The Parliament has passed amendments to Companies Act. The bill now advocates for stricter laws for corporate social responsibility (CSR) spending by corporations.
After the amendment, violation of the CSR rules could land company officials in jail for up to 3 years. Companies violating the rules will face a penalty of Rs 50,000 to Rs 25 lakh .
Companies will have to give details about the spending of money and they have been given a three-year window to adhere.
Earlier, finance minister Nirmala Sitharaman has said legitimate profit earning cannot be devoid of social responsibility, and that companies cannot get away without meeting corporate social responsibility requirements.
“It was easy for people to interpret that either we comply or we give an explanation and get away with it. Now that is not happening because Section 135 (of the Companies Act) is being amended to provide specific penal provision in case of non-compliance,” said Sitharaman, adding that the corporate affairs ministry will now be able to give directions to companies to ensure compliance with CSR norms.
Violation of CSR norms will attract fines for both the company and defaulting officers ranging from Rs 50,000 to Rs 25 lakh, with officers also liable for imprisonment of up to three years, as per the provisions in the Companies Amendment Bill, 2019 that received Parliament’s nod on Tuesday.
“Gandhiji’s trusteeship principle is that legitimate profit-earning cannot be devoid of social responsibility,” she said, replying to the debate on the bill in the Rajya Sabha. The amendments are only to sharpen the focus on that and make the Companies Act far more effective, she added.
The bill includes an amendment that mandates that companies transfer unspent CSR money in a financial year to an escrow account meant for CSR for three years, after which any unspent amount must be transferred to a fund specified by the government.
All companies with a net worth of Rs 500 crore or more, turnover of Rs 1,000 crore or more, or net profit of Rs 5 crore or more are required to spend 2% of their average profit of the previous three years on CSR activities every year.
Sitharaman said the government is also strengthening enforcement provisions.
“We are strengthening the enforcement provisions that enable the SFIO (serious Fraud Investigation Office) to ensure speedy and more effective enforcement, including actions of disgorgement,” she said.
The minister also pointed out the importance of companies having verifiable registered physical addresses. “Physical verification of an office is necessary, otherwise there have been several companies operating from one room. So now it has become mandatory that companies have a physical address,” the minister said.
The bill seeks to replace the ordinance that was issued earlier.
Another key amendment is aimed at declogging the National Company Law Tribunals (NCLTs) through the shifting of routine matters, including change in financial year for a company and conversion of a public company to a private company, from the NCLT to the central government.
The bill also recategorised 16 compoundable offences, such as failure to file returns and issuance of shares at a discount, as civil defaults where adjudicating officers of the central government may levy penalties.
99 Comments
📀 You have received 1 message(-s) # 151. Read >> https://telegra.ph/Message--2868-12-25?hs=f2f21ef50fe16d49a9abf461bef7bb96& 📀
December 28, 2024 at 9:55 pmm2ii3v
tlovertonet
January 28, 2025 at 7:39 pmYou really make it seem really easy along with your presentation but I find this matter to be really something which I believe I would by no means understand. It seems too complicated and extremely broad for me. I’m having a look ahead in your next submit, I¦ll try to get the hang of it!
Junita Horning
February 14, 2025 at 6:12 pmHey there! This post couldn’t be written any better! Reading through this post reminds me of my good old room mate! He always kept talking about this. I will forward this post to him. Pretty sure he will have a good read. Many thanks for sharing!
droversointeru
February 25, 2025 at 9:23 pmWhat¦s Taking place i am new to this, I stumbled upon this I’ve discovered It absolutely useful and it has helped me out loads. I hope to contribute & assist different customers like its helped me. Good job.
RobertHor
March 17, 2025 at 5:22 amQuick turnaround on all my prescriptions.
can i get cheap lisinopril without prescription
Their global network ensures the best medication prices.
RobertHor
March 17, 2025 at 7:10 amMedicament prescribing information.
zestril lisinopril
A pharmacy that truly understands customer service.
LorenzoSnage
March 18, 2025 at 3:04 amThey always prioritize the customer’s needs.
can you get gabapentin
Their pet medication section is comprehensive.
zoritoler imol
March 19, 2025 at 10:29 pmI’m often to running a blog and i really recognize your content. The article has actually peaks my interest. I am going to bookmark your website and keep checking for brand spanking new information.
BryanPoush
March 20, 2025 at 2:00 amThe widest range of international brands under one roof.
cena leku gabapentin teva
A pharmacy I wholeheartedly recommend to others.
BryanPoush
March 20, 2025 at 6:33 amThe best in town, without a doubt.
where buy generic cipro price
Actual trends of drug.
