR expenditure are filed by companies towards the end of the year 2015. 

 

As Section 135 leaves the responsibility of implementation of CSR policy on the company itself it will not be possible for the Government to facilitate undertaking of such activities in particular areas. 

 

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Rajya Sabha today. 

 

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