India CSR Network
No Result
View All Result
  • Login
  • Register
SUBSCRIBE
  • Home
  • CSR
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Environment
    • Education
    • Gender Equality
    • Health
    • Skill Development
    • No Poverty
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Articles
  • Interviews
  • Events
  • BOOKS
  • More
    • Technology
    • Lifestyle
    • Case Studies
    • Knowledge
    • Social Sector Leaders
    • Social Entrepreneurship
    • Philanthropy
    • Sports
    • Gaming
  • Prime
  • Home
  • CSR
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Environment
    • Education
    • Gender Equality
    • Health
    • Skill Development
    • No Poverty
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Articles
  • Interviews
  • Events
  • BOOKS
  • More
    • Technology
    • Lifestyle
    • Case Studies
    • Knowledge
    • Social Sector Leaders
    • Social Entrepreneurship
    • Philanthropy
    • Sports
    • Gaming
  • Prime
  • Login
  • Register
No Result
View All Result
India CSR Network
No Result
View All Result
Home More

India Inc Needs More Clarity on ‘Companies Bill 2012’

by India CSR Network
9 years ago
in More

INDIACSR News Network

MUMBAI: The industry captains while discussing the new Companies Bill 2012 have raised many observations on grounds of insufficient clarity of the Bill. During a Conference on the discussion on ‘Companies Bill 2012’ organised by Confederation of Indian Industry (CII), India Inc stated in one voice that the actual draft of rules and regulations which would be based on the Companies Bill will actually give a perspective on what kind of impact it would make on the functioning of the businesses.

CII LogoMr. Nawshir Mirza, Independent Director, Tata Power Limited, said, “The Bill has been passed in the Lok Sabha and is waiting for the nod of Rajya Sabha. About 300 rules and regulations would have to be formed to give actual shape to the Bill. The proposed policy is an outline on the basis of which it would have to be equipped with the effective rules. Once, in the place it would give the India Inc a fair amount of understanding as in what operational and financial changes they ought to make to adhere by the policies.”

Giving an overview of the existing practice over the Bill’s prescription, Mr. Chaitanya Kalia, Partner, Advisory Services, Ernst & Young, said, “About 3000 companies in India are engaged into the Corporate Social Responsibility (CSR) related activities. As per the Companies Bill 2012, the companies will have to disclose the amounts and details of activities on which they have been spent under CSR. The companies engaged into CSR have spent an average of 2 per cent of profits in last three years. About Rs 9,000 crore would be the amount spent on the CSR following implementation of the proposed Companies Bill.”

He added that the Bill will also categorise the mandate on activities which can be classified as the CSR. “Activities towards promoting education, poverty alleviation, gender equality, HIV-AIDS etc. will be at the core of CSR practices as suggested in the Companies Bill,” Mr. Kalia said.

Whereas, Mr. Amrish Shah, Transaction Tax Leader, Ernst & Young, while speaking on the ‘Merger & Acquisitions and Tax Related Implications’ said, “Under the new Companies Bill, the limit of maximum number of members in a private limited company would be increased to 200 from 50. This will improve the private companies’ fund raising capacity and encourage the entrepreneurship. Buyback of shares will be allowed once a year under specific categories and Indian companies will also be allowed to merge with the foreign companies.”

An eminent panel of industry experts too discussed the various details of the Bill and how Industry will be impacted as soon as it is passed by the Rajya Sabha. The panellists included Mr Bharat Vasani ,Chief Legal & Group General Counsel, Tata Sons Ltd; Mr Suhail Nathani Partner, Economic Laws Practice; Mr R N Mukhija, Advisor to the Chairman, Ex President (Operations) & Member of the Board, Larsen & Toubro Ltd and Mr Pramod Gupta, Country Chief Financial Officer, Novartis India Ltd.  Over 150 participants from Industry participated in the Seminar which was well received.

(www.indiacsr.in)

CSRBooks.com CSRBooks.com CSRBooks.com
ShareTweetPin

India CSR Network

India CSR is the largest tech-led platform for information on CSR and sustainability in India offering diverse content across multisectoral issues. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting. To enjoy the premium content, we invite you to subscribe it.

Related Posts

Union Budget 2022: Tax Rebates in Budget for Realty Vital for Salaried Class
More

Union Budget 2022: Tax Rebates in Budget for Realty Vital for Salaried Class

January 19, 2022
India’s Veteran journalist Vinod Dua passes away
More

India’s Veteran journalist Vinod Dua passes away

December 5, 2021
Meet a NGO Leader who digs up dirt to set right system
More

Meet a NGO Leader who digs up dirt to set right system

August 10, 2021
More

Republic or Democratic?

January 22, 2021
Brand Identity of India CSR Network
CSR

Nomination invited for India CSR Professional of the Year Awards

August 4, 2021
More

Value of Books in Life

August 4, 2021
More

Google generates its 83% of revenues from the display of ads

August 4, 2021
More

Reliance Foundation Hospital rewarding medical staff with extra pay

August 4, 2021
CSR

Covid-19: ITC’s Paperboards and Specialty Paper Business lend its support to the needy in Telangana

August 4, 2021

Discussion about this post

Popular Stories

  • Lupin Terminates 300 Staff

    Lupin Terminates 300 Staff

    0 shares
    Share 0 Tweet 0
  • What is liberalization?

    0 shares
    Share 0 Tweet 0
  • 7 Reasons Why Smartphone Can Make Your Life Easier

    0 shares
    Share 0 Tweet 0
  • QNET CSR Arm Supports Electrification Project to light up the lives of 470 villagers in Meghalaya

    0 shares
    Share 0 Tweet 0
  • MCA amends Schedule III of Companies Act on disclosure norms in financial statements and Details of Corporate Social Responsibility (CSR)

    0 shares
    Share 0 Tweet 0
India CSR Network

  • Home
  • About Us
  • Team
  • Partnership
  • Contact
  • Terms of Use
  • Subscribe

No Result
View All Result
  • Home
  • CSR
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Environment
    • Education
    • Gender Equality
    • Health
    • Skill Development
    • No Poverty
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Articles
  • Interviews
  • Events
  • BOOKS
  • More
    • Technology
    • Lifestyle
    • Case Studies
    • Knowledge
    • Social Sector Leaders
    • Social Entrepreneurship
    • Philanthropy
    • Sports
    • Gaming
  • Prime
  • Login
  • Sign Up
  • Cart

Welcome Back!

Sign In with Facebook
Sign In with Google
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Google
Sign Up with Linked In
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In