LAW & SOCIAL TRANSFORMATION

SYNOPSIS ON

CORPORATE SOCIAL RESPONSIBILITY

Submitted to:

Prof. Tapan R. Mohanty

Submitted by:

Muktesh Swamy

Roll No.- 2018 LLM 33

National Law Institute University

Bhopal, Madhya Pradesh

 THE CORPORATE SOCIAL RESPONSIBILITY

The concept of Corporate Social Responsibility, although a foreign concept in its present guise,
has been the humane aspect of business activity in India in the ancient period. We have examples
of various charitable schools, hospitals and other institutions set up by the wealthy businessmen
in ancient period. This aspect is nothing but a very rudimentary form of Corporate Social
Responsibility, Businessmen using their private wealth to give back to the society which is the
source of their success.
With the development of the legal fiction of a body corporate, the business entity lost a face that
represented a business and among other benefits was one of the obligations of moral kind
towards the society.
With Industrialization running rampant and the evils of Capitalism manifested, the state was
forced to bring back the concept of moral obligations back from dead.
In India the measure started out as a voluntary obligation upon a Company under the Companies
Act but very soon it was given the guise of a compulsory obligation under Section 135 of the
Companies Act 2013.
But in this project we’re more interested in connecting the dots between corporate social
responsibility and Social Transformation essentially how the law on Corporate Social
Responsibility is trying to bring in a transformation within the corporate area of the society.
So this project deals with the concept of CSR, the historical aspect, the rationale behind inclusion
of CSR in Companies Act 2013 and how it fits into the bigger picture of social transformation.

OBJECTIVES

The following are the objectives of the project:

1. To explain the concept of Corporate Social Transformation

2. To chart a connection between CSR as a concept and social transformation
 HYPOTHESIS

The concept of Corporate Social Responsibility which existed previously in the guise of
philanthropy has seen a phased introduction into the corporate regulations first in the form of
voluntary obligation followed by a mandatory obligation to force the corporate bodies into
engaging into looking after the society. Corporate Social Responsibility is being used as a tool of
moral suasion to bring about a change in the society by making the corporate bodies morally
responsible towards the society.

RESEARCH METHODOLOGY

This Project is descriptive, theoretical and doctrinal in nature.

RESEARCH DESIGN

The methodology adopted for the purpose of this project is descriptive. Secondary data has been
used to achieve the objectives of the project.

REVIEW OF LITERATURE

Ever since India passed the Companies Act 2013 and its coming into force the following year,
India became the only country with a legislated CSR policy. India became a role model in this
regard. Corporate Social Responsibility in India (2008) by Sanjay K Agarwal deals with the
concept of Corporate Social Responsibility even at its nascent stage, the author deserves instant
appreciation for bringing out a complete book on CSR covering all the aspects and associated
activities. The book is a good collection and collation, by virtue of its depth, dimension and
erudition. It opens up numerous debates and fresh areas of research-besides being an
enlightening reading.
Corporate Social Responsibility – Emerging Opportunities and Challenges in India (2016) by K.
S. Ravichandran analyses the various aspects and dimensions of CSR as a means for commercial
enterprise to promote/achieve sustainable development. Thematically arranged, the book
examines and explains the philosophy and objectives of CSR emphasizing its social and ethical
base. The book deals with a number of complex issues involved in developing CSR strategies,
policies and decision making.

A Practical Guide to Corporate Social Responsibility Law, Accounting and Taxation Aspects
(2017) by CS Rupanjana De, this book is a compendium of everything related to Corporate
Social Responsibility with a 360 degree approach and is a first of its kind book on the topic. It
digs deep into the legal provisions of CSR under the Companies Act, 2013 and the Companies
(Corporate Social Responsibility Policy) Rules, 2014 and the amendments thereof. Further, it
also discusses CSR compliance from the much lesser known angles of the Central PSUs, the
listed companies and those companies that are in the project stage. All accounting and taxation
aspects have been clarified in this book like never before, thereby, making the provisions of CSR
much easier to grasp and comply with.
 HISTORY OF CORPORATE SOCIAL RESPONSIBILITY

Religious traditions of daan, seva, and zakat operated in India for centuries helping to shape the
relationship between the privileged and the dispossessed. The vast majority of philanthropy in
India has always been to religious institutions and that continues to be the case. The earliest
industrialists of the 19th Century launched the practices of corporate giving via trusts, and
endowed institutions controlled by members of business families.

