General Circular no. 01/2015 – Dated: 03.02.2015
Subject: Constitution of a High Level Committee to suggest measures for improved monitoring of the implementation of Corporate Social Responsibility policies by the companies under Section 135 of the Companies Act, 2013.
Undersigned has been directed to state that a High Level Committee has been constituted under the Chairmanship of Shri Anil Baijal, Former Secretary, Govt. of India to suggest measures for monitoring the progress of implementation of Corporate Social Responsibility (CSR) policies by companies at their level and by the Government under the provisions of Section 135 of the Companies Act, 2013 and Rules thereunder.
2. The composition of the High Level Committee is as tinder:
|i.||Shri Anil Baijal
Former Secretary to Govt. of India
|ii.||Prof. Deepak Nayyar
Professor (Emeritus), Jawaharlal Nehru University, New Delhi
|iii.||Shri Onkar S Kanwar
Chairman & Managing Director, Apollo Tyres Ltd.
|iv.||Shri Kiran Karnik
Former President-NASSCOMM, New Delhi
|v.||Secretary, Department of Public Enterprises (Represented by an officer not below the rank of Joint Secretary)||Member|
|vi.||Additional Secretary (*) Ministry of Corporate Affairs||Member-Convener|
(*) Economic Adviser, MCA will discharge the responsibility in the absence of Additional Secretary, MCA.
3. Terms of Reference of the Committee are as under:
(i) To recommend suitable methodologies for monitoring compliance of the provisions of Section 135 (Corporate Social Responsibility) of the Companies Act, 2013 by the companies covered thereunder.
(ii) To suggest measures to be recommended by the Government for adoption by the companies for systematic monitoring and evaluation of their own CSR initiatives.
(iii) To identify strategies for monitoring and evaluation of CSR initiatives through expert agencies and institutions to facilitate adequate feedback to the Government with regard to efficacy of CSR expenditure and quality of compliance by the companies.
(iv) To examine if a different monitoring mechanism is warranted for Government Companies undertaking CSR, and if so to make suitable recommendations in this behalf.
(v) Any other matter incidental to the above or connected thereto.
4. The Committee shall submit its report within Six months from the date of holding of its first meeting.
5. Ministry of Corporate Affairs and Indian Institute of Corporate Affairs (IICA) shall jointly provide secretarial and technical support to the Committee. The Indian Institute of Corporate Affairs will render the necessary logistic support to the High Level Committee.
6. This issues with the approval of Hon.ble Union Minister for Corporate Affairs.
(Dr. Pankaj Srivastava)
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