The document outlines the Corporate Social Responsibility (CSR) requirements for companies in India according to Chapter IX, Section 135 of the Companies Act of 2013. It defines CSR as how companies integrate social and environmental concerns into their operations and interactions with stakeholders. It requires companies meeting certain net worth, turnover, or profit thresholds to spend 2% of their average net profits of the previous three years on CSR activities. Eligible companies must form a CSR committee and develop a CSR policy specifying planned activities. The policy and an annual report detailing CSR efforts and expenditures must be disclosed publicly.
Introduction
Definition of company
Characteristics of company
Types of company
Formation of company
Memorandum of association
Article of association
Prospectus
Public deposits
Share & Share capital
Allotment of Shares
Members
Meetings
Winding up
Companies Act - Companies Act, 1956 - Features - Types of Companies Act under the Act - Introduction of Companies act 2013 - Structural Comparison - Objectives of the Act - Meaning and Features of the Company - Monitoring and Regulatory Authorities - SFIO - NCLT - Challenges of Companies act 2013 - Provisions of Company Act 2013 -
This brief ppt is based on the provisions of sec 135 of Indian companies act 2013 as applicable towards CSR Corporate Social Responsibility on Companies in India.
Introduction
Definition of company
Characteristics of company
Types of company
Formation of company
Memorandum of association
Article of association
Prospectus
Public deposits
Share & Share capital
Allotment of Shares
Members
Meetings
Winding up
Companies Act - Companies Act, 1956 - Features - Types of Companies Act under the Act - Introduction of Companies act 2013 - Structural Comparison - Objectives of the Act - Meaning and Features of the Company - Monitoring and Regulatory Authorities - SFIO - NCLT - Challenges of Companies act 2013 - Provisions of Company Act 2013 -
This brief ppt is based on the provisions of sec 135 of Indian companies act 2013 as applicable towards CSR Corporate Social Responsibility on Companies in India.
India's ancient wisdom, which is still relevant today, inspires people to work for the larger objective of the well-being of all stakeholders. For example, our Rushees, Munees and Saints preached us to serve the society. The idea of CSR first came up in 1953 when it became an academic topic in HR Bowen’s “Social Responsibilities of the Business”. Since then, there has been continuous debate on the concept and its implementation. Although the idea has been around for more than half a century, there is still no clear consensus over its definition. Post 1991, there is increasingly a receding role of the state in the economic and social sphere. An increasing acceptance of CSR by large number of corporate, post liberalization can thus be seen in the context of the larger role being consciously carved for the private sector in an economy which was earlier largely controlled and managed by the State. The corporate world is keen to exploit the opportunities that are being provided by the new economic outlook of the State. Today, 93% of the world’s largest 250 companies now publish annual corporate responsibility reports, almost 60% of which are independently audited.
MEANING AND DEFINITION OF COMPANY, IT'S CHARACTERISTICS AND TYPES OF COMPANYKhushiGoyal20
This slide share is of subject company law . In this you will learn about meaning and definition of company , types / kinds of company (private , public , holding , subsidiary , limited liability and unlimited liability company etc.) , and its characteristics.
BONUS ACT BASICS
A bonus is an extra amount of money that is added to someone's pay, usually because they have worked very hard.
The practice of paying bonus in India appears to have originated during First World War when certain textile mills granted 10% of wages as war bonus to their workers in 1917.
The Companies Bill 2012 was passed in the Lok Sabha on 18 December 2012. The bill seeks to consolidate and improve corporate governance and further strengthen the regulations for the corporates. One of the noticeable features of the bill is introduction of the most debated concept of Corporate Social Responsibility (CSR). The attached presentation by Ms Gayatri Subramanian, Program Coordinator - CSR & Corporate Governance, Indian Institute of Corporate Affairs, New Delhi, presents a clear picture on the new CSR Bill.
This is a presentation of The Triple Bottom Line by Alexis Dogwe, Camille Eusebio, Maurice Gonzales, Leslee May Tandoc and Al Marie Tating as part of the requirements in the subject: Marketing and Commercialization of High Technology Products.
