From Give2Asia Newsletter: Companies Prepare for the CSR Clause in India

ompanies Prepare for the CSR Clause in India
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Companies Prepare for the "CSR Clause" in India

Companies operating in India are getting ready to do good, whether they like it or not.

Starting soon, two percent of corporate profits in India will need to be spent on corporate social responsibility (CSR). The new requirement is included in clause 135 of The Companies Bill, which was approved in December 2012 by the Lok Sabha, India's lower house of parliament. In addition to mandating CSR, the bill, as approved by the Lok Sabha, contains new provisions dealing with insider trading, independent directors, class actions, a one person company, “sick” companies, fraud, and officers in default.

Currently, The Companies Bill awaits approval by the Rajya Sabha (India’s upper house of parliament) and will thereafter likely receive assent by the President of India. Read more.

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