CSR Committee duties require an annual action plan detailing projects, execution, fund use and monitoring. The CSR Committee must be constituted according to company type and must formulate and recommend to the Board an annual action plan that lists Schedule VII projects, prescribes manner of execution, sets modalities for fund utilisation and implementation schedules, establishes monitoring and reporting mechanisms, and includes need and impact assessment details; the Board may alter the plan during the financial year on the Committee's recommendation with reasonable justification.