University of the Philippines, Technology Management Center
India's ancient wisdom, which is still relevant today, inspires people to work for the larger objective of the well-being of all stakeholders. For example, our Rushees, Munees and Saints preached us to serve the society. The idea of CSR first came up in 1953 when it became an academic topic in HR Bowen’s “Social Responsibilities of the Business”. Since then, there has been continuous debate on the concept and its implementation. Although the idea has been around for more than half a century, there is still no clear consensus over its definition. Post 1991, there is increasingly a receding role of the state in the economic and social sphere. An increasing acceptance of CSR by large number of corporate, post liberalization can thus be seen in the context of the larger role being consciously carved for the private sector in an economy which was earlier largely controlled and managed by the State. The corporate world is keen to exploit the opportunities that are being provided by the new economic outlook of the State. Today, 93% of the world’s largest 250 companies now publish annual corporate responsibility reports, almost 60% of which are independently audited.
MEANING AND DEFINITION OF COMPANY, IT'S CHARACTERISTICS AND TYPES OF COMPANYKhushiGoyal20
This slide share is of subject company law . In this you will learn about meaning and definition of company , types / kinds of company (private , public , holding , subsidiary , limited liability and unlimited liability company etc.) , and its characteristics.
BONUS ACT BASICS
A bonus is an extra amount of money that is added to someone's pay, usually because they have worked very hard.
The practice of paying bonus in India appears to have originated during First World War when certain textile mills granted 10% of wages as war bonus to their workers in 1917.
The Companies Bill 2012 was passed in the Lok Sabha on 18 December 2012. The bill seeks to consolidate and improve corporate governance and further strengthen the regulations for the corporates. One of the noticeable features of the bill is introduction of the most debated concept of Corporate Social Responsibility (CSR). The attached presentation by Ms Gayatri Subramanian, Program Coordinator - CSR & Corporate Governance, Indian Institute of Corporate Affairs, New Delhi, presents a clear picture on the new CSR Bill.
This is a presentation of The Triple Bottom Line by Alexis Dogwe, Camille Eusebio, Maurice Gonzales, Leslee May Tandoc and Al Marie Tating as part of the requirements in the subject: Marketing and Commercialization of High Technology Products.
University of the Philippines, Technology Management Center
Business & Industry - CSR - Industrial Policy - CSR Committee - Resposibilities of the Committee - Format of Reporting - CSR Policy - List of CSR Activities
Study tip 7 Corporate Social Responsibility by Dipti DhakulDipti Dhakul
COMPANY SECRETARY: COMPANY LAW
Corporate Social Responsibility
The functions of CSR Committee
• To formulate and recommend to the Board, a CSR Policy which would indicate the activities to be undertaken ïn areas or subject, specified in Schedule VII of the Act.
• To recommend the amount of the expenditure to be incurred on the activities undertaken in pursuance of the CSR policy.
• To institute a transparent monitoring mechanism for implementation of the CSR projects or programs or activities undertaken by the company.
• To monitor the CSR policy of the company time to time.
Why building sustainable businesses are important for the 21st Century Corporation. The rationale for India's 2% CSR law, and why it makes sense.
A journey from global imperatives to national law, and the road ahead for creating sustainable businesses which include all stakeholders in creating value across people, plant and profits.
India became the first country to mandate spend on CSR activities through a statutory provision after the President of India gave assent to the Companies Bill, 2013,.
The Provision of Corporate Social Responsibility (CSR) are effective from financial year 2014-15.
As per Section 135 of the Act, every company with a specified net worth or turnover or net profit are required to mandatorily spend 2 percent of its average net profit towards specified CSR activities.
Though many corporate houses in India have been doing CSR activities voluntarily, the new CSR provisions put formal and greater responsibility on companies to set out clear framework and process to ensure strict compliance.
The Board of Directors of the companies are responsible to ensure that the company spends the mandatory CSR spend on specified CSR activities in accordance with the CSR policy of the company and disclose the CSR policy and CSR activities of the company as specified in the provisions.
Each qualifying company should form a CSR committee which will formulate the CSR policy of the company and effectively monitor the CSR activities of the company.
