ISSN

2321-5763 (Online)
0976-495X (Print)


Author(s): Truptha Shankar, H. Rajashekar

Email(s): truptha@gmail.com\ rajashekarh1@yahoo.co.in

DOI: Not Available

Address: Truptha Shankar1 and Dr. H. Rajashekar2
1Doctoral Fellow, Department of Studies in Commerce, University of Mysore, Mysore
2Professor and Chairman, Department of Studies in Commerce, University of Mysore, Mysore
*Corresponding Author

Published In:   Volume - 4,      Issue - 4,     Year - 2013


ABSTRACT:
Clause No.135 in the Companies Bill 2012 states that every company with a net worth of Rs 500 crore or an annual turnover of Rs 1,000 crore or a net profit of Rs 5 crore has to create a CSR committee, of which at least one board director must be independent. The company’s board shall ensure that at least 2% of its annual average net profit made during the three preceding financial years is spent on CSR every financial year. If the company fails to spend such amount, the board shall specify the reasons for not spending the amount. However, the bill does not specify any penalty or legal implications for not adhering to the 2% CSR mandate. The enactment of a new legislation in 2013 could prove to be a turning point for Corporate Social Responsibility (CSR) activities in India. Most Indian private companies so for involved with short-term philanthropy activities will be obligated to focus on particular social theme and evolve a long term CSR strategy. This paper broadly attempts to provide an understanding of current CSR state of affairs in India and explores the possible future implications of the Companies Bill 2012 on the companies as well as the upon the philosophy of CSR in India .


Cite this article:
Truptha Shankar, H. Rajashekar. Impact of the proposed Corporate Social Responsibility mandate in the new Companies Bill 2012 of India . Asian J. Management 4(4): October –December, 2013 page 317-324.


Recomonded Articles:

Author(s): Saritha Madipelli, Y. Chinappa

DOI:         Access: Open Access Read More

Author(s): Dibyendu Bikash Datta, Sankhadip Bhattacharyya

DOI: 10.5958/2321-5763.2016.00002.0         Access: Open Access Read More

Author(s): M. Rifaya Meera, R. Padmaja, R. Mohammed Abubakkar Siddique

DOI: 10.5958/2321-5763.2017.00023.3         Access: Open Access Read More

Author(s): Prakash Pahari, Deepa Guleria, Ranbir Singh

DOI: 10.5958/2321-5763.2017.00168.8         Access: Open Access Read More

Author(s): Sreeja K, KG Hemalatha

DOI:         Access: Open Access Read More

Author(s): Subhadeep Mukherjee

DOI: 10.5958/2321-5763.2017.00010.5         Access: Open Access Read More

Author(s): N. Rajendhiran, M. Kousalya Devi

DOI: 10.5958/2321-5763.2018.00014.8         Access: Open Access Read More

Author(s): Rashid Farooqi, Khalid Raza

DOI: 10.5958/2321-5763.2017.00045.2         Access: Open Access Read More

Author(s): Vaishali Waikar, Yamini Karmarkar

DOI: 10.5958/2321-5763.2018.00001.X         Access: Open Access Read More

Asian Journal of Management (AJM) is an international, peer-reviewed journal, devoted to managerial sciences. The aim of AJM is to publish the relevant to applied management theory and practice...... Read more >>>

RNI: Not Available                     
DOI: 10.5958/2321-5763 


Recent Articles




Tags