After the First World War, a new phase of corporate philanthropy arose that drew business
leaders into the political fight for independence. The close relationship between M.K. Gandhi
and leading industrialists is well-known. He proposed a model of trusteeship for business in
which tycoons should understand their position as fiduciaries of society’s wealth.

In the period immediately after Independence, the role of the Indian State expanded greatly and
the corporate sector took a backseat in development efforts. After some time, the failures of the
State to end poverty and support economic growth led to dissatisfaction. The liberalisation of the
Indian economy in 1991 ushered in a new globalised economic environment, with rapid growth
in overall wealth and also in inequality.

The rising gap between the wealthiest Indians and those at the bottom sparked innovation in
efforts by the corporate sector to address social problems. It also led the State to think about
how to pull in more support from the booming business world. In the context of a shrinking
State, a more globalised economy, and great divisions in economic and social worlds, the
landscape of Indian CSR is fascinating.1

Religion also played a major role in promoting the concept of CSR. Islam had a law called
Zakaat, which rules that a portion of one’s earning must be shared with the poor in form of
donations. Merchants belonging to Hindu religion gave alms, got temples and night shelters
made for the poorer class. Hindus followed Dharmada where the manufacturer or seller charged

1
Nandini Deo, A Brief History of Indian CSR, GATEWAY HOUSE, (Jul. 30, 2015),
https://www.gatewayhouse.in/a-brief-history-of-indian-csr/
a specific amount from the purchaser, which was used for charity. The amount was known as
charity amount or Dharmada. In the same fashion, Sikhs followed Daashaant.

Here, we can understand that the history of CSR in India runs parallel to the historical
development of India. CSR has evolved in phases like community engagement, socially
responsible production, and socially responsible employee relations. Therefore, the history of
Corporate Social responsibility in India can be broadly divided into four phases.
 FIRST PHASE OF CSR

The first phase of CSR was driven by noble deeds of philanthropists and charity. It was
influenced by family values, traditions, culture and religion along with industrialization. Till
1850, the wealthy businessmen shared their riches with the society by either setting up temples
or religious institutions. In times of famines, they opened their granaries for the poor and hungry.
The approach towards CSR changed with the arrival of colonial rule in 1850. In the Pre-
independence era, the pioneers or propagators of industrialization also supported the concept of
CSR. In 1900s, the industrialist families like Tatas, Birlas, Modis, Godrej, Bajajs and Singhanias
promoted this concept by setting up charitable foundations, educational and healthcare
institutions, and trusts for community development. It may also be interesting to note that their
efforts for social benefit were also driven by political motives.
 SECOND PHASE OF CSR

The second phase was the period of independence struggle when the industrialists were
pressurized to show their dedication towards the benefit of the society. Mahatma Gandhi urged
to the powerful industrialists to share their wealth for the benefit of underprivileged section of
the society. He gave the concept of trusteeship. This concept of trusteeship helped in the socio-
economic growth of India. Gandhi regarded the Indian companies and industries as “Temples of
Modern India”. He influenced the industrialists and business houses to build trusts for colleges,
research and training institutes. The operations of the trusts were largely in line with Gandhi's
reforms which sought to abolish untouchability, encourage empowerment of women and rural
development.
 THE THIRD PHASE OF CSR

In the third phase from 1960-1980, CSR was influenced by the emergence of Public sector
undertakings to ensure proper distribution of wealth. The policy of industrial licensing, high
taxes and restrictions on the private sector resulted in corporate malpractices. This led to
enactment of legislation regarding corporate governance, labor and environmental issues. During
this period the private sector was forced to take a backseat. The public sector was seen as the
prime mover of development. Because of the stringent legal rules and regulations surrounding
the activities of the private sector, the period was described as an "era of command and control".
Still the PSUs were not very successful. Therefore there was a natural shift of expectation from
the public to the private sector and their active involvement in the socio-economic growth. In
1965, the academicians, politicians and businessmen set up a national workshop on CSR, where
great stress was laid on social accountability and transparency.
 FOURTH STAGE OF CSR

In the fourth phase from 1980 onwards, Indian companies integrated CSR into a sustainable
business strategy. With globalization and economic liberalization in 1990s, and partial
withdrawal of controls and licensing systems there was a boom in the economic growth of the
country. This led to the increased momentum in industrial growth, making it possible for the
companies to contribute more towards social responsibility. What started as charity is now
understood and accepted as responsibility.2

