What you need to know about the new Company law and CSR

The Companies Bill (the Bill), as passed by the Rajya Sabha on 8 August 2013 will introduce the concept of ‘Corporate Social Responsibility’ (CSR) into Indian company law. The World Business Council for Sustainable Development defines the concept of CSR as a “continuing commitment by business to behave ethically and contribute to economic development while…

Highlights of New Companies Bill 2012

CSR mandatory with passage of New Companies Bill The New Companies Bill was finally passed in Rajya Sabha on Thursday, making it mandatory for profit making companies to spend on activities related to Corporate Social Responsibility (CSR). With the new legislation, India would possibly become the first country to have Corporate Social Responsibility (CSR) spending…

Companies Bill 2012 passed by Rajya Sabha

New Delhi: The much-awaited Companies Bill was passed in the Rajya Sabha on Thursday. The new Bill will replace the nearly six-decade old regulations that govern corporates in the country. The Companies Bill 2012 envisages a slew of changes to rules governing the functioning as well as social responsibilities of corporates. The new legislation would…