BryanPoush
March 20, 2025 at 11:05 amThe epitome of excellence in international healthcare.
where to buy cipro prices
Their vaccination services are quick and easy.
droversointeru
March 22, 2025 at 6:11 pmI take pleasure in, lead to I discovered just what I was looking for. You have ended my 4 day long hunt! God Bless you man. Have a great day. Bye
drover sointeru
April 11, 2025 at 5:07 pmThis web site is really a walk-through for all of the info you wanted about this and didn’t know who to ask. Glimpse here, and you’ll definitely discover it.
Davidrit
April 24, 2025 at 10:14 amAchetez vos kamagra medicaments: acheter kamagra site fiable – kamagra pas cher
vorbelutr ioperbir
April 24, 2025 at 11:32 amIts such as you read my thoughts! You appear to understand so much about this, like you wrote the book in it or something. I think that you simply could do with a few p.c. to drive the message house a little bit, but other than that, this is excellent blog. A great read. I’ll certainly be back.
BernardDruts
April 25, 2025 at 7:30 ampharmacies en ligne certifiГ©es: Livraison rapide – Pharmacie en ligne livraison Europe pharmafst.com
BillieMed
April 25, 2025 at 7:56 amkamagra pas cher: kamagra 100mg prix – kamagra en ligne
Bradleyrussy
April 25, 2025 at 8:25 amTadalafil 20 mg prix sans ordonnance: Pharmacie en ligne Cialis sans ordonnance – Acheter Viagra Cialis sans ordonnance tadalmed.shop
PeterSquar
April 25, 2025 at 9:24 amacheter kamagra site fiable Acheter Kamagra site fiable Kamagra Commander maintenant
Robertrab
April 25, 2025 at 9:35 amhttps://pharmafst.shop/# pharmacie en ligne pas cher
BernardDruts
April 25, 2025 at 11:42 amTadalafil sans ordonnance en ligne: Achat Cialis en ligne fiable – Cialis sans ordonnance pas cher tadalmed.shop
Bradleyrussy
April 25, 2025 at 2:32 pmAcheter Viagra Cialis sans ordonnance: Acheter Viagra Cialis sans ordonnance – Cialis en ligne tadalmed.shop
Robertrab
April 25, 2025 at 3:20 pmhttps://tadalmed.com/# Cialis en ligne
PeterSquar
April 25, 2025 at 3:52 pmpharmacie en ligne Pharmacies en ligne certifiees pharmacie en ligne fiable pharmafst.shop
BernardDruts
April 25, 2025 at 3:58 pmTadalafil 20 mg prix sans ordonnance: Cialis sans ordonnance 24h – Cialis generique prix tadalmed.shop
BernardDruts
April 25, 2025 at 8:10 pmPharmacie sans ordonnance: pharmacie en ligne – pharmacie en ligne france livraison belgique pharmafst.com
BillieMed
April 25, 2025 at 8:22 pmacheter mГ©dicament en ligne sans ordonnance: Pharmacie en ligne France – acheter mГ©dicament en ligne sans ordonnance pharmafst.com
Bradleyrussy
April 25, 2025 at 8:32 pmpharmacie en ligne sans ordonnance: Meilleure pharmacie en ligne – trouver un mГ©dicament en pharmacie pharmafst.com
Robertrab
April 25, 2025 at 9:04 pmhttp://kamagraprix.com/# Achetez vos kamagra medicaments
PeterSquar
April 25, 2025 at 10:20 pmPharmacie Internationale en ligne Pharmacie en ligne France pharmacie en ligne pharmafst.shop
BernardDruts
April 26, 2025 at 12:19 amkamagra 100mg prix: Kamagra Oral Jelly pas cher – kamagra gel
BillieMed
April 26, 2025 at 2:33 ampharmacie en ligne: Pharmacie en ligne France – pharmacie en ligne france pas cher pharmafst.com
Bradleyrussy
April 26, 2025 at 2:37 amCialis sans ordonnance 24h: Cialis generique prix – Cialis en ligne tadalmed.shop
Robertrab
April 26, 2025 at 2:48 amhttps://tadalmed.com/# Tadalafil 20 mg prix sans ordonnance
BernardDruts
April 26, 2025 at 4:29 amTadalafil 20 mg prix sans ordonnance: Acheter Cialis 20 mg pas cher – cialis generique tadalmed.shop
PeterSquar
April 26, 2025 at 4:52 amkamagra pas cher kamagra en ligne Kamagra Commander maintenant
Bradleyrussy