The fourth phase is characterized partly by traditional, but mostly as sustainable business
strategies new and unique ways for upliftment of poor and needy as well as a brand image for
corporations. This rapid growth lead to “the increased profitability also increased business
willingness as well as ability to give, along with a surge in public and government expectations
of businesses”. Against this background, India has become an important economic and political
actor in globalization, which has positively affected the Indian CSR agenda. With more TNCs
resorting to global sourcing, India has become an attractive and important production and
manufacturing base for multinational corporations. As Western consumer markets are becoming
more responsive to labour and environmental standards in developing countries, Indian
companies which export and produce goods for the developed world need to comply with
international standards.3

2
Evolution of CSR in India, SOULACE, (Jun. 28, 2017), http://www.soulace.in/blog/evolution-of-csr-in-india/
3
Anil Ganghas, Various Phases of Corporate Social Responsibility, 3 IJARD 861, 861-863, (2018)
 CSR IN THE CURRENT SCENARIO

India‘s economic reforms and its rise to become an emerging market and global player have not
resulted in a substantial change in its CSR approach. Contrary to various expectations that India
would adopt the global CSR agenda, its present CSR approach still largely retains its own
characteristics, adopting only some aspects 74 of global mainstream CSR. In an empirical study
by Khan and Atkinson (1987), it was found that a large percentage of Indian executives studied
agreed that CSR was relevant to business and felt that business had responsibility not only to the
shareholders and employees but also to customers, suppliers, society and the state.

Today CSR requires strategic intervention due to impact it is expected to create. Increase in CSR
spends and scale has made it even more important for companies to carefully look at CSR plan
and delivery. CSR around the world follows 4 approaches, which could be categories as Link to
Business, Delink from Business, Address nations pressing problems or address the local
community needs. The most popular now in India is Link to Business, which helps companies
integrate CSR as part of its business strategy and present a win-win situation at both ends. This
approach expedites focused social development, creates stronger financial performance and
higher understanding of social & environmental dimensions of a company’s performance. Thus
help build effective partnership, integrate and enrich supply chain, establish a company as
employer of choice and improve relationship with its stakeholders to harness open dialogue with
transparency. Today company’s financial performance has direct effect on its social equity and
this process is more sincere and pragmatic. Companies are building specialized CSR teams to
formulate policies, strategies, goals and budget. Themes and programs are often determined by
values, philosophy and policies of the company. Mere programs of employee’s engagement will
not be enough to fulfill a company’s CSR commitment; it would require regular and structured
interventions.4

The New Companies Act 2013 has also introduced a new Section on Corporate Social
Responsibility (CSR), Section 135, making CSR mandatory for all Companies operating in
India, with an eligible criterion based on their finances. The criterion is simple every company
having net profit or profit before tax (PBT) of Rs 5 crores or more, net worth of Rs 500 crores or

4
Manish Handa, India’s CSR Journey and Scenario today, IIFL, (Oct. 22, 2013)
https://www.indiainfoline.com/article/news/indias-csr-journey-and-scenario-today-5804581706_1.html
more, or turnover of Rs 1,000 crores or more, during any financial year shall constitute a
Corporate Social Responsibility Committee on the Board, consisting of three or more directors,
out of which at least one director shall be an independent director. The rules further say that CSR
is not charity or mere donations. The companies should use CSR to integrate economic,
environmental and social objectives with the company’s operations and its growth. The CSR
committee shall formulate its CSR policy, based on which activities and specific budget would
be allocated. The programmes implemented would be monitored and reported through
company’s website and annual report. 2% CSR spending would be computed as 2% of the
average net profits made by the company during the preceding three financial years.

In India, the Companies Act of 2013 introduced new requirements for corporate social
responsibility (CSR), but didn’t attach any penalty for non-compliance. What are companies
doing in response? Has legally mandated CSR increased corporate giving in India?

In reality, the absence of adequate sanctions undermines the effectiveness of the 2% CSR
requirement of the Act. Companies that have undertaken CSR programmes long before the Act
was passed will continue to do so regardless of legislation, and companies that choose to not
engage in CSR will, facing no sanctions, simply not comply.

The lack of effective punishment for companies that fail to meet the 2% slab is the most notable
barrier to the success of the Companies Act in increasing CSR spending in India.

However, the Act does include other strictures—for example, all companies are required to have
a CSR board, policy, and reporting procedure, and can face government-imposed sanctions such
as fines for failing to comply, or even imprisonment for non-disclosure. But if the companies do
not spend the required 2% on CSR, they are merely asked to explain it to their shareholders and
on their website.

