INTRODUCTION:

In recent years, an increasing number of companies world wide have started prompting their corporate social responsibility strategies in response to greater pressure from customers, the public and their investors, who expect them to act sustainable as well as responsibly. The basic objectives of Corporate Social Responsibility in these days are to maximize the company’s overall impact on the society and stakeholders. Corporate Social Responsibility policies, practice and programs are being comprehensively integrated by an increasing number of companies throughout their business operations and process. A growing number of corporate feel that corporate social responsibility is not just another from indirect expenses but is important for protecting the goodwill and reputation, defending attacks and increasing business competitiveness. Company have specialized Corporate Social Responsibility teams that formulate policies, strategies and goals for their Corporate Social Responsibility programmes and set a side budgets to fund them. These programmes are often determined by social philosophy which have clear objectives and are well defined and are aligned with the mainstream business. The programmes put into practice by the employees who are crucial to this process. Corporate Social Programmes range from community development to development in education, environment, health and women empowerment etc with the importance of Corporate Social Responsibility as discussed and understood above, it becomes highly relevant to ensure that there are statutory low governing the c Corporate Social Responsibility initiatives. The only intention behind enacting pro- Corporate Social Responsibility legislation is to make these initiatives under a statutory / legal status where by it obligates every person to own up on the task of Corporate Governance and Social Responsibility. In India, there are basic laws mandating and promoting Corporate Social Responsibility initiatives that are regulated under specific legislations.

Review of Literature:

· Shrivastava (1995) in his research article state that industrial and environmental crises pose major threats to human survival. These crises are rooted in corporate activities, products and production systems. For corporation to meaningfully respond to such crises, we need a more adequate conception of Corporate Social Responsibility (CSR)

· Baron (2001) proposed in his article, regarding the use of CSR to attract socially responsible consumers is referred to as strategic CSR, in the sense that firms provide a public good in conjunction with their marketing strategy.

· Blowfield, M (2005) found a critical approach to CSR not only requires us to ask how CSR affects company behavior in developing countries, but also to ask if, and how, business is affecting the meaning of development itself. The author argues in this article that business is indeed affecting development, and one of the ways this happens is by allowing business thinking to dominate the way we view the world and to become the norm against which everything else is tested for true and false value.

· Chaudhary and Wang (2007) found that the number of companies with disclosures on internet is noticeably low in India in top information Technology companies. Though the study did not attested the lack of CSR activities but it certainly attested lack of proactive CSR communication, simply put the companies carried out CSR activities but did not disclose them properly.

· Francesco etal (2008) said that the companies use different strategies as well as diverse management system and tools to address Corporate Social Responsibility (CSR) issues along their supply chains (SCs).

· Ball Kim (2008) proposed a shift in view from Corporate Social Responsibility to Corporate Social Performance (CSP) as a means to assess CSR policies and practices. A harmful product category was chosen to illustrate how corporate social performance using a consumer’s point of view can be assessed.

· Bibri Mohamed (2008) explored the current practices in corporate sustainability towards CSR communications was performed through a pertinent empirical and theoretical literature review as well as a quantitative and qualitative empirical method using a survey questionnaire. The author attempted, in the same way to illustrate how corporate sustainability / CSR communication can strengthen corporate reputation and directly enhance financial performance.

· Jones Brian (2009) explored and explained Corporate Social Responsibility (CSR) as a theoretical construct that has implications and consequences for corporate governance in particular, and more generally for the economy, business and society.

· Jose Rigoberto (2009) developed an analytical model for appraising and measuring Corporate Social Responsibility (CSR). The theoretical and conceptual grounds that sustain the model are based on previous approaches.

· Plankenet al (2010) investigated CSR platforms and the communication surrounding those platforms in India and established that the CSR platforms are typically used, together with stakeholder attitudes to both the form and content of those platforms. The authors presented the fact that the selected Indian corporations pursued a primarily philanthropic platform with a focus on community development projects, as predicted by previous studies. It also indicated, however, that Indian consumers may not value Philanthropic CSR as highly as other CSR initiatives.

