CSR spending must for firm in black even if its group is in red
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.
Publication Date:
11/09/2013