In such a context, many companies that choose to bypass CSR requirements have no reason to
comply. Various solutions have been proposed to address this gap: for example, the government
can introduce a “show-or-shame policy” whereby companies must show their CSR activities or
face opprobrium. Eventually, this “shame” might compel companies to comply with all aspects
of the law.
India though is among few countries in the world where it is mandatory for businesses to engage
in CSR. In the United States, tax deductions are available to encourage corporate giving, but
companies are free to choose the amount and the organisation through which to funnel their
donations.

Companies voluntarily participate in CSR for various reasons: for example, it creates good
human resources—people want to work with companies that are CSR complaint, it gives them a
sense of pride. Mandating corporate philanthropy is therefore perhaps no more effective than
allowing it to be voluntary.

Some lawyers, such as Anshul Jain, partner at Luthra and Luthra Law Offices, see the Indian
Companies Act as an “alternative tax, which is being levied on corporations.” The Indian
government has cut back its own spending on social welfare programmes and compelled
businesses and NGOs to fill this vacuum.5

5
Why a CSR Act minus sanctions won’t work, GATEWAY HOUSE, (Oct. 27, 2015),
http://www.luthra.com/admin/article_images/Gateway%20House%20Why.pdf
 SCHEME UNDER COMPANIES ACT 2013

According to section 135 of the Companies Act, 2013 below mentioned companies shall
constitute a corporate social responsibility committee of the board:

1. Having net worth of rupees five hundred crores or more; or

2. Turnover of rupees one thousand crores or more; or
3. A net profit of rupees five crores or more;

It is applicable to every company including its holding company, subsidiary company, foreign
company including its branch office or project office in India.

Any company which ceases to be a company covered as per criteria mentioned under sub-section
(1) of section 135 of the Companies Act, 2013 as mentioned above for three consecutive
financial years shall not be required to –

 Constitute a CSR committee, and

 Comply with the provisions contained in sub-section (2) to (5) of the Companies Act,
2013 till such time it meets the criteria specified in sub-section (1) of section 135.

Corporate Social Responsibility Committee shall consist of three or more directors, out of which
at least one director shall be an independent director, in case of companies where independent
director is mandatory to appoint.

Private company with only two directors

In the case of private companies where only two directors are required to be appointed above
requirement can be disposed of and they need not appoint an independent director.

Constitution of CSR committee in case of foreign company

In case of foreign companies, Corporate Social Responsibility Committee shall comprise of at

least two persons of which one person shall be residing in India and appointed as authorized
signatory by the foreign company.
The Corporate Social Responsibility committee shall institute a transparent monitoring
mechanism for implementation of the projects or programs or activities undertaken by the
company.

Function to be performed by CSR committee of any company:

1. They shall formulate and recommend to the board of directors of the company, a
Corporate Social Responsibility policy which shall indicate the activities to be
undertaken by the company as specified and it shall be within the purview of Schedule
VII of the Companies Act, 2013;

2. They shall recommend the amount of expenditure to be incurred on the activities referred
to them and;

3. They shall monitor the Corporate Social Responsibility policy of the company as may be
required from time to time.

Functions of the board of directors of the company

The board of directors of the company performs the following functions in relation to Corporate
Social Responsibility:

1. They shall after taking into account the recommendations made by the Corporate Social
Responsibility Committee, approve the Corporate Social Responsibility policy for the
company.

2. They shall disclose the contents of Corporate Social Responsibility policy in the board of
director’s report which forms the part of an annual report of the company.

3. They shall take care that Corporate Social Responsibility policy of the company shall be
placed on the website of the company if any and also it shall be updated on the website of
the company as and when any changes are made.
 4. They shall ensure that the activities which are included in Corporate Social
Responsibility policy of the company are undertaken by the company and not only exist
on paper.

Quantum of CSR expenditure:

 Every company which triggers the limits of section 135 shall spend in every financial
year, at least two percent of the average net profits of the company made during the three
immediately preceding financial years.

 Average net profits of the company shall be calculated as per the provisions of section
198 of the Companies Act, 2013.

 If the company fails to spend the amount earmarked as CSR expenditure then the
company needs to explain the reason behind not spending in the board of directors report.

 Till now no penalty had been prescribed under the Companies Act, 2013 and rules made
thereunder regarding non-compliance of section 134 or for not spending the prescribed
amount..

