You are browsing entries filed in “ What is CSR ”

Business Leaders Question Mandatory CSR

NEW DELHI: Indian Express reported that India Inc today reiterated its concern on the mandatory spending of at least 2 per cent on the corporate social responsibility activities. Rahul Bajaj, chairman of Bajaj Group, told that the government “succumbed” to the pressure exerted by the standing committee on finance and members of Parliament, who were [...]

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Listed Companies May Have to Spend Rs 8,000 Crore on Corporate Social Responsibility

Listed Companies May Have to Spend Rs 8,000 Crore on Corporate Social Responsibility

Listed profit-making companies could spend up to Rs 8,000 crore on CSR activities if they are able to hit a target of 2% of net profits, stipulated in the new Companies Act approved by the Lok Sabha on Tuesday. MUMBAI: Listed profit-making companies could spend up to Rs 8,000 crore on corporate social responsibility (CSR) [...]

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FICCI Welcomes New Company Bill

FICCI Welcomes New Company Bill

INDIACSR Bureau NEW DELHI: Leading Business Chamber -FICCI welcomed passage of this important Bill by the Lok Sabha. The Bill has been through many iterations in its draft stage and has emerged as a contemporary legislation and a worthy replacement to the time tested Companies Act, 1956. “The Bill intends to simplify regulations, bring greater [...]

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Companies Bill 2011: CSR Mandatory for Profit-Making Companies

Companies Bill 2011: CSR Mandatory for Profit-Making Companies

NEW DELHI: The Lok Sabha on Tuesday approved the much-awaited Companies Bill, 2011, making it mandatory for profit-making companies to spend on activities related to corporate social responsibility. If a company does not do so, it will have to explain the reasons for it. The Bill, aimed at improving corporate governance, also contains provisions to [...]

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LokSabha Approves Company Bill 2011

LokSabha Approves Company Bill 2011

INDIACSR Bureau NEW DELHI: On 18 December, finally the Lok Sabha passed the Companies Act 2011,  paving the way for a new modern company law. The new act will replace the existing Companies Act 1956, which was enacted 56 years ago. More importantly, the bill gives more muscle to shareholders. Now, shareholders can take legal [...]

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Salient Features of the Companies Bill 2011

Salient Features of the Companies Bill 2011

INDIACSR News Network The Companies Bill, 2011, which was passed by the Lok Sabha yesterday (18 December 2012), on its enactment will allow the country to have a modern legislation for growth and regulation of corporate sector in India. The existing statute for regulation of companies in the country, viz. the Companies Act, 1956 had [...]

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Govt to Have a Hands-off Approach on CSR

As per the new regulations in the making, it will become mandatory for a company to spend 2% of net profit KOLKATA: Union corporate affairs ministry has put the onus of performing corporate social responsibility (CSR) on industry, as the Companies Bill is set to be tabled before the Parliament. “The government wants to have [...]

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Coal India, ONGC, SAIL Not Fully Utilize CSR Funds This Year

Coal India, ONGC, SAIL Not Fully Utilize CSR Funds This Year

NEW DELHI: Blue chip Central Public Sector Enterprises like Coal India, Indian Oil Corporation, ONGC and SAIL have not fully utilized their funds allocated for undertaking corporate social responsibility projects in 2011-12. However, NTPC exceeded the limit of allocated amount for carrying out CSR activities in the last fiscal. The company had earmarked INR 45 [...]

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2.53 Lakh Companies Did Not File Financial Statements in 2010-11

  NEW DELHI: More than 2.5 lakh companies failed to furnish their financial statements and other filings in the fiscal year 2010-11, Parliament was informed on Thursday. “During the year 2010-11, 2,53,277 companies have not filed their balance sheets and annual returns,” Corporate Affairs Minister Sachin Pilot said in a written reply to the Lok [...]

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SFIO Asked to Probe Fraud by 83 Companies Since 2008: Sachin Pilot

NEW DELHI: SFIO, the investigation arm of the Corporate Affairs Ministry, has been ordered to probe alleged fraud in 83 companies in the last four years, Parliament was informed ON Thursday. The 83 companies include Reebok India, Vaishnavi Corporate Communications, Satyam Computer Services, Ambuja Cements, Ultratech Cement, ACC and Sesa Goa, Corporate Affairs Minister Sachin [...]

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