The European Commission’s defines Corporate Social Responsibility (CSR) as a approach where by companies incorporate the social and environmental involvement in their business executions and in their communication with their stakeholders on a voluntary basis. The social responsibilities of business encircle the economic, legal, ethical and discretionary expectations that society has or organizations at a given point of time.

According to CSR Asia, CSR is a company’s commitment to operating in an economically, socially and environmentally sustainable manner whilst balancing the interests of diverse stakeholders. European Union (EU), describes CSR as the approach that an organization is accountable for its effect on all important stakeholders. It is the enduring commitment by business entity to behave fairly and responsibly, and devote to economic development while developing the quality of life of the workforce and their families as well as of the local association and society at large.

The World Economic Forum identifies the concerns for responsible business as follows:

To do business in manner that obeys that the law, products safe and cost-effective products and services, creates jobs and wealth, supports training and technology cooperation and reflects international standards and values in areas such as the environment, ethics, labour and human rights. To make every effort to enhance the positive multipliers of our activities and to minimize any negative impacts on people and the environment, everywhere we invest and operate. A key element of this recognizing that the frameworks we adopt for being a responsible business must move beyond philanthropy and be integrated into core business strategy and practice.

Given these definitions, CSR appears to be a managing element that starts at the company level by its performance in a socially responsible manner, where the trade-offs between the needs and requirements of different stakeholders are balanced and acceptable to all. In a recent publication, rather than giving any conclusive definition of CSR, the Australian Parliamentary Joint Committee on Co-operations and Financial Services examined the concept of CSR from the following standpoints: (a) considering, managing and balancing the economic, social and environmental impacts of companies’ activities; (b) assessing and managing risks, pursuing opportunities and creating corporate value beyond the traditional core business; and (c) taking an ‘enlightened self-interest’ approach to consider the legitimate interests of the stakeholders in Corporate Governance.

All of the definitions outlined above confirmed that there is no conclusive definition of CSR and that it can have different meanings to different people and different organizations as an ever-growing, multifaceted concept. Nevertheless, it may be said that the concept of CSR is consistent and converges on certain common characteristics and elements. More precisely, if CSR as defined above is examined from a practical and operational point of view, it converges on two points. CSR requires companies (a) to consider the social, environmental and economic impacts of their operations and (b) to be responsive to the needs and expectations of their stakeholders. These two points are also embedded in the meaning of the three words (i.e. ‘Corporate’, ‘Social’ and ‘Responsibility’) of the phrase ‘corporate social responsibility’. The word ‘corporate’ generally denotes business operations, ‘social’ covers all the stakeholders of business operations and the word ‘responsibility’ generally refers to the relationship between business corporations and the societies within which they act together.

Corporate Social Responsibility in India:

Corporate Social Responsibility is being treated as a important aspect for carrying on business in the society rather than as a charity. While CSR is significant in business for all societies, it is particularly suitable for developing countries like India, where limited resources for meeting the ever growing aspirations and diversity of a pluralistic society, make the process of sustainable development more challenging. CSR interventions based on commitment, mobilization of employees–voluntarism, innovative approaches, appropriate technology and continuing partnership have been creating lasting differences in the life of the disadvantaged. Further, synergy of corporate deals with the government and the civil society are forming the CSR interventions more effective and faciliting the corporate carrying on the business society.

OBJECTIVE OF THE STUDY:

· To study the reasons of why has Corporate Social Responsibility needed?

· To study the basic laws mandating and promoting Corporate Social Responsibility.

· To study the preference of areas for Corporate Social Responsibility expenditure.

· To study the Limitation of the Corporate Social Responsibility under Section 135 of Companies Act, 2013.

RESEARCH METHODOLOGY:

For the present study, the data have been collected from mainly secondary sources. The relevant data have been collected from publication articles especially highlights the Legal Frame work, guidelines and implementation of Corporate Social Responsibility in India, the relevant Law Books, Journals, Newspapers and web-sites are used in this study.

Reasons of why has Corporate Social Responsibility gained value?

Many factors and influences have led to increasing attention being devoted to the role of companies in Corporate Social Responsibility. These include:

Sustainable Development:

Human kind is using natural resources at a faster rate than they are being replaced. In this sense, much of current development is unsustainable.

Corporate Social Responsibility is an entry point for understanding sustainable development issues and responding to them in a firm’s business strategy.

