Mumbai : There is need for significant improvement in the quality of disclosure on CSR activities, particularly with regard to quantum of spending, said a report released by proxy advisory firm IiA
This is an analysis by PwC of the significant changes proposed by Companies Act 2013 as compared to the 1956 Act . The Companies Act 2013 passed by the government includes several changes to govern the operation and social responsibilities of corporates and will replace the Companies Act, 1956.
Includes setting up National Co Law Tribunal and Appellate Tribunal
The Ministry of Corporate Affairs (MCA) released the second set of draft rules to implement the new companies Act, 2013, which will replace the nearly six-decade-old legislation governing companies in the country. The draft rules would be open for comments till October 19. With the second set, draft rules for 24 chapters of the new legislation have been released
The government today released the second set of draft rules for the implementation of landmark Companies Act, 2013, that will replace the nearly six-decade old legislation governing corporates in t
Corporate Affairs Ministry to seek legal opinion on diversion from Companies Act
The Chhattisgarh government has sprung a unique and potentially illegal interpretation of the new Companies Bill’s mandatory Corporate Social Responsibility (CSR) provision on private sector players, by asking firms to deposit their contributions to the Chief Minister Community Development Fund rather than undertake CSR projects on their own.
With the new Companies Act, 2013, making it mandatory for all the companies with a turnover of Rs 1,000 crore or net profit of Rs 5 crore or more to earmark 2 per cent of their net profit for the p
The draft rules for the new Companies Act say activities benefiting a company's own employees and families will not qualify as CSR spending
The ministry of corporate affairs (MCA) proposes to mandate companies to spend two per cent of their average net profit for the past three years on fulfilling their corporate social responsibilities (CSR) even if their group makes consolidated net loss.
Under the new Companies Act, 2013, all profitable companies with a sizeable business will have to spend every year at least 2% of 3 year average profit on CSR works
Expecting an annual CSR spending of Rs 15,000-20,000 crore by India Inc, Corporate Affairs Minister Sachin Pilot has asked companies to see the new law as an investment opportunity to create a better work environment, rather than a forced expenditure.
Cos Asked To Set Aside 2% Of Avg Net Profits Of Last 3 Yrs As Seed Capital
Companies which were hoping to fulfill their corporate social responsibility (CSR) obligations, introduced by the recently enacted Companies Act, 2013, through the easy route of donations or activities that would exclusively benefit their employees and families are in for a rude shock.
