Khushi Soi & Umme Hani Ali, Symbiosis Law School, Nagpur
ABSTRACT
Corporate Social Responsibility is a crucial aspect that emphasizes on a corporate’s responsibility towards the society and environment in which it operates. In India, the practice of CSR dates back to the ancient times. With the passage of time, it has evolved from voluntary to mandatory with the introduction of the Companies Act in 2013. In this paper, combined with the provisions and Schedule VII of the Companies Act, 2013 as well as the Companies (CSR Policy) Rules, 2014 an extensive attempt has been made to examine the legal framework with a critical analysis of the provisions that mandate the companies to undertake social initiatives followed by its impacts on Indian companies. The paper further plays a role in identifying the anomalies and difficulties with respect to these provisions followed by observations that seek additional assistance of the government for the same. The trajectory of the paper starts with an introduction as to what construes CSR followed by the background and provisional backing of the same. It further lays down the impacts along with the observations as to the intricacies within the provisions leading to a conclusion for the same.
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