CS S. Dhanapal
Effective Date for CSR Applicability – Section 135 of the Companies Act 2013, Schedule VII and the relevant rules, namely Companies (Corporate Social Responsibility Policy) Rules, 2014 have been notified to become effective from 01st April 2014 vide MCA notification dated 27.02.2014.
Amendment to Schedule VII – Schedule VII which contains list of activities which can be undertaken by a company as part of its CSR initiatives has been amended vide this notification and companies must refer to the new list for undertaking qualified CSR activities.
Changes in CSR Rules – There are many welcome changes in the CSR Rules which have been notified now as compared to the draft rules which were issued for public comments previously. Many of the ambiguities in the Section and the draft rules have been addressed in the final notified rules.
CSR Applicability – Every company including its holding or subsidiary, and a foreign company defined under clause (42) of section 2 of the Act having its branch office or project office in India, which fulfills the criteria given below
IMPORTANT CLARIFICATIONS INTRODUCED VIA RULES
(Written by S.Dhanapal, Senior Partner, S Dhanapal & Associates, A firm of Practising Company Secretaries, Chennai.)
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