Globalization:

With its attendant focus on cross-border trade, multinational enterprises and global supply chains economic globalization is increasingly rising Corporate Social Responsibility concerns related to human resource management practices, environmental protection, health and safety, among other things.

Corporate Social Responsibility can play a vital role in detecting how business impacts labour conditions, local communities, and economics and what steps can be taken to ensure business helps to maintain and build the public good.

Governance:

Governments and Inter-Governmental Bodies have developed Global Compact, Declarations, Guidelines, Principles and other instruments that outline norms for what the consider to be acceptable business conduct.

Corporate Social Responsibility instruments often reflect internationally agreed goals and laws regarding human rights, the environment and anticorruption.

Corporate Sector Impact:

The sheer size and number of Corporations and their potential to impact political, social and environmental systems relative to governments and civil society, raise questions about influence and accountability.

Companies are global ambassadors of change and values. How they behave is becoming a matter of increasing interest and importance.

Communications:

Advances in communication technology, are making it easier to track and discuss corporate activities. Internally, this can facilitate management, reporting and change.

In the Corporate Social Responsibility context, modern communication technology offers opportunities to improve dialogue and partnership.

Finance:

Consumers and investors are showing increasing interest in supporting responsible business practices and are demanding more information on how companies are addressing risks and opportunities related to social and environmental issues.

A sound Corporate Social Responsibilities approach can help build share value, lower the cost of capital and ensure better responsiveness to markets.\

Ethics:

A number of serious and high-profile breaches of Corporate ethics resulting in damage to employees, share holders, communities or the environment – as well as share price have contributed to elevated public mistrust of corporations.

A Corporate Social Responsibilities approach can help improve corporate governance, transparency, accountability and ethical conduct.

Consistency and community:

Citizens in many countries are making it clear that corporations should meet the same high standards of social and environmental care, no matter where they operate.

In the Corporate Social Responsibilities context, firms can help build a sense of community and shared approach to common problems.

Leadership:

There is increasing awareness of the limits of government, legislative and regulatory initiatives to effectively capture all the issues that Corporate Social Responsibilities address.

Corporate Social Responsibilities can offer the flexibility and incentive for firms to act in advance of regulations, or in areas where regulations seem unlikely.

Business Tool:

Business are recognizing that adopting an effective approach to Corporate Social Responsibility can reduce the risk of business disruptions open up new opportunities, drive innovation, enhance brand and company reputation and even improve efficiency.

Corporate Social Responsibility can offer avenues for social business to grow and create market opportunities for the bottom of the pyramid.

Companies Act, 1956 and Corporate Social Responsibility:

Prior to coming into exi9stence of new Companies Act, many companies have been spending monies in a limited way on Corporate Social Responsibility activities by contributing to Trusts / Charitable Organizations which run for the good of the society. Companies have been using Section 293 (1) (e) of the old Act, 1956 so far for making contributions for charitable activities.

Companies Act, 2013 and Corporate Social Responsibilities:

Section 135 of the New Act deals with mandatory Corporate Social Responsibility provisions. This section will come into force with effect from 01.04.2013 as [er notification dated 27^th February 2014 issued by the central government. Draft Corporate Social Responsibility Rules have been displayed for comments from public, professional bodies such as IACI, ICSI and ICWA. After considering the suggestions from various quarters, these rules have been published by notification dated 27^th February, 2014 to come into force from Dt. 01.04.2014.

The companies Act 2013 have a separate Section – 135 on Corporate Social Responsibility. The Section mandates are as follows:

(1) Every company having net worth of Rupees 500 crore or more, or turnover of Rupees 1,000 crore or more, or a net profit of Rupees 5 crore or more during financial year shall constitute a Corporate Social Responsibility committee of the Board consisting of three or more directors, out of which at least one director shall be an independent director.

(2) The Board’s report under sub-section (3) of Section 134 shall disclose the Composition of the Corporate Social Responsibility Committee.

(3) The Corporate Social Responsibility Committee shall:

(a) Formulate and recommended to the Board, a Corporate Social Responsibility policy which shall indicate the activities to be undertaken by the company as specified in Schedule-VII.

