CSR through zero coupon zero principal instruments gains a regulated framework, with spending caps, exemption from impact assessment, and transfer rules. Corporate Social Responsibility Policy Rules are amended to recognise Not for Profit Organization and zero coupon zero principal instrument for CSR implementation. CSR spending may be carried out through such an instrument, subject to a ten percent cap on total CSR expenditure, and a subscribing company is exempt from impact assessment. The issuing organisation must complete the project within three succeeding financial years, transfer unspent amounts to a Schedule VII fund on termination of listing, and submit a compliance report to the Securities and Exchange Board of India.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
CSR through zero coupon zero principal instruments gains a regulated framework, with spending caps, exemption from impact assessment, and transfer rules.
Corporate Social Responsibility Policy Rules are amended to recognise Not for Profit Organization and zero coupon zero principal instrument for CSR implementation. CSR spending may be carried out through such an instrument, subject to a ten percent cap on total CSR expenditure, and a subscribing company is exempt from impact assessment. The issuing organisation must complete the project within three succeeding financial years, transfer unspent amounts to a Schedule VII fund on termination of listing, and submit a compliance report to the Securities and Exchange Board of India.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
