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    CSR Policy

    Posted By : Vidushi / Published on : 15-Sep-2022 09:57 AM / View : 434 / Comment : 1

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    Dear Friends!

    Who is the competent authority to approve CSR Policy?

    Thanks and Regards

    Vidushi Rohatgi
    Read more on : policy

    • As per the Companies Act, 2013, the Board of Directors of a company is responsible for approving and implementing the Corporate Social Responsibility (CSR) Policy. The Board of Directors may constitute a CSR Committee, consisting of at least three directors, to formulate and recommend the CSR policy to the Board for approval.

      The CSR policy should include the following:

      • A list of CSR projects or programs to be undertaken by the company;
      • The manner of execution of such projects or programs;
      • The modalities of utilization of funds and implementation schedules for the projects or programs;
      • Monitoring and reporting mechanism for the CSR activities undertaken by the company.

      Once the Board approves the CSR policy, the company must ensure that it is implemented in letter and spirit. The company must also disclose the details of its CSR activities and expenditure in its annual report and on its website.

      It is important to note that non-compliance with the CSR provisions of the Companies Act, 2013 may result in penalties and other legal consequences. Therefore, companies must ensure timely and accurate compliance with the CSR requirements.

      13-04-2023 / 12:15:24 PM
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