(b) recommended the amount of expenditure to be incurred on the activities referred to in Clause (a); and

(4) The Board of every company referred to in sub-section (1) shall–

(a) after taking into account the recommendations made by the Corporate Social Responsibility Committee, approve the Corporate Social Responsibility policy for the company and disclose contents of such policy in its report and also place it on the Company’s website, if any, in such manner as may be prescribed and

(b) Ensure that the activities as are included in Corporate Social Responsibility policy of the company are undertaken by the company.

(5) The Board of every company referred to in sub-section (1), shall ensure that the Company spends, in every financial year, at least two percent, of the average net profits of the Company made during the three immediately preceding financial years, in pursuance of the Corporate Social Responsibility policy Section 135 (5).

Provided that the company shall give preference to the local area and areas around it where it operates, for spending the amount earmarked for Corporate Social Responsibility activities. Provided further that if the company fails to spend such amount, the Board shall in its report made under clause (0) of subsection (3) of section 134, specify the reasons for not spending the amount. For the purposes of this section “average net profit” shall be calculated in accordance with the provisions of Section 198. As per Section 198 – Net Profit before Tax.

Categories under Schedule –VII of Companies Act – 2013:

As per the amended schedule – VII of Companies Act-2013, the following activities may qualify as Corporate Social Responsibility (CSR).

Health Care:

Eradicating hunger, poverty and malnutrition, promoting healthcare including preventive health care and sanitation and making available safe drinking water.

Education and Skill Development:

Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and live hood enhancement projects.

Gender Equality and Empowerment:

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

Environment:

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.

National Heritage:

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.

Armed Forces:

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

Sports:

Training to promote rural sports, nationally recognized sports, paralympic sports and Olympic sports.

Relief Fund:

Contribution to the Prime Minister Relief Fund or any other Central fund set up by the Government for Socio-Economic Development and relief and welfare of the Scheduled Caste, Scheduled Tribe, other backward classes, minorities and women.

Rural Development:

Rural development projects such as supply of drinking water, development of SHG Programme.

Technology Incubators:

Contribution or funds provided to technology incubators located within academic institution which are approved by the Central Government.

Slum Area Development:

Contribution or funds provided for slum area development located within projects area.

Swachh Bharat:

Contribution to the Swachh Bharat Kosha set up by the Central Government for the promotion of Sanitation and the clean Ganga fund set up by the Central Government for rejuvenating of the river Ganga.

Options for Implementation:

Companies have given free hand to choose and implement Corporate Social Responsibility activities as per its policies decided by its board:

· Either directly or through Trusts / Societies or Section of Companies (entities) operating in India or set up by it.

· Companies have also option to take up Corporate Social Responsibilities activities through entities specified above but not set up by it. The condition is that these entities must have an established track record of at least 3 years in the line. However, monitoring of these activities by company is mandatory.

· Companies can also collaborate with other companies in their Corporate Social Responsibilities projects but those companies committees must report Corporate Social Responsibility activities Corporate Social Responsibility as per Rule.

Exclusions/ Restrictions: Following are the restrictions:

· Programs or activities undertaken exclusively for employees or their families shall not be considered as Corporate Social Responsibility.

· Any contributions made to political parties u/s 182 of CA 2013 shall not be given credit.

· Projects or activities undertaken in India will only be given credit or counted for the purpose of mandatory spend limit.

· Companies are allowed to spend up to 5% of total spend in any financial year to build capacities of their own Corporate Social Responsibility personnel or the agencies through whom Corporate Social Responsibility activities are undertaken.

Corporate Social Responsibilities Expenditure:

Any expenditure to be considered as Corporate Social Responsibilities activities has to be as per the Policy approved by the Board and those activities must be within the ambit of Schedule VII activities. The expenditure can be revenue in nature.

Failure on spending the requisite amount on Corporate Social Responsibilities Activities:

The Board shall, in its report made under Clause (O) of sub-section (3) of Section 134, specify the reasons for not spending the amount – section 135(5).

Corporate Social Responsibilities Reporting:

The Board’s report of a Company shall annex a report on Corporate Social Responsibilities activities undertaken during the year as per format provided in the Rules. This requirement is applicable on or after the Financial Year 2014-15.

