India’s Companies Act of 2013 requires 2% of net profit of profitable firms to be spent on CSR but only 30-40% of the envisioned spending is currently being done. Why do companies lack enthusiasm to do CSR in India? Why is still there a section of corporate which feels that mandatory CSR is stifling and …
The rising potential of human rights cases and securities class actions, along with some new Canadian government regulations, show that if a company pays lip service to corporate social responsibility, it does so at its peril.Indeed, lawyers tell me it’s becoming standard for them to include a review of a target company’s public statements on …
Endorsing the mandatory corporate social responsibility under the Companies Act-2013, Justice Madan Lokur of the Supreme Court on Saturday said that it was a step towards realisation of directive principles of state policy enshrined in Constitution.He was speaking on new provision (which mandates that corporates must spend 2 per cent of profit on CSR) at …
Supreme Court Judge defends mandatory CSR in India Read More »
The Karnataka tourism department is staking a claim to CSR funds, making a pitch recently for companies to adopt tourist destinations. If you thought the non profits were the only ones looking at corporate entities to part with their corporate social responsibility (CSR) funds, think again.After the Maharashtra government asked companies to adopt villages …
Karnataka tourism department seeks a slice of CSR pie Read More »
Ever since the publication of Milton Friedman’s book; Capitalism and Freedom, there has been constant debate of corporate social responsibility and profits, both in the business world, as well as the academic field. The debates now transcend to another level, whether businesses exist for ‘reason‘ or profits.“There is one and only one social responsibility of …