The Ministry of Corporate Affairs (MCA) has issued draft rules on CSR for public discussion. The said draft CSR rules lay down the framework and guidance on the manner in which every eligible company is expected to undertake CSR initiatives.
With the notification of CSR provisions in Companies Act, 2013, it’s time for Indian Companies to imbibe the culture of giving back to the society. Essentially, it requires the prescribed companies to spend at least 2% of the average net profits of 3 immediately preceding financial years and setting up a CSR Committee for formulation and monitoring of CSR Policy. However the Board is restricted to confine to CSR activities mentioned in Schedule VII.
Presentation prepared based on the Section 135 of the Companies Act, 2013 , Companies (Corporate Social Responsibility Policy) Rules, 2014 and Revised Schedule VII of the CA 2013.
The Companies Act, 2013 requires every eligible company in India to spend 2% of their profits on Corporate Social Responsibility (“CSR”) activities. The company’s Board is entrusted with the responsibility of ensuring proper compliance with the requirement. CSR activities, unlike traditional charity, should be carried out in ‘project mode’ in areas specified in the regulations. The regulations also require preparation of a CSR policy & an annual action plan for undertaking targeted CSR projects during the year.
Similar to Corporate social responsibility in Companies ACT 2013 (20)
Car Accident Injury Do I Have a Case....Knowyourright
Every year, thousands of Minnesotans are injured in car accidents. These injuries can be severe – even life-changing. Under Minnesota law, you can pursue compensation through a personal injury lawsuit.
Military Commissions details LtCol Thomas Jasper as Detailed Defense CounselThomas (Tom) Jasper
Military Commissions Trial Judiciary, Guantanamo Bay, Cuba. Notice of the Chief Defense Counsel's detailing of LtCol Thomas F. Jasper, Jr. USMC, as Detailed Defense Counsel for Abd Al Hadi Al-Iraqi on 6 August 2014 in the case of United States v. Hadi al Iraqi (10026)
How to Obtain Permanent Residency in the NetherlandsBridgeWest.eu
You can rely on our assistance if you are ready to apply for permanent residency. Find out more at: https://immigration-netherlands.com/obtain-a-permanent-residence-permit-in-the-netherlands/.
Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
Introduction-
The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.
A "File Trademark" is a legal term referring to the registration of a unique symbol, logo, or name used to identify and distinguish products or services. This process provides legal protection, granting exclusive rights to the trademark owner, and helps prevent unauthorized use by competitors.
Visit Now: https://www.tumblr.com/trademark-quick/751620857551634432/ensure-legal-protection-file-your-trademark-with?source=share
In 2020, the Ministry of Home Affairs established a committee led by Prof. (Dr.) Ranbir Singh, former Vice Chancellor of National Law University (NLU), Delhi. This committee was tasked with reviewing the three codes of criminal law. The primary objective of the committee was to propose comprehensive reforms to the country’s criminal laws in a manner that is both principled and effective.
The committee’s focus was on ensuring the safety and security of individuals, communities, and the nation as a whole. Throughout its deliberations, the committee aimed to uphold constitutional values such as justice, dignity, and the intrinsic value of each individual. Their goal was to recommend amendments to the criminal laws that align with these values and priorities.
Subsequently, in February, the committee successfully submitted its recommendations regarding amendments to the criminal law. These recommendations are intended to serve as a foundation for enhancing the current legal framework, promoting safety and security, and upholding the constitutional principles of justice, dignity, and the inherent worth of every individual.
Corporate social responsibility in Companies ACT 2013
1. Chapter IX, Section 135 of Companies act, 2013
CORPORATE
SOCIAL
RESPONSIBILITY
2. CSR is a process by which an organization thinks about and
evolves its relationships with stakeholders for the common good
and demonstrates its commitment in this regard by adoption of
appropriate business processes and strategies. Thus, CSR is no
charity or mere donations.
CSR is a way of conducting business, by which corporate entities
visibly contribute to the social good. Socially responsible
companies use CSR to integrate economic, environmental and
social objectives with the company’s operations and growth.
