Csr
Priya (CS) (33 Points)
28 March 2015Priya (CS) (33 Points)
28 March 2015
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8224 Points)
Replied 15 April 2015
1) Amount can be spent at any time upto end of the financial year.
2) Rule 4(2) reads as under:
"(2) The Board of a company may decide to undertake its CSR activities approved by the CSR Committee, through a registered trust or a registered society or a company established by the company or its holding or subsidiary or associate company under section 8 of the Act or otherwise:
Provided that—
(i) |
|
if such trust, society or company is not established by the company or its holding or subsidiary or associate company, it shall have an established track record of three years in undertaking similar programs or projects;" |
Hence criteria of 3 years will not apply if Sec.8 company is established by the donor company or its holding or subsidiary or associate company.