Csr

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Jigar (Querist)
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31 August 2013 Plz let me know the definition of Corporate Social Responsibility as per the New Companies Act. Means what are the activity which falls under CSR.

Ajay Mishra

Ajay Mishra (Expert)
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31 August 2013 The New Companies Act, 2013 has not defined CSR.

Schedule VII read with Section 135 of such CA, 2013 specified Activities which may be included by companies in their Corporate Social Responsibility Policies.

Ajay Mishra

Ajay Mishra (Expert)
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31 August 2013

Discourses on CSR suggest that many definitions of CSR exist within the business community, and CSR continues to be an evolving concept, with no single definition that is universally accepted.
Given below are three key definitions that have garnered wide acceptance and favour amongst business circles:

Definition # 1: Philip Kotler and Nancy Lee (2005) define CSR as “a commitment to improve community well being through
discretionary business practices and contributions of corporate resources” whereas Mallen Baker refers to CSR as “a way companies manage the business processes to produce an overall positive impact on society.”

Definition # 2: According to World Business Council for Sustainable Development “Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality
of life of the workforce and their families as well as of the local community and society at large”.

To know more about CSRgo to the following link:

https://www.in.kpmg.com/pdf/csr_whitepaper.pdf

Jigar

Jigar (Querist)
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02 September 2013 Thanks Mr. Ajay.

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