CSR Ongoing Project

[Dwarka Nath]

Dear All 

Can the Company consider Food for Poor as ongoing project under item no 1 of Schedule VII of Companies Act under the head "Eradication of Hunger, Poverty and Malnutrition" 

The Company proposes to transfer unspent amount to Unspent CSR Account for the purpose.

Regards,

Dwarkanath
Mobile +91 8800444082

[Diksha Dubey]

Food for Poor can be classified as an ongoing project only if:

• It is not a one-time food distribution drive, but

• A continuous program (e.g., daily/weekly feeding program, nutrition scheme, community kitchen, etc.)

• Backed by a project plan (duration, budget, beneficiaries, monitoring mechanism)

If it is a valid ongoing project, then:

• The unspent CSR amount can be transferred to the Unspent CSR Account within 30 days from the end of the financial year

• The amount must be utilized within 3 financial years

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[Dwarka Nath]

Thanks 🙏 

Regards,

Dwarkanath
Mobile +91 8800444082

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