Provision: Section 135(6) of the Companies Act, 2013.
Effective Date: January 22, 2021.
Purpose: It mandates that any amount remaining unspent in relation to an "ongoing project" must be transferred to a special "Unspent CSR Account" in a scheduled bank within 30 days of the end of the financial year. These funds must be spent within three financial years, failing which they must be transferred to a fund specified in Schedule VII.