Voluntary compulsory

If it wasn’t bad enough that the new Companies Bill makes it mandatory for companies to allocate and spend 2% of their average profits for the last three years on corporate social responsibility (CSR), the new corporate affairs minister Sachin Pilot plans to make this even more stringent. According to a news report in FE on Monday, Pilot plans to set up a national level SPV—where, say, industry bodies like Ficci and CII can have a stake—where all the funds will be deposited.

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