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CORPORATE SOCIAL RESPONSIBILITY - Mandatory Reporting

CORPORATE SOCIAL RESPONSIBILITY - Mandatory Reporting. Geetanjali Gaur Indian Institute of Corporate Affairs. Reporting on CSR Initiatives.

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CORPORATE SOCIAL RESPONSIBILITY - Mandatory Reporting

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  1. CORPORATE SOCIAL RESPONSIBILITY- Mandatory Reporting Geetanjali Gaur Indian Institute of Corporate Affairs

  2. Reporting on CSR Initiatives • A brief outline of the company’s CSR policy including the overview of projects or programs proposed to be undertaken and a reference to the web-link of the CSR Policy and projects or programs; • The composition of CSR Committee; • Average Net Profit of the company for last 3 financial years; • Prescribed CSR Expenditure (2% of the amount as in item 3 above).

  3. Reporting on CSR Initiatives…{CONTD.} 5. Details of CSR spent during the financial year: • total amount to be spent for the FY; • amount unspent, if any; • Manner in which the amount spent during the financial year is detailed as:

  4. REPORTING TEMPLATE * Give details of Implementing Agency 4

  5. Reporting on CSR Initiatives…{CONTD.} 6. In case the company has failed to spend the 2% of Average Net Profit (INR) of last 3 financial years, please provide the reasons for not spending the amount in its Board report; 7. A responsibility statement of the CSR Committee, that the implementation and monitoring of CSR Policy, is in compliance with CSR Objectives and Policy of the company.

  6. Reporting on CSR Initiatives…{CONTD.} • Signed ………………………………………….. • (CEO/Managing Director/Director) …………………………………… • (Chairman CSR Committee) …………………………………… • (Person specified under clause (d) of sub-section (1) of section 380 of the Act) (wherever applicable)

  7. Highlights of Reporting • In reporting disclose reasons for not spending under clause (o) of sub - section (3) of Section 134; • A company may collaborate with other companies for undertaking projects or programs or CSR activities provided that CSR Committees of respective companies are in a position to report separately on such projects or programs in accordance with CSR rules.

  8. PENALIZATION PROVISIONS for COMPANIES 8 Sub Section (8) of Section 134 If a company contravenes the provisions of this section clause (o of sub - section (3) of Section 134) ,the company shall be punishable with fine which shall not be less than fifty thousand rupees but which may extend to twenty-five lakh rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to three years or with fine which shall not be less than fifty thousand rupees but which may extend to five lakh rupees, or with both.

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