CSR-Urgent

[NeH@ Bi$hNoI]

Dear Friends,

I am a CS in a private limited company. CSR is applicable on our company but directors are not willing to undertake CSR activities.

 Whether there is any penalty on the company or directors or CS for not undertaking CSR activity. What steps should i take to save myself from the penalty if any???

 

 

CS Neha Bishnoi

Spaze Group

Gurgaon

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Thank you

[NeH@ Bi$hNoI]

[Rajesh]

In my opinion the provisions of Section 450 of CA, 2013, would be applicable.  

Give your opinion to the Board in writing and leave the decision to the Board.  That way you can protect yourself.

Rgds,

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[Jayashree Chandrasekaran]

Dear Neha,

Can understand your problems....give all the provisions in writing to the Board and continue to insist on the applicability....more than that i think a CS cannot do anything

Jayashree

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C.JAYASHREE
PROPRIETOR
S.GANESH&ASSOCIATES
CHENNAI
98840 17120

[VIMAL SHARMA Compliance]

A Committee has been been constituted at ministry to look after the companies which are not following CSR provisions. Consequences / penalties will be there once they investigate the matter. 

Thanks & Regards,

Vimal Sharma

Move out of your comfort zone, You can only grow, if you are willing to feel awkward and uncomfortable, when you try something New..

[K. Sankara Subramanian]

Is it possible for the Directors to give reasons for not spending in Board's Report? [S.135 (5) second proviso]

On Tue, Mar 24, 2015 at 11:43 AM, Jayashree Chandrasekaran <jayak...@gmail.com> wrote:

[NeH@ Bi$hNoI]

I don't think directors will have any geniun reasons for not spending

 

 

CS Neha Bishnoi

Spaze Group

Gurgaon

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Thank you

[VIMAL SHARMA Compliance]

If a Company does not spend Rs. 20 out of 100, then I think, it can give reason....in case Co. does not spend anything what justification it can give..

Views of other members solicited 

[jayasri gn]

Hi, 

The auditors may not issue certificate  if CSR activity is not undertaken.

Others please share your opinion.

[Rama Chander]

Dear Mam/Sir,

Namaste.

I have inquired a Chartered Accountant in Practice where I had done my articleship - Brahmayya & Co.

He insisted that the company has to participate in CSR activities and the legal laws are very strict and CA's cant take risk on the Financials.

Since its been a compulsory activity that is to be followed in case of applicability of CSR.

So the clients are drafted a mail by Our CA to perform the activity by this month end since the time is still there to fulfill the provisions relating to CSR activities.

I hope Jayashree Mam has given correct answer, even My Auditor has also said in the same manner.

Neha Mam, You have performed Your duties well and rest let the Board decide and take the decision.

Thanks in Advance

Regards,

Rama Chander Moganty

CA (Final), LLB, MBA, ICWA (Final)

With Best Regards,

RAMA CHANDER MOGANTY

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[NeH@ Bi$hNoI]

Thanks to all...

 

 

CS Neha Bishnoi

Spaze Group

Gurgaon

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[SANDIP NAGARIYA]

  
The provision are based on comply or explain basis, If company does want to activity of CSR than It should be disclosed in the Board's Report reason for non compliance.