 Provided that net worth, turnover or net profit of a foreign company of the Act shall be
computed in accordance with balance sheet and. Profit and loss account of such company
prepared in accordance with the provisions of clause (a) of sub-section (1) of Section
381and Section 198 of the act.

CSR activities

 Every company shall give preference to the local areas and areas where they operate for
spending the amount earmarked for Corporate Social Responsibility activities.

 The CSR activities shall be undertaken by the company, as per its CSR policy, as projects
or programs or activities (either new or ongoing), excluding activities undertaken in
pursuance of its normal course of business.
The board of directors of the company may decide to undertake its CSR activities approved by
the CSR committee of the company by any of the below-mentioned ways:

1. Through a registered trust or;

2. A registered society or a section 8 company established under Companies Act, 2013

either singly or along with its holding or subsidiary or associate company, or along with
any other company or holding or subsidiary or associate company of such other
company;

i) But if such trust, society or company is not established by the company, either singly
or along with its holding or subsidiary or associate company, or along with any other
company, or holding or subsidiary or associate company of such other company
it shall have an established track record of three years in undertaking similar
programs or projects.
ii) Every company has to specify the projects or programs to be undertaken through any
of the above-mentioned entities, the modalities of utilization of funds on such projects
and programs and the monitoring and reporting mechanism.
iii) Every company may also collaborate with other companies for undertaking projects
or programs or Corporate Social Responsibility activities in such a manner that the
CSR committees of the companies are in a position to report separately on such
projects or programs.
iv) According to sub-section (5) of Section 135 of the Act, the Corporate Social
Responsibility projects or programs or activities undertaken in India only shall
amount to Corporate Social Responsibility expenditure.
v) The Corporate Social Responsibility projects or programs or activities shall not
benefit only the employees of the company and their families shall not be considered
as Corporate Social Responsibility activities. It means that employees can form part
of the project or program or activities but any project or program of activity cannot be
exclusively held for the benefit of employees and its families.
vi) Any company may build CSR capacities of their own personnel as well as those of
their implementing agencies through institutions with established track records of at
least three financial years but such expenditure including expenditure on
 administrative overheads shall not exceed five percent of total corporate social
responsibility expenditure of the company in one financial year.
vii) If any company contributes any amount directly or indirectly to any political party
then it shall not be considered as Corporate Social Responsibility activity.

CSR policy

Every company shall form the CSR policy of the company and it shall include the following
things in it namely:-

 A list of CSR projects or programs which a company plans to undertake falling within the
purview of the schedule VII of the Companies Act, 2013 specifying modalities of
execution of projects or programs and implementation schedules for the projects or
programs; and

 Monitoring process of projects or programs,

 The CSR activities or projects or programs shall not include the activities undertaken by
the company in pursuance of its normal course of business.

 The board of directors of the company shall ensure that activities or projects or programs
included by a company in its Corporate Social Responsibility policy are related to the
activities included in schedule vii of the Companies Act, 2013.

 The CSR policy of the company shall clearly specify that any surplus arising out of the
CSR projects or programs or activities shall not form part of the business profit of a
company.

Core elements of the CSR policy shall include the following:

 Care for all stakeholders

 Ethical functioning

 Respect for workers’ rights and welfare

  Respect for human rights

 Respect for environment

 Activities for social and inclusive development

Corporate Social Responsibility expenditure

Corporate Social Responsibility expenditure shall include all expenditure including contribution
to corpus, or on projects or programs relating to CSR activities approved by the board of
directors of company on the recommendation of its Corporate Social Responsibility committee,
but it shall not include any expenditure on an item not in conformity or not in line with activities
or programs or projects which fall within the purview of Schedule VII of the Companies Act,
2013.

Yearly annual compliances/disclosure

The board report shall include an annual report on CSR in the format as prescribed in the
Companies (Corporate Social Responsibility Policy) Rules, 2014, which contains particulars as
mentioned under.

1. A brief outline of the company’s Corporate Social Responsibility Committee policy,

including an overview of projects or programs or activities, proposed to be undertaken
and a reference to the web-link to the CSR policy and projects or programs or activities.

2. The composition of CSR committee.

3. Average net profit of the company for last three financial years.

4. Prescribed CSR expenditure for the financial year.

5. Details of CSR spent during the financial year:

6. Total amount to be spent for the financial year;

 7. Amount unspent, if any;

8. CSR project or program or activity identified by the company;

9. Sector in which the project or program or activity is covered;

10. Name of state in which project or program or activity is undertaken whether it is local
area or other areas;

11. Budget project or program or activity wise;

12. Direct and indirect expenditure on projects or programs or activities;

13. Cumulative expenditure upto the reporting period. For companies carrying projects or
programs or activities for a period of more than one year or more cumulative expenditure
needs to be mentioned upto the reporting period.

