Corporate Social Responsibility requirements clarified: timing, committee composition and eligible activity scope refined by amendment.

Amendment substitutes the reference to the immediately preceding financial year for prior general references, requires a CSR Committee of two or more directors where an independent director is not mandated, rephrases eligible CSR spending to activities "in areas or subject, specified in Schedule VII," and replaces the Explanation to clarify that net profit excludes prescribed sums and must be calculated in accordance with the statutory profit-calculation framework.

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