TaxTMI 
TaxTMI 
Incorporation of the Corporate Social Responsibility Provision in the New Companies Bill
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....ncorporation of the Corporate Social Responsibility Provision in the New Companies Bill <br>News and Press Release<br>Dated:- 11-12-2012<br><BR>Press Information Bureau Government of India Ministry....
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.... of Corporate Affairs 10-December, 2012 19:28 IST Clause 135 of the Companies Bill, 2011 inter alia, provides for the specified companies to spend at least 2% of the average net profits (of last 3 ....
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....years) in pursuance of the company's Corporate Social Responsibilities (CSR) policy and in case of failure, to specify the reasons for not spending such amount in the Board's Report. Giving this infor....
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....mation in written reply to a question in the Rajya Sabha today, Shri Sachin Pilot, Minister of Corporate Affairs, said that in case the disclosure about such reasons in the Board's report is not made,....
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.... the specified class of companies shall be liable for action under the provisions of the Companies Bill, 2011 which require disclosures to be made in the Board's report. CSR policy is to be undertaken....
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.... by the companies as specified in schedule VII of the Companies Bill, 2011. ------------------------ KKP<BR> News - Press release - PIB....