Salary to Regular Corporate Social Responsibility Staff/Employees rendering Corporate Social Responsibilities Service:

Part of Administrative overheads should not exceed 5% of the total CSR expenditure in one financial year – Rule 4(6)

Tax Benefits under Corporate Social Responsibilities: Specifically no for Corporate Social Responsibilities expenditure as the spending on several activities already enjoy exemptions under different sections of the Income Tax Act, 1961 – Refer Finance Act–2014.

Donation of Money to a Trust/Society/Section 8 Company Vs. Corporate Social Responsibilities Expenditure:

Donation can be treated as Corporate Social Responsibilities Expenditure this way as long as the corpus of the same is created exclusively for undertaking Corporate Social Responsibilities activities.

Contribution to Political Parties:

Contribution made to any political parties cannot amount to Corporate Social Responsibilities activity.

Foreign Company Vs. Reporting on Corporate Social Responsibilities Activity:

Reporting is to be done in the form of an annexure with Balance Sheet field under Section 381 (1) (b).

Display of information on web-site:

Companies must display their Corporate Social Responsibilities activities as per particulars in format.

FORMAT:

A format for the annual report given in the rules is presented below:

· A brief outline of the Companies CSR Policy, including overview of Projects or Programs proposed to be undertaken and a reference to the web-link to the CSR policy and projects.

· The composition of the CSR committee.

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

· Prescribed CSR Expenditure.

· Details of money spent on CSR during the financial year.

· Amount unspent if any, reasons.

· Manner in which the amount spent during the financial year.

SUGGESTION AND CONCLUSION:

The Companies Act 2013 is a historic piece of legislation that has been enunciated to regulate Indian Companies. For the first time ever, Corporate Social Responsibility has received legal sanctity. However, there are still certain issues which need to be addressed. Corporate Social Responsibility Clause – 135 under Companies Act, 2013 require a minimum of 3 directors for the constitution of the Corporate Social Responsibilities Committee, clarification is needed as to whether qualifying Private Companies would be required to appoint a third director to comply with the Corporate Social Responsibility provisions. The Act is thus at a nascent stage and there certain ambiguities which need to be changed.

Neither the companies Act 2013 nor the CSR Rules prescribe any specific penal provision if a company fails to spend the amount. Also, there does not appear to be any legal obligation on companies to make good short spend of one year in the subsequent years. This indicates that there is no legal obligation on companies to incur CSR expenditure. However, due to disclosure of short spend in the board report, many reputed companies can ill afford not to spend the prescribed amount. Hence, the naming and shaming policy will create an implied pressure on companies to spend the requisite amount. Also, reputed companies, who have not been able to spend the requisite amount in one year, may try to spend the shortfall in subsequent years.

Paragraph–7–of the CSR rules explains CSR expenditure in an inclusive manner. It states as “CSR expenditure shall include all expenditure to corpus, or on projects or programs relating to CSR activities approved by the Board on the recommendation of its CSR Committee, but does not include any expenditure on an item not in conformity or not in line with activities which fall within the preview of schedule–VII of the Act. Considering the above, one may argue that a company can incur both capital and revenue expenditure on CSR activities. However, no guidance is available on how capital expenditure will be included in the CSR limit. Many believe that if the contribution is made to a trust, then it does not matter whether the trust has spent it on capital assets or operating expenditure, and both would be counted in the 2% limit of the current year. However, if a company is self is incurring CSR expenditure. However, if a company it self is incurring CSR expenditure, the capital assets will be owned by the Company. Consequently, in such cases, one may argue that only depreciation on the capital asset will be counted as the CSR expenditure. Some income may be generated from use of the capital asset earmarked for CSR activity. Say, fee collected from school run for poor children. The CSR rules are clear that such income will not form part of the business profit for the company, rather, it needs to be incurred on CSR activities.

The ministry of Corporate Affairs (MCA) may consider clarifying this issue. Until such guidance is provided, it may be appropriate for a company to consult legal professionals before taking final view.

Various analyses shows that the law in its current form is failing to promote healthy CSR initiatives due its poor enforcement and lack of clear obligations. The legal provisions related to CSR contain vague language which results in a high degree of self-interpretation. Another flow from which the CSR has to struggle is that the Act does not penalize a defaulter and just allows them to walk away with an explanation regarding their failure on CSR activities. This results in high corruption, low levels of public confidence, low development and weak institutions.

