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CRS Panel Gets Time Till Sept 22 to Submit Report
The six-member panel, which is working on steps for im proved monitoring of CSR spending done under the companies law, has been given more time to submit its final report.Chaired by former Home Secretary Anil Baijal, the panel has now been given time till September 22 to finalise its report. Initially, the committee's report was expected to be ready by August end.In a circular issued on Wednesday, the Corporate Affairs Ministry said the “committee has been granted extension of another one month with the approval of the Union Minister for Corporate Affairs to submit its report by September 22, 2015“.Under the Companies Act, 2013, certain class of profitable companies are required to shell out at least two per cent of their three-year average annual net profit towards CSR.
The Economic Times, New Delhi, 18th Sept. 2015