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of <h1>Companies with high net worth, turnover, or profit must form CSR Committee, spend 2% on CSR, or explain shortfall.</h1> Every company with a net worth of INR 500 crore or more, turnover of INR 1,000 crore or more, or net profit of INR 5 crore or more must form a Corporate Social Responsibility (CSR) Committee with at least one independent director. The Board must disclose the committee's composition in its report and approve a CSR policy based on the committee's recommendations. The company should spend at least 2% of its average net profits from the last three years on CSR activities. If this amount is not spent, the Board must explain the reasons in its report.
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