It is worth mentioning that corporate pay tax on 1/3 of their profits every year. Apart from this Companies also pay wealth tax of 1% of their taxable net wealth. This doesn’t end here, there are certain big business houses such as TATA STEEL, IFFCO, ADITYA BIRLA, NALCO, ADANI GROUP, VEDANTA LTD, INDIAN OIL, ACC, LARSEN & TOURBO, JINDAL STEEL & POWER LTD, HINDALCO INDUSTRIES LTD, BAJAJ, INFOSYS, WIPRO, RELIANCE etc. which keeps contributing towards the welfare of the society. However, by making spending 2% of average profits made during immediately preceding three financial years on Corporate Social Responsibility activity a mandate, there may be reluctance in Compliance, especially in case of Companies which are not profitable, but fall under the category due to triggering net worth or turnover criteria. This is one important aspect, which has been completely missed out in the companies Act, 2013. There may be exemption of Corporate Social Responsibility, especially in case of Companies which are not profitable, but fall under the designated category due to triggering net worth or turnover criteria.

Corporate Social Responsibility is an emerging activity which is at the initial stage and will grow more in the coming times. Companies Bill which is a good initiative by the Government of India for various companies to allocate certain budget for this activity but it is unclear that how much amount has to be spent on this activity. On the international front, Corporate Social Responsibility has been accepted as an important concept for image building and for the successful conduction of the business. But in India it has taken up on a more serious note than a mere tax benefiting activity. The amount projected to be spent on Corporate Social Responsibilities activities should be fixed by the Government of India. Social and Environmental Development Programmes must be taken up by various companies as a part of this law.

REFERENCE:

1. World Economic Forum (2002) ‘Global Corporate Citizen: The leadership challenge for CEOs and bonds. (http://www.weforms.org/pdf/gcci/gcc_ceostatement.pdf)

2. Australian Parliamentary Joint Committee (2005) on corporations and financial services, Inquiry into Corporate Responsibility and Triple Bottom line reporting for incorporated entities in Australia. (http://www.philanthropy.org.au/edfs/advocacy/pa-ipicr_0905.pdf at 31st December 2013.

3. Tom Fox (2004) ‘Corporate Social Responsibility and Development: In Quest of an Agenda”, Journal of Corporation Law, Vol-29.

4. Andy Lockelt, Jeremy Moon, Wayne Visser, “Corporate Social Responsibility in management research, Focus, Nature, Alliance and Sources of Influence, (2006) 43(1) Journal of Management Studies.

5. Moon, Vogel, Karrin Bubmann, (2006) 6 (2) Corporate Social Responsibility: What Role for Law ? Some Aspects of law and of law an corporate social responsibility pp 188-198.

6. Christopher Tung (2006), The Legal Implications of Corporate Social Responsibility. (www.csr-asia.com/cgconference 2006/christung.pdf at 20th November - 2010)

7. Baron, D (2001), “Private Politics, corporate social responsibility and integrated strategy” Journal of Economics and Management Strategy, 10, 7-45.

8. A renewed EU strategy 2011-14 for Corporate Social Responsibility, “European Commission Press release, http://ec.europa.eu/enterprise/newsroom/cf/ _getdocument.cfm?doc_id=7010, 25 February 2016.

9. Vikas Choudhary: Suman Tandon, Corporate Social Responsibility of Public sector Banks in India.

10. Akanksha Jain (2014), “The Mandatory CSR in India: A Boon or Bane”, Indian Journal of applied Research, Volume-4, Issue: 1, pp-301-304.

11. http://timesfoundation.indiatimes.com/photo.cms?msid=4620277, Retrieved on 02.08.2016.

12. http://chillibreeze.com/articles_variouss/CSR-in-India.asp, Retrieved on 02.08.2016.

13. Ravindra parwal, Shilpa Verma, Anup Chaudhary and Udit Pandey “Corporate Social Responsibility – past Indian Scenario in the Year 2012” International Journals of Trends in Economic Management & Technology: Vol-1, Issue-6, December 2012.

