Corporate Social Responsibility
("CSR") framework in India has taken a
step forward with the Ministry of Corporate Affairs
("MCA") introducing an extensive format
for reporting CSR.
The MCA vide its notification dated February 11, 2022, has
amended the Companies (Accounts) Rules, 2014 thereby requiring
every company qualifying under the CSR provisions (Section 135) of
the Companies Act, 2013 ("Act") to
furnish a report on CSR to the Registrar of Companies
("ROC") in eForm CSR-2.
The MCA notification and the format of the eForm CSR-2 can be
accessed here.
Purpose: eForm CSR-2 broadly covers the same
disclosures already expected from companies via the Companies (CSR
Policy) Rules, 2014 ("CSR Rules"), which
were required to be provided as an annexure to the directors'
report. However, this is an added reporting compliance on CSR for
Indian companies.