14. Whether the amount is spent directly or through any implementing agency or through
collaboration with any other company.

The company which has failed to spend 02% of the average net profits of the company of the last
three financial years they need to disclose the reason for not spending such amount.

It shall also contain the responsibility statement of the CSR committee that the implementation
of CSR policy is in compliance with CSR objectives CSR policy of the company.

It shall be signed by the chairman of the CSR committee, chief executive officer or managing
director of any director of the company. In case of foreign company, it shall be signed by the
authorized representative of the company.

Tax benefits

 No specific tax exemptions have been extended to CSR expenditure per se. While no
specific tax exemption has been extended to expenditure incurred on CSR, spending on
several activities like contributions to Prime Minister’s Relief Fund, scientific research,
rural development projects, skill development projects, agricultural extension projects,
 etc. Which find place in Schedule VII, already enjoy exemptions under different sections
of the income tax act, 1961.

Schedule VII of the Companies Act, 2013

Following are the activities or programs or projects which may be included by the companies in
their Corporate Social Responsibility policies relating to:—

1. Eradicating hunger, poverty, and malnutrition, promoting health care including

preventive health care and sanitation including contribution to the Swach Bharat
Kosh set-up by the central government for the promotion of sanitation and making
available safe drinking water;

2. Promoting education, including special education and employment enhancing vocation

skills especially among children, women, elderly and the differently abled and livelihood
enhancement projects;

3. Promoting gender equality, empowering women, setting up homes and hostels for women
and orphans; setting up old age homes, day care centers and such other facilities for
senior citizens and measures for reducing inequalities faced by socially and economically
backward groups;

4. Ensuring environmental sustainability, ecological balance, protection of flora and fauna,

animal welfare, agro forestry, conservation of natural resources and maintaining quality
of soil, air, and water including contribution to the clean Ganga fund set-up by the central
government for rejuvenation of river Ganga;

5. Protection of national heritage, art, and culture including restoration of buildings and sites
of historical importance and works of art; Setting up public libraries; Promotion and
development of traditional art and handicrafts;

6. Measures for the benefit of armed forces veterans, war widows, and their dependents;

7. Training to promote rural sports, nationally recognised sports, Paralympic sports and
Olympic sports;
8. Contribution to the Prime Minister’s National Relief Fund or any other fund set up by the
central government for socio-economic development and relief and welfare of the
schedule caste, tribes, other backward classes, minorities, and women;

9. Contributions or funds provided to technology incubators located within academic

institutions which are approved by the central government;

10. Rural development projects;

11. Slum area development.

 CONCLUSION

As can be seen by the matter presented in this project, Corporate Social Responsibility of CSR
for short began its life in a different guise and under a different name. Having its base in
philanthropy, CSR is pretty much the same concept as earlier but the rationale behind has
changed. While it was completely voluntary previously, today in its current guise it has become a
voluntary obligation under the Companies Act 2013. But the fact that not complying with the
section does not entail any penalty means in reality it can be dispensed with. It’ll be safe to say
that it’s toothless provision. However inclusion in the Companies Act has had the effect of using
CSR as a tool to morally mould the Companies into undertaking activities for the benefit of the
society. CSR activities also allow the Companies to project them for their advertisement
purposes and add to their goodwill. A scenario that in the future date, CSR could be made into a
stringent provision is also not refutable.
 BIBLIOGRAPHY

1. De Rupanjana, (2017), A Practical Guide to Corporate Social Responsibility Law,

Accounting and Taxation Aspects, Bloomsbury India

2. Ravichandran K.S., (2016), Corporate Social Responsibility – Emerging Opportunities

and Challenges in India, First Edition, Lexis Nexis Publication

3. Agarwal S.K., (2008), Corporate Social Responsibility, First Edition, Sage Response
Publications

4. https://www.pwc.in/assets/pdfs/publications/2013/handbook-on-corporate-social-
responsibility-in-india.pdf

5. https://yourstory.com/2018/03/9-emerging-trends-from-india-incs-csr-activities-in-2017/

6. http://www.mondaq.com/india/x/366528/Corporate+Governance/Corporate+Social+Resp
onsibility+Indian+Companies+Act+2013