Kuldeep Singh Rathore (Company Secreatary) (11 Points)
31 May 2016
Jatin Bajaj
(CS)
(2928 Points)
Replied 31 May 2016
Yes, you are eligible because as per Commencement 0f the act,i.e. 1st April 2014 it is mandatory for every Company to follow a homogeneous financial year from 1st April to 31st March of following year.
However a transition period of 2 years have been prescribed for Company existing on the commencement of the act to align their Financial year from April to March.
But the provisions of CSR is made effective from date of commencement of Act.
Kuldeep Singh Rathore
(Company Secreatary)
(11 Points)
Replied 01 June 2016
Regarding the Financial Year we have already Filed Petition with CLB.
But in case of CSR FAQ's State that CSR will be applicable for the Companies Whose Financial Year Commence on or after 1st April, 2014.
So due to above explanation I think the applicability for CSR for the Companies having Calender Financial year occurs from 1st January, 2015.
Please refer FAQ-12 in attachment.
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