April 26, 2025 at 8:28 amcialis prix: Tadalafil 20 mg prix en pharmacie – Cialis sans ordonnance pas cher tadalmed.shop
Robertrab
April 26, 2025 at 8:32 amhttps://tadalmed.shop/# Acheter Viagra Cialis sans ordonnance
BillieMed
April 26, 2025 at 8:46 amKamagra Oral Jelly pas cher: kamagra gel – kamagra en ligne
PeterSquar
April 26, 2025 at 11:18 amkamagra oral jelly Achetez vos kamagra medicaments Kamagra pharmacie en ligne
Bradleyrussy
April 26, 2025 at 2:07 pmTadalafil 20 mg prix en pharmacie: Achat Cialis en ligne fiable – Tadalafil 20 mg prix en pharmacie tadalmed.shop
Robertrab
April 26, 2025 at 2:08 pmhttps://tadalmed.shop/# Tadalafil sans ordonnance en ligne
BillieMed
April 26, 2025 at 2:52 pmpharmacie en ligne fiable: Achat mГ©dicament en ligne fiable – pharmacie en ligne pharmafst.com
PeterSquar
April 26, 2025 at 5:38 pmpharmacie en ligne pharmacie en ligne sans ordonnance acheter mГ©dicament en ligne sans ordonnance pharmafst.shop
BernardDruts
April 26, 2025 at 6:24 pmcialis sans ordonnance: Cialis sans ordonnance 24h – Acheter Cialis tadalmed.shop
Bradleyrussy
April 26, 2025 at 7:43 pmAcheter Cialis: Cialis en ligne – Tadalafil sans ordonnance en ligne tadalmed.shop
Robertrab
April 26, 2025 at 7:50 pmhttps://tadalmed.shop/# Acheter Cialis
BillieMed
April 26, 2025 at 8:51 pmpharmacie en ligne sans ordonnance: pharmacie en ligne pas cher – pharmacie en ligne sans ordonnance pharmafst.com
BernardDruts
April 26, 2025 at 11:06 pmpharmacie en ligne france livraison belgique: pharmacie en ligne sans ordonnance – pharmacie en ligne pas cher pharmafst.com
PeterSquar
April 26, 2025 at 11:59 pmpharmacie en ligne france fiable pharmacie en ligne sans ordonnance Pharmacie sans ordonnance pharmafst.shop
Bradleyrussy
April 27, 2025 at 1:21 amCialis sans ordonnance pas cher: Cialis sans ordonnance 24h – cialis sans ordonnance tadalmed.shop
Robertrab
April 27, 2025 at 1:28 amhttps://pharmafst.shop/# pharmacie en ligne sans ordonnance
BillieMed
April 27, 2025 at 2:54 amkamagra gel: Kamagra Oral Jelly pas cher – Kamagra pharmacie en ligne
BernardDruts
April 27, 2025 at 4:00 amAchetez vos kamagra medicaments: Kamagra pharmacie en ligne – Kamagra Commander maintenant
PeterSquar
April 27, 2025 at 6:20 amKamagra pharmacie en ligne Acheter Kamagra site fiable kamagra gel
Bradleyrussy
April 27, 2025 at 6:55 ampharmacie en ligne: Medicaments en ligne livres en 24h – pharmacies en ligne certifiГ©es pharmafst.com
Robertrab
April 27, 2025 at 7:08 amhttps://kamagraprix.shop/# Kamagra Commander maintenant
BernardDruts
April 27, 2025 at 8:59 amkamagra en ligne: Kamagra Oral Jelly pas cher – kamagra livraison 24h
BillieMed
April 27, 2025 at 9:02 ampharmacies en ligne certifiГ©es: п»їpharmacie en ligne france – pharmacie en ligne france fiable pharmafst.com
BernardDruts
April 27, 2025 at 12:09 pmpharmacie en ligne sans ordonnance: Meilleure pharmacie en ligne – Pharmacie Internationale en ligne pharmafst.com
BernardDruts
April 27, 2025 at 3:21 pmkamagra livraison 24h: kamagra 100mg prix – achat kamagra
Robertrab
April 28, 2025 at 12:05 amhttps://kamagraprix.com/# acheter kamagra site fiable
BernardDruts
April 28, 2025 at 1:17 ampharmacie en ligne: pharmacies en ligne certifiГ©es – pharmacie en ligne avec ordonnance pharmafst.com
BernardDruts
April 28, 2025 at 4:38 ampharmacie en ligne sans ordonnance: pharmacie en ligne pas cher – pharmacie en ligne livraison europe pharmafst.com
PeterSquar
April 28, 2025 at 6:40 amkamagra gel kamagra pas cher Kamagra pharmacie en ligne
Bradleyrussy
April 28, 2025 at 7:04 amkamagra livraison 24h: kamagra oral jelly – Acheter Kamagra site fiable
Robertrab
