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Make CSR mandatory for cos, says House Panel

Aug 14, 2012

The Standing Committee on Finance, headed by BJP leader Yashwant Sinha, is in favour of making corporate social responsibility (CSR) mandatory for companies.

It has called for a modification in the language of the Companies Bill 2011 so as to “ensure” that corporates spend two per cent of their net profit on CSR activities.

The Companies Bill 2011 in the present form specifies that companies “shall make every endeavour to ensure” that the stipulated percentage of sum is spent on CSR.

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Source: Business Line

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