Csr
This query is : Resolved
21 January 2015
X ltd is a public company having paid up capital more than 10 crore, has constituted CSR committee without appointing the Independent director on the Board and now the Board want to hold CSR committee meeting for discussing the CSR policy and quantum to spend for CSR. Is the action of Board is tenable in law. please give your valuable comments regard this.
22 January 2015
In case of UNLISTED PUBLIC COMPANY Not required to have an Independent Director, the committee can be constituted without an Independent Director.
22 January 2015
but as per section 135 and rules made thereunder if a cmpany have net profit of rs. 5 crore or more then it's mainadatory to constitute CSR committee. nad X ltd has profit of rs. 19 Crore in f.y. 13-14
22 January 2015
and sir as per section 149 an unlisted company having more than paid up capital of rs. 10 cr. it is also maindatory to appoint atleast 2 ID on the Board.
22 January 2015
1 YEAR TIME PERIOD IS PROVIDED TO COMPLY WITH THE PROVISIONS
22 January 2015
For the time being you can constitute CSR Committee without ID
22 January 2015
sir if up to 31st March,2015 company couldn't appoint ID on the Board and it has already approved the CSR ploicy without the ID in the CSR meeting...then it thid case will the CSR policy and Meeting of CSR committee will be treated valid or Not...??
22 January 2015
yes it will be trated as vaild.
22 January 2015
thanks a lot sir for giving your valuable views.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Treatment of Pension ?annuity returns on PMVY
- Free lancer income
- What is provisional receipt number for generation of form 16A
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- TDS related Query_Liquidated Damages
- Form 27Q Correction statement taking too long to update on IT Portal
- NON- SUBMISSION OF LLP FORM 3
- Regarding IMS Mandatory from 1st July 2026
- GSTR-4 Annual Return ! Pending Returns for F.Y. 20-21 to 22-23
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
