Quick Summary
Whenever any violation of CSR provisions is reported, action against such non-compliant Companies are initiated as per provisions of the Act after due examination of records and following due process of law. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance Corporate Affairs, in a written reply to a question in Lok Sabha today. The Minister said that all CSR related defaults are compoundable. So far, sanction for prosecution has been accorded in 366 case
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FAQ :
Sanction for prosecution has been accorded in 366 cases where CSR provisions have been violated.
Yes, all CSR-related defaults are compoundable.
So far, 148 applications for compounding have been made, and 75 cases have been compounded.
CSR is a Board-driven process, and the company's Board is empowered to plan, decide, execute, and monitor CSR activities based on the CSR Committee's recommendations.
Companies mandated to undertake CSR are required to file details of their CSR expenditure annually in the MCA21 registry.
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