3. APPLICABILITY of SEC.135(1) :-
To all companies that have either of the following in
any financial year -
Net worth of INR 500 Crores or more
Turn over of INR 1000 Crores or more
Net profit of INR 5 Crores or more
*All companies means every company including its holding
or subsidiary or foreign company having its branch office or
project office in India.
4. CSR COMMITTEE :-
Composition As per act :-
• Compromising of 3 or more directors with at least 1 Independent
Director
• Composition should be disclosed in the annual board of directors report
Company –wise composition rules :-
• Unlisted public or private company u/s 135(1), not required to appoint
Independent Director pursuant to sec.149(4) :- Composition committee
without independent director
• Private company having 2 directors only :- Compose committee with
such 2 directors
• In case of foreign company:- Committee shall comprise of 2 persons of
which
1.) One person shall be specified u/s 380(1)(d) of this act;
2.) Another person shall be nominated by foreign company.
5. RESPONSIBILITY OF THE COMMITTEE :-
o Committee shall prepare, formulate and
recommend to the board the CSR policy of the
company which shall indicate activities to be
undertaken;
o Recommend amount of expenditure to be incurred
on the above activities;
o Monitor CSR policy from time to time
6. RESPONSIBILITIES OF COMPANY’S
BOARD :-
o Approve and Disclose CSR policy in the Annual
Director’s report and company website;
o Ensure implementation of CSR activities as per the
policy;
o Ensure that the company spends, in every financial
year, at least 2% of average net profit made during
the three immediate preceding financial years;
o Director’s report to specify reasons in case the
specified amount is not spenyt;
7. ANNUAL SPENDING ON CSR BY
COMPANIES :-
For every financial year, CSR spending would be computed
as 2% of the average net profits made by the company
during every block of three preceding financial years
Net profit for the sec.135 and CSR rules shall mean, net
profit before tax as per books of accounts and shall not
include profits arising from branches outside India
For this purpose, the average Net profit will be
calculated in accordance with the sec.198
8. CSR POLICY :-
CSR Policy of the company shall include :-
• Projects and programs that are to be undertaken;
• A list of CSR projects/ programs which a company plans to undertake,
which may also focus on integrating business models with social and
environmental priorities and processes in order to create shared value,
specified modalities of execution in the execution of areas or sectors
chosen and implementation schedules;
CSR of the company should provide that surplus arising out of the CSR
activity will not be part of business profits of a company.
CSR Policy would specify that the corpus would include the
following:
a] 2% of the average net profits, there from, out of CSR
activities
b] Any income arising out of CSR activities;
c] Surplus arising out of the CSR activities.
9. FORMAT OF REPORTING :-
Format for the annual report on CSR initiatives to be
included in the board report by qualifying companies;
Provide a brief outline on Company’s CSR Policy including
an overview of activities proposed to be undertaken and
indicate the web link to the CSR Policy;
The composition of the CSR committee
Average Net profit of the company for last three financial
years;
Prescribed CSR expenditure;
In case the company has failed to spend the 2% of the
Average Net Profit (INR) of the last 3 financial years, please
provide the reasons for not spending the amount
10. FORMAT OF REPORTING :-
Details of CSR activities/ projects undertaken during the
year:
a.) Total amount to be spent for the year;
b.) amount carried forward from earlier years;
c.) amount spent during the year;
d.) amount carried forward for the year.
To be signed by CEO/ MD/ Director or Chairman CSR
Committee. (Corporate Social Responsibility) Companies act,
2013
11. LIST OF CSR ACTIVITIES :-
Eradicating extreme hunger and poverty;
Promotion of education;
Promotion of gender equality and empowering women;
Reducing child morality and improving maternal health;
Ensuring environmental sustainability;
Employment enhancing vocational skills;
Social business projects;
Contribution to the Prime Minister's National Relief Fund or
any other fund setup by the Central Government or the
State Governments for socio-economic development and
relief and funds for the welfare of the Scheduled Castes, the
Scheduled Tribes, other backward classes, minorities and
women ;
Such other matters as may be prescribed. (Corporate Social
Responsibility) Companies act, 2013