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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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CSR Communication-The Gap Revealed by Vijay Kapur & Enakshi Sengupta

CSR Communication-The Gap Revealed by Vijay Kapur & Enakshi Sengupta

Communicating CSR Effectively –A study of 23 Indian Companies in Eastern India. By Vijay Kapur & Enakshi Sengupta •   Companies revealed a very low CSR score. •   CSR in most companies are altruistic in nature. •   CSR did not lead to any value creation. •   CSR is not embedded into the core business strategy. •   [...]

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The Humbug of CSR

By forcing companies to set aside profits for developing social infrastructure, the government is sneaking away from its own responsibility Sundeep Khanna When the next big corporate scam breaks in India, chances are its genesis will lie in a seemingly-innocuous provision of the Companies Bill, 2011, set for passage by Parliament. Corporate social responsibility (CSR), [...]

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Philanthropy-Plus

Philanthropy-Plus

India Inc pitches for tax breaks on CSR spend CSR, an indication of government failure Proposed CSR norms still unspecific Cost and risk management CSR should not become a convenient excuse for the Government to abdicate the primary role of delivering growth and public welfare. India Inc is justified in demanding a tax deduction for [...]

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CII Welcomes Minister’s Statement to Involve Industry in Framing the Rules Related to CSR Provisions

INDIACSR News Network NEW DELHI: Mr Chandrajit Banerjee, Director General CII, welcomed Mr Sachin Pilot’s assurance that the Ministry of Corporate Affairs will consider and work with the Finance Ministry in allowing the 2 per cent post tax CSR spend for offset under the IT provisions so that this expense did not  tantamount to be [...]

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Provisions Regarding Corporate Social Responsibility

Provisions Regarding Corporate Social Responsibility

INDIACSR News Network NEW DELHI: Clause 135 of the Companies Bill, 2011, inter alia, provides for the specified companies to spend at least 2% of the average net profits (of last 3 years) in pursuance of the company’s Corporate Social Responsibility (CSR) policy and in case of failure, to specify the reasons for not spending [...]

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Special Purpose Vehicle To monitor CSR Fund and Projects

Special Purpose Vehicle To monitor CSR Fund and Projects

Corporate affairs minister proposes SPV for transparent & full use of funds NEW DELHI: According to a media report, Central Government is planning to have a Special Purpose Vehicle to monitor spending of CSR Fund and Projects. To discuss with corporate on the issue related full and effective utilization of CSR fund Newly appointed corporate [...]

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National Body to Monitor CSR Funds, Project Execution Likely

National Body to Monitor CSR Funds, Project Execution Likely

Corporate affairs minister proposes SPV for transparent & full use of funds NEW DELHI: An independent mechanism may be put in place to ensure fair, transparent and full use of the funds earmarked by India Inc for corporate social responsibility (CSR) activities. New corporate affairs minister Sachin Pilot has proposed creation of an entity — [...]

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