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CSR Still Has Some Grey Areas

CSR Still Has Some Grey Areas

A more flexible interpretation of what activities come under corporate social responsibility would be welcome The much-awaited corporate social responsibility rules have been notified by the Ministry of Corporate Affairs and they allay many, but unfortunately not all, of industry’s concerns. For instance, exempting overseas branch profits from the calculation of net profit is an […]

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IICA Signs MOU with Five Leading Research, Academic and Business Institutions

IICA Signs MOU with Five Leading Research, Academic and Business Institutions

INDIACSR News Network NEW DELHI: The Indian Institute of Corporate Affairs (IICA), an autonomous institute functioning under the aegis of the Ministry of Corporate Affairs, today signed 5 memoranda of understanding with country’s five leading research, academic and business institutions, namely: Indian School of Business (ISB); Institute of Public Enterprise (IPE); Tata Institute of Social […]

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Companies to Have Freedom to Choose CSR Activities, Says Sachin Pilot

Companies to Have Freedom to Choose CSR Activities, Says Sachin Pilot

NEW DELHI: Corporates would have discretion to decide on what can be considered as CSR activities under the new Companies Act, Union Minister Sachin Pilot said today. Under the Companies Act, 2013, certain class of entities are required to shell out two per cent of their three-year average annual profit towards corporate social responsibility (CSR) […]

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Religious Contributions by Corporates Not CSR Activity: Sachin Pilot

Religious Contributions by Corporates Not CSR Activity: Sachin Pilot

NEW DELHI: According to the new Companies Bill 2012, companies with a net worth of Rs.500 crore or more, a turnover of Rs.1,000 crore or more or a net profit of Rs.5 crore or more in a financial year are mandated to pay 2% of their profit towards CSR. Corporate Affairs Minister Sachin Pilot on […]

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Spending on Profit Earning Ventures Cannot be CSR

Spending on Profit Earning Ventures Cannot be CSR

  NEW DELHI: As India Inc readies itself for mandatory social welfare spending, Corporate Affairs Minister Sachin Pilot today said money spent on activities that earn profits will be a grey area while considering it as a CSR initiative. The rules on what activities should qualify as such a CSR (Corporate Social Responsibility) initiative would […]

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Sachin Pilot Discusses CSR Aspects of New Company Bill on Google+ Hangout

Sachin Pilot Discusses CSR Aspects of New Company Bill on Google+ Hangout

INDIACSR News Network NEW DELHI: One of the highlights of the new Companies Bill, as passed recently by the Parliament, is Clause 135, which provides for Corporate Social Responsibility or CSR – a first of its kind provision that is being admired and talked about not only in India but across the globe.  Bigger Private […]

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Action Taken in Cases of Corporate Frauds During 2009-2013

Action Taken in Cases of Corporate Frauds During 2009-2013

INDIACSR News Network NEW DELHI: From the years 2009-10 to 2013-14 (till date), 132 cases of fraud/ illegal transaction have been brought to the notice of the Ministry of Corporate Affairs.  Giving this information in written reply to a question in the Rajya Sabha on 6 May Sachin Pilot, Minister of Corporate Affairs, gave details […]

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Curb on Fraudulent Multi Level Marketing Companies

Curb on Fraudulent Multi Level Marketing Companies

INDIACSR News Network NEW DELHI: Multi Level Marketing (MLM) Schemes involving enrollment of a vertical chain of investors/agents constitute “Money Circulation” and are banned under the Prize Chits & Money Circulation (Schemes)Banning Act, 1978 which is implemented by the States. Giving this information in written reply to a question in the Rajya Sabha, Sachin Pilot, […]

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Corporate Social Responsibility and The Existing Companies Law

Corporate Social Responsibility and The Existing Companies Law

INDIACSR News Network NEW DELHI: There is no provision for Corporate Social Responsibility (CSR) spending by companies in the existing Companies law i.e. Companies Act, 1956. However, the Companies Bill, 2012 incorporates a provision of CSR under Clause 135. Giving this information in written reply to a question in the Rajya Sabha, Sachin Pilot, Minister […]

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Companies Need to Look Beyond Shareholder Value & Make Sustainability a Core Driver of Their Strategy, Says Sachin Pilot

Companies Need to Look Beyond Shareholder Value & Make Sustainability a Core Driver of Their Strategy, Says Sachin Pilot

Corporate Affairs Minister Inaugurates ‘CSIA International Corporate Governance Conference’ INDIACSR News Network NEW DELHI: Shri Sachin Pilot, Minister of Corporate Affairs, inaugurated the two-day 2nd CSIA (Corporate Secretaries International Association) International Corporate Governance Conference on the theme ‘Corporate Governance for Sustaining Prosperity and Posterity.’ Addressing the delegates from across the world, Shri Pilot said that […]

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