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CSR SPENDING NORMS
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- Social audit of CSR spend may become mustOfficials in the Ministry of Corporate Affairs (MCA) said the social audit will begin with public sector undertakings (PSUs) and then exten...
- Jail term for CSR violation makes firms anxiousMany firms fear that provisions may turn ‘harassment tool’ but others see move as CSR enabler.
- Govt may tighten disclosure norms for CSR spendingA high-level panel on CSR is likely to propose increased disclosures to bring transparency in spending on these activities.
- Little more nudging needed to ensure CSR norms compliance: OfficialWithout divulging any specific plans, he said the ministry would like to remind companies about not being compliant.
- Over 530 companies may face action for CSR norm violationsThey also have to constitute a CSR committee of the respective board of directors and this panel would formulate and recommend to the board...
- CSR: 4,195 companies spend nothing; show cause notices to 496 firmsThe reasons for not spending included cos not finding suitable implementing agency, delay in formation of CSR committee and inability to fo...
- Corp Affairs Min to hold sensitisation workshops on CSR normsThe move comes against the backdrop of instances of discrepancies in data and lapses being noticed by the Ministry with regard to complianc...
- Top 75 companies spent Rs 4,000 crore on CSR in 2015The government expects total spending in the first year to top Rs 9,000 crore and rise substantially in coming years, a government official...
- ICAI issues norms for CSR accounting by companiesCompanies meeting certain financial criteria such as a net worth, turnover or net profit of at least Rs 500 crore, Rs 1,000 crore and Rs 5 ...
- Law provides well drafted structure for CSR: Nirmala SitharamanIn a first of its kind, certain class of companies are required to shell out at least 2 % of their three-year annual average net profit tow...
- Tata Groups' chief ethics officer Mukund Rajan-led task force proposes CSR math for corporatesThe 'Rajan formula', according to industry representatives, could break an impasse that has arisen over how to value pro bono work done by ...
- CSR spend may grow over 4 times to $2.5 billion: StudyThese funds were spent by the companies on various social initiatives of the government and NGOs.
- Multinational corporations seek clarity on CSR legal normsInconsistency between Companies Act and the CSR rules has made multinationals mull whether they are legally bound to follow norms on mandat...
- Companies have to comply with CSR norms: GovernmentNirmala Sitharaman said the Companies Act, 2013 came into operation this year only and the government was watching the spendings under CSR.
- Government to modify social welfare spending norms of PSUsAccording to an official, DPE would be harmonising CSR norms for public sector enterprises with that of provisions in the new Companies Act.
- CSR certificate programme on the anvilWith companies gearing up to spend on social welfare initiatives, the Indian Institute of Corporate Affairs plans to offer certificate prog...
- CSR activities should bring smile to people; not profit for cos: Sachin PilotCorporate Affairs Minister Sachin Pilot asked the companies to desist from spending on profit-earning activities to meet norms.
- Only 1 per cent of active companies need to follow CSR spending normsIndia might be among the first in the world to make social welfare spending by companies part of the law, but i would apply to only 1% of c...
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