Press Information Bureau
Government of India
Ministry of Corporate Affairs

18-April-2012 15:14 IST

The Proposed Disclosure Framework for the Annual Business Responsibility Report (ABBR) was presented today to Union Corporate affairs Minister Dr. M. Veerappa Moily here in New Delhi.

The Disclosure Framework is an electronic Report compatible with the MCA-21 and comprises five sections in which the last section seeks information on the nine (9) principles enshrined in the National Voluntary Guidelines. This document is meant for reporting on the National Voluntary Guidelines on the “Social, Environmental and Economic Responsibilities of the Business”

Handing over the report the Convener of the Disclosure Framework Committee (DFC) Shri Bharat Wakhlu said the frame has been designed as a mix of data fields and brief descriptive inputs which are amenable to data aggregation. It also takes into account the provisions of Section 135 of the Companies Bill 2011.

Welcoming the report Dr. Moily expressed the hope that said this document will be of immense importance for the corporate sector as well as the small and medium businesses as they can understand the ways to align themselves with the process of sustainable and inclusive business growth. He said due thought will be given to examine and discuss the proposed frame work keeping in view the New Companies Bill, 2011.

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Annual Business Responsibility Report disclosure framework promotes standardized sustainability reporting compatible with MCA 21 and corporate law. Proposed regulatory disclosure mechanism requiring businesses to file an Annual Business Responsibility Report via an electronic template compatible with MCA-21. The framework comprises five sections combining structured data fields and descriptive inputs, with the final section mapping disclosures to the nine principles of the National Voluntary Guidelines. The template design takes into account provisions of Section 135 of the Companies Bill 2011 to guide corporates and small and medium enterprises in aligning reporting with sustainable and inclusive business growth objectives.