MCA re-constitutes High Level Committee on Corporate Social Responsibility (CSR) to review the existing provisions and make recommendations
In a Notification dated 22nd November, 2018, a High Level Committee on Corporate Social Responsibility (“CSR”) has been re-constituted by MCA with an objective to review the existing framework and guide and formulate the roadmap for a coherent policy on CSR.
In an earlier Notification dated 28th September, 2018, the MCA had constituted a High Level Committee to review existing framework as per the Act, Rules and Circulars. The committee constituted in the month of September was directed to submit their report by December, 2018. Therefore, a new committee has been constituted to examine and audit CSR framework and analyze the outcomes of such other activities.
The Committee has been re-constituted with the following scope:
- To review the existing CSR Framework as per the Act / Rules / Circulars issued from time to time.
- To recommend guidelines for enforcement of CSR provisions.
- To suggest measures for adequate monitoring and evaluation of CSR by companies.
- To examine and recommend audit (financial, performance, social) for CSR, as well as, analyze outcomes of CSR activities / programmes / projects.
- Any other matters incidental or connected thereto.
Source: Ministry of Corporate Affairs