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High Level Committee Report on CSR Compliance

News and Press Release - Dated:- 3-5-2016 - A High Level Committee, set up by the Ministry of Corporate Affairs to suggest measures for monitoring the progress of implementation of Corporate Social Responsibility (CSR) policies by companies, submitted its report on 22nd September, 2015. The report, including the recommendations of the Committee, has been placed in the public domain on the Ministry s website (www.mca.gov.in). Major recommendations of the Committee include, inter-alia, the followi .....

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e should be managing the monitoring of their own CSR at their level. Government should have no role to play in engaging external experts in monitoring the quality and efficiency of CSR expenditure of Companies. The unspent balance out of the CSR fund should be allowed to be carried forward with a sunset clause of five years, after which the unspent balance should be transferred to one of the funds listed in Schedule VII. An omnibus clause may be included in Schedule VII of the Act to suggest tha .....

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