BHUBANESHWAR : One-day Seminar on Corporate Social Responsibility (CSR) was held at KIIT University recently. Organized by KIIT Law School in association with the National Insurance Company Limited, it was inaugurated by Hon’ble Mr. Justice Sudhansu Jyoti Mukhopadhaya, Judge, Supreme Court of India in the presence of Hon’ble Mr. Justice Pinaki Chandra Ghose, Judge, Supreme Court of India, Hon’ble Mr. Justice Amitava Roy, Chief Justice, Orissa High Court, Hon’ble Mr. Justice P. K. Chattopadhyay, Judge, Calcutta High Court, Mr. S. C. Das, Chief Manager (Legal), NIC Ltd. and Dr. A. Samanta, Founder, KIIT & KISS.
Corporate houses earn their profits from the society so they have certain social responsibilities towards their stakeholders, workforce, their families and society at large, said Justice Mukhopadhaya. They must discharge their responsibilities for the downtrodden sections of the society, he stated, informing that Companies Act has been amended by the Govt. of India to ensure this. As per the act, companies which do business in access of Rs. 1000 crore per annum and make profit of Rs. 5 crore per year must spend 2% of their average net profit on corporate social responsibility, he elaborated. Even though KIIT is not a corporate house, its authorities are providing free education, boarding, healthcare and food to 22,500 tribal children as its responsibility towards society, he noted with appreciation.
Justice Ghose said, CSR clause was incorporated in Companies Act in 2013 as it was felt that their role was necessary in development of society. Meaning of CSR is fluid, he said, explaining that it may include philanthropic activities, eradication of malnutrition, setting of old age home, orphanage, giving free health care to poor people, skill development programs for rural poor, environmental sustainability, women empowerment and gender equity, rural development, disaster management, etc.
Justice Roy appreciated corporate social responsibility activities of KIIT. Earlier, introducing the topic, Justice Chattopadhyay said, CSR is a comparatively new idea in existing socio-economic milieu. Ploughing part of the corporate profit for social development brings harmony in the society, he stated. Law students, particularly, should be very well aware of the concept of corporate social responsibility, he suggested. Dr. Samanta expressed gratitude to the dignitaries and participants for visiting KIIT to deliberate upon this important subject. Social responsibility is one of the core philosophies of KIIT, rather than a fringe activity, he said. Among others, Mr. S. C. Das, Prof. P. P. Mathur, VC, KIIT, Prof. N. K. Chakraborty, Director, KIIT School of Law and other legal luminaries also spoke on the occasion.