New Delhi – The government has sanctioned prosecution in 366 cases for non-compliance with Corporate Social Responsibility (CSR) norms under the Companies Act, 2013 during the 2014-15 period.
In 2014-15, as many as 16,785 companies shelled out Rs 10,065.93 towards CSR activities.
“So far, sanction for prosecution has been accorded in 366 cases for FY 2014-15 and 5,382 call for information notices have been issued in FY 2015-16. “All CSR-related offences are compoundable. So far, 60 applications for compounding have been received,” Corporate Affairs Minister Nirmala Sitharaman said in a written reply.
In 2017-18, as many as 3,117 companies spent Rs 8,365.35 crore towards CSR activities, as per data up to October 20, 2018.
“Given that the obligation under the CSR provisions has been in existence from FY 2014-15 only, there has been considerable progress both in terms of number of companies contributingto CSR and overall CSR spent,” Sitharaman said in the written reply.