CSR, out of the box

The new Companies Act of 2013 stipulates that all companies with a net worth of Rs 500 crore or more, or a turnover of Rs 1,000 crore or more, or a net profit of Rs 5 crore or more in any financial year will have to constitute a corporate social responsibility (CSR) committee of the board. With the help of this committee, the board shall ensure that such a company spends at least two per cent of its net average profit of the last three years on activities that have been designated as CSR activities by the government.

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