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ARTICLE · 15 JANUARY 2018

Government Seeks Strict Compliance To CSR

S.S. Rana & Co.
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In a recent move, the Ministry of Corporate Affairs intends to take stringent action against the companies violating the provisions of the Companies Act, 2013 with respect to compliances of their Corporate Social Responsibility.

IndiaCorporate/Commercial Law
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In a recent move, the Ministry of Corporate Affairs (hereinafter referred to as the "Ministry") intends to take stringent action against the companies violating the provisions of the Companies Act, 2013 (hereinafter referred to as the "Act") with respect to compliances of their Corporate Social Responsibility (hereinafter referred to as 'CSR'). The permission for penal action against 196 companies who have failed to comply with the regulations for corporate social responsibility in 2014-15, has been given by the Ministry.

Introduced under the Act, Corporate Social Responsibility is one of the methods whereby the companies pay back to the society by making their contribution for the welfare of mankind. As per the European Union, it "is a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis". Corporate Social Responsibility ensures the socio-economic and

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