Ir­re­spon­si­ble

Down to Earth - - ON THE WEB -

The Com­pa­nies Act, 2013, makes it manda­tory for listed and un­listed or­gan­i­sa­tions of a cer­tain size and net worth to spend at least two per cent of their av­er­age net profit to­wards cor­po­rate so­cial re­spon­si­bil­ity ( CSR). Re­cent me­dia re­ports have talked about how more than half of the 460 firms that filed their an­nual re­ports on CSR as of Jan­uary 31, 2016, failed to spend the pre­scribed amount for 2014-15. In Ir­re­spon­si­ble gaps in cor­po­rate so­cial re­spon­si­bil­ity (1-15 Septem­ber, 2015) DownTo

Earth pointed out that the rot is much deeper. Some 6,000 com­pa­nies are re­quired to in­vest in CSR un­der the Com­pa­nies Act. But ac­cord­ing to Min­istry of Cor­po­rate Af­fairs data, two-thirds have failed to meet the two per cent spend­ing man­date.

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