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    CSR Compliance for Fy 2021-22

    Posted By : SHALU / Published on : 27-Jan-2022 02:27 PM / View : 1164 / Comment : 0

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    Dear Members,

    The Company has authorised its Directors of the Company to identify and contribute for the CSR activities for the FY 2021-22 through general Resolution in the following manner.

    “RESOLVED THAT considering the provision approval be and is hereby accorded to spend between Rs. 5-10 Lakhs (Example)for the Financial Year 2021-21 towards CSR Activities recognized under schedule VII of the Companies Act 2013 as mentioned below:

    “RESOLVED FURTHER THAT, the CSR Committee/the Company be and is hereby authorized to recognize the suitable projects/activities as stipulated under schedule VII of the Companies Act 2013 and authorized ------------- Directors of the Company to spend the eligible CSR amount towards the recognized projects/activities during the Financial Year 2021-22 and to ensure compliance of Statutory provisions laid down under the Companies Act 2013”.

    Will this suffice the requirement under the law to go ahead with the Company to identify and approve and spend the CSR contribution by the CSR committee member of the Company and ratify in any of the upcoming Board Meeting
    or
    they mandatory shortlist the Activity and obtain fresh approval for those particular activity and then spend on those proposals ?
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