CSR RULES AND THE COMPANIES ACT 2013
Keywords:
Corporate Social Responsibility, Company Law, CorporationAbstract
In recent years, corporate social responsibility has received a lot of attention. CSR, or corporate citizenship, strives to awaken the corporate consciousness by requiring businesses to pay short-term costs that do not give a direct financial return but instead create positive social and environmental change. The New Companies Act of 2013 introduced the concept of required CSR, and it will replace the archaic Companies Act of 1956, which is nearly 60 years old. This article focuses on the Companies Act of 2013 and its requirements for mandated spending and disclosure of CSR initiatives. The article also goes over the significant flaws in the clause that could make it difficult to apply in practise.
References
I. Blowfield, Michael and Jedrzej George Frynas (2005): "Setting new agendas: critical perspectives on Corporate Social Responsibility in the developing world”. International Affairs, Vol: 81, No: 3, pp: 499-513.
II. Bowen, H. R. (1953). Social Responsibilities of the Businessman Harper & Row. New York.
III. Carroll, A. B. (2000). The Four Faces of Corporate Citizenship In: RICHARDSON, JE. Business Ethics. Guilford: Dushkin/McGraw-Hill, 198-203.
IV. Crane, A., & Matten, D. (2004). Business ethics: A European perspective: Managing corporate citizenship and sustainability in the age of globalization. Oxford: Oxford University Press.
V. Elkington, J., & Rowlands, I. H. (1999). Cannibals with forks: the triple bottom line of 21st century business. Alternatives Journal, 25(4), 42.
VI. Kumar, R., Murphy, D., & Balsari, V. (2001). ‘Altered images: the 2001 state of corporate responsibility in India. In Business-Social Partnership: Beyond Philanthropy Conference, Indian Institute of Management, Calcutta, India, December.
VII. Ramachandran, R. (2015). Do Companies Benefit by CSR. Journal of Research and Development, 3, 125.
VIII. Ramakrishnan, R. (2017). Do Shareholders Come First? Available at SSRN 3025922.
IX. Ramakrishnan, R. (2011, August). Stakeholder Management – A Critical Study on the Opportunities and Challenges from India. In 23rd AIMS Annual Management Education Convention (pp. 26-27).
X. Ramakrishnan, R. (2017). Contribution of CSR towards Development-The Indian Perspective. Available at SSRN 3059833.
Additional Files
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 International Education and Research Journal (IERJ)
This work is licensed under a Creative Commons Attribution 4.0 International License.