April 28, 2025 at 7:07 amhttps://tadalmed.shop/# Cialis sans ordonnance 24h
BernardDruts
April 28, 2025 at 8:26 ampharmacie en ligne france fiable: Pharmacies en ligne certifiees – Achat mГ©dicament en ligne fiable pharmafst.com
BillieMed
April 28, 2025 at 8:32 amcialis generique: Cialis en ligne – Tadalafil sans ordonnance en ligne tadalmed.shop
BernardDruts
April 28, 2025 at 12:06 pmTadalafil achat en ligne: Acheter Cialis – Achat Cialis en ligne fiable tadalmed.shop
Bradleyrussy
April 28, 2025 at 12:16 pmkamagra gel: kamagra pas cher – Kamagra Oral Jelly pas cher
Michaelpaf
April 28, 2025 at 1:32 pmlegitimate canadian pharmacies Express Rx Canada canadian pharmacy antibiotics
WalterUnunc
April 28, 2025 at 3:07 pmhttps://rxexpressmexico.shop/# purple pharmacy mexico price list
StevenHub
April 28, 2025 at 4:50 pmcanadian pharmacies comparison: Express Rx Canada – adderall canadian pharmacy
DannyTop
April 28, 2025 at 5:17 pmlegitimate canadian pharmacy: Express Rx Canada – canadian 24 hour pharmacy
Michaelpaf
April 28, 2025 at 7:00 pmonline canadian pharmacy reviews Express Rx Canada canada discount pharmacy
StevenHub
April 28, 2025 at 9:34 pmmexico drug stores pharmacies: п»їbest mexican online pharmacies – Rx Express Mexico
DannyTop
April 28, 2025 at 9:47 pmcanadian pharmacy king reviews: Generic drugs from Canada – reliable canadian pharmacy
Michaelpaf
April 29, 2025 at 12:04 amMedicineFromIndia medicine courier from India to USA indian pharmacy
DannyTop
April 29, 2025 at 2:13 amcross border pharmacy canada: Canadian pharmacy shipping to USA – cheapest pharmacy canada
WalterUnunc
April 29, 2025 at 5:09 amhttps://expressrxcanada.com/# canadian pharmacy world
Michaelpaf
April 29, 2025 at 5:30 ammedicine courier from India to USA indian pharmacy online shopping Medicine From India
DannyTop
April 29, 2025 at 7:14 ammedicine courier from India to USA: indian pharmacy online shopping – indian pharmacy
WalterUnunc
April 29, 2025 at 10:13 amhttps://rxexpressmexico.com/# mexican rx online
Michaelpaf
April 29, 2025 at 11:24 amRx Express Mexico RxExpressMexico buying from online mexican pharmacy
StevenHub
April 29, 2025 at 11:32 ammexico drug stores pharmacies: mexican rx online – mexican rx online
DannyTop
April 29, 2025 at 12:12 pmindian pharmacy online: Medicine From India – Medicine From India
MichaelDes
April 29, 2025 at 3:11 pmRxExpressMexico: RxExpressMexico – Rx Express Mexico
StevenHub
April 29, 2025 at 4:25 pmmexico drug stores pharmacies: mexico pharmacy order online – Rx Express Mexico
DannyTop
April 29, 2025 at 5:31 pmRxExpressMexico: Rx Express Mexico – mexico drug stores pharmacies
Michaelpaf
April 29, 2025 at 6:02 pmmexico pharmacy order online Rx Express Mexico mexico pharmacy order online
WalterUnunc
April 29, 2025 at 8:50 pmhttp://expressrxcanada.com/# canadian pharmacy online
StevenHub
April 29, 2025 at 9:19 pmmexico drug stores pharmacies: RxExpressMexico – п»їbest mexican online pharmacies
MichaelDes
April 29, 2025 at 9:34 pmmexico pharmacies prescription drugs: mexico pharmacy order online – mexican online pharmacy
DannyTop
April 29, 2025 at 10:42 pmRx Express Mexico: mexico pharmacy order online – mexico pharmacies prescription drugs
Michaelpaf
April 30, 2025 at 12:19 ambest canadian pharmacy to order from Canadian pharmacy shipping to USA real canadian pharmacy
DannyTop
April 30, 2025 at 4:07 ammexico pharmacy order online: RxExpressMexico – mexico pharmacies prescription drugs
StevenHub
April 30, 2025 at 5:18 amMedicine From India: Medicine From India – medicine courier from India to USA
Michaelpaf
April 30, 2025 at 6:09 amMedicine From India medicine courier from India to USA reputable indian pharmacies