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Querist : Anonymous

Querist : Anonymous (Querist)

23 August 2014 Hi Everyone,

Pls Advise on the following:-

Suppose any company falls into any 1 criteria out of 3 criteria for applicability of CSR provsion,then for that company CSR is recomendary or Mandatary?

If it is mandatary but company not take initiative for forming the commitee or spending of 2% amount then what shall be the consequenses?

Ankur Garg

Ankur Garg (Expert)

23 August 2014 CSR for you is mandatory as you are meeting one criteria. For CSR applicability only 1 criteria is enough. Now you have to form CSR Committee and CSR policy.

Not following CSR provisions shall result into violation of various provision of Companies Act 2013. There is no escape route for you now. So it is better to follow the rules.

Thanks

Message likes : 1 times

Ankur Garg

Ankur Garg (Expert)

23 August 2014 You are requested to go through the link below to check my article on CSR provisions and interpretations:

https://www.caclubindia.com/articles/law-and-interpretations-related-to-csr--21477.asp

Thanks

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