14. Sohell Ghose, “A look into Corporate Social Responsibility in Indian and emerging economics” International Journal of Business and Management Invention, ISSN (online) 2319-8028, ISSN(Print) 2319-801X, www.ijbmi.org. volume-1-issue-1, December 2012, pp- 22-29.

15. Dr. Seema. S. Singha, Mr. Subhadeep Mukherjee, Corporate Social Responsibility (CSR) An overview of trends and practices in Indian context.

16. The Companies (Corporate Social Responsibility Policy) Rules, 2014 The Gazatte of India (95) February 28^th, 2014.

17. Ministry of Corporate Affairs, Corporate Social Responsibility voluntary Guidelines, 2009 available at: http://www.mca.gov.in/ ministry/latest news/CSR_voluntary_guidelines_24dec2009pdf.

18. Press Information Bureau, Ministry of Corporate Affairs, Government of India, Corporate Social Responsibility, 11^th August, 2011, Available at:- http://www.pib.nic.in/newsite/erelease.aspx?relid=74428

19. Aneel Karnani, Mandatory CSR in India: A Bad Proposal, Stanford Social Innovation Review Blog, May 20^th, 2013, Available at: http://www.ssireview.org/blog/entry/mandatory_csr_in_india_a_badproposal.

20. “Importance of Corporate Social Responsibility” Management Study Guide (June9, 2018) http://www.managementstudyguide. com/importance-of-corporate -social-responsibility.html.

21. C.A. Divyang Gupta “Corporate Social Responsibility – Companies Act, 2013”. Taxguru (June-9, 2018), http://www.taxguru.in/company-law/corporate-social-responsibility-companies-act-2013-2.html

22. Jafri Alli Qamer “Corporate Social Responsibility in India: Triumphs and Failures” (July 25, 2018), http://www.blog.ipleaders.in/csr-triumphs-failures/

23. Price Waterhouse Coopers (2013): Handbook on Corporate Social Responsibility in India, Available at: http://www.pwe.in/assets/pdfs/publications/2013/handbook-on-corporate-social-responsibility-in-india.pdf.

24. The Companies Act, 2013–Available at: http://www. indiacode.nic. in/acts-in-pdf/18203.pdf.

25. Dr Gyanendra Kumar Sahu, “Corporate Social Responsibility in Perspective of Indian Constitutions” Journal, IJAR-2015, I(10), 801-803, ISSN(online) 2394-5869.

26. Ruchi Goel, Divya Gupta, Analysis of Corporate Social Responsibility under Companies Act, Available at: http://www.lex-warrier.in/2015/03/analysis-of corporate-social-responsibility-under-companies-act/pdf.

27. G.S. Rao, Corporate Social Responsibility, Available at: http://www.taxguru.in/company-law/rules-corporate.social.responsibility.htmp

28. Sabharwal, D. Narula.S., “Corporate Social Responsibility in India Introspection” Journal, Journal of Mass Communication & Journalism, July-2015, ISSN-2165-7912, PP-1-6, Available at:http://www.omicsonline.org/open-access/corporate-social-responsibility-in-indianintrospection-2165-7912-1000270.php?aid=59520.

29. Pradeep Chaturvedi, NewDirections of Corporate Social Responsibility in India, Journal, Institute of Directors, New Delhi, December 2013.

30. Guidelines on Corporate Social Responsibility and sustainability for Central Public Sector Enterprise, April-2013, Available at: http://www.depemou.nic.in/MOUFiles/ Revised_CSR_Guidelines.pdf.

31. Corporate Social Responsibility- towards a sustainable future, Available at: http://www.kpmg.com/in/en/services/ advisory/riskcompliance/documents/whitepaper%20on20csr.pdf.

Received on 31.12.2018 Modified on 15.01.2019

Int. J. Rev. and Res. Social Sci. 2019; 7(1):107-115.

DOI: 10.5958/2454-2687.2019.00009.1

Sl. No	CSR Activity Identified	Sector in which the project is covered	Programs	Program wise budget outlay	Amount spent on the Programs	Cumulative expenditure up to the reporting period	Amount Spent : Direct or through implementing agency
1	2	3	4	5	6	7	8