In order to operationalize the Companies (Amendment) Act, 2019, the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020 has been drafted for carrying out amendments in the Companies (CSR Policy) Rules, 2014.
”Public comments are therefore hereby solicited on the draft Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020. The draft Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020 may be accessed at the web link mentioned below and comments, if any, may be submitted online therein by end of business hours on 28th March, 2020 positively,” the Ministry said in its notice.
The draft Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020 may be accessed at the web link mentioned below and comments, if any, may be submitted online therein by end of business hours on 28th March, 2020 positively.
The Ministry asked stakeholder not to send comments separately through e-mail or hard copy and should be sent only through the web link created for the purpose.
Corporate Social Responsibility (CSR) for companies has been mandated through Companies Act, 2013 which came into effect since 01.04.2014. Section 135 of the Act enumerates the provisions concerning CSR and the Companies (Corporate Social Responsibility Policy) Rules, 2014 prescribes the rules for implementation.
All these were notified on 27th February, 2014 and came into effect since 1 April, 2014.
The Companies (Amendment) Act, 2019 amended section 135 dealing with Corporate Social Responsibility.
The Companies (Amendment) Act, 2019 received President’s assent and was published in Official Gazette on 31st July, 2019.