Tag: Corporate Social Responsibility
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Paper on CSR in China and India
[Posted by Umakanth Varottil] Professors Afra Afsharipour and Shruti Rana have a new paper titled The Emergence of New Corporate Social Responsibility Regimes in China and India, which is now available on SSRN. The abstract is as follows: In an era of financial crises, widening income disparities, and environmental and other calamities linked to corporations,…
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Briefing on Corporate Social Responsibility
[Posted by Umakanth Varottil] The NSE Centre for Excellence in Corporate Governance (CECG) has issued its most recent quarterly briefing titled Corporate Social Responsibility Under Companies Act, 2013 authored by Prof. Subrata Sarkar. The executive summary is as follows: The newly enacted Companies Act, 2013 and the Rules notified thereunder makes it statutory for all…
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MCA Clarification on CSR
[Posted by Umakanth Varottil] The provisions of the Companies Act, 2013 and the relevant Rules thereunder relating to corporate social responsibility (CSR) have come into effect from April 1, 2014. Since this concept is novel in India from a regulatory standpoint, several difficulties are bound to rise in its implementation. Matters are compounded further because…
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Directors’ Actions: For Whose Benefit?
[Posted by Umakanth Varottil] It is clear that directors ought to act in good faith for the benefit of the company. Since the company is a separate legal personality, there is often the question as to who represents the interests of the company. Generally, the interests of the company are said to equate with the…
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CSR Provisions Soon to be Effective
[Posted by Umakanth Varottil] The provisions of the Companies Act, 2013 and the rules thereon pertaining to corporate social responsibility (CSR) have been notified yesterday. They will take effect from April 1, 2014. A copy of the rules as notified is available here. As for the specific CSR activities, Schedule VII of the Companies Act…
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Draft Rules under the Companies Act; CSR
[Posted by Umakanth Varottil] The Ministry of Corporate Affairs, Government of India (MCA) has published a set of draft rules required to make the Companies Act, 2013 operational. This first set has been posted on the MCA website. Comments are due on October 8, 2013. This post briefly considers the draft Corporate Social Responsibility Rules…
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CSR and Global Supply Chains
[Posted by Umakanth Varottil] Normal 0 false false false EN-US JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:Cambria; mso-ascii-font-family:Cambria; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Cambria; mso-hansi-theme-font:minor-latin;} The tragic building collapse in Bangladesh has brought to the fore corporate social responsibility (CSR) issues involving global…
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Theorizing Companies and Shareholder Interests
[Posted by Umakanth Varottil] The two previous issues of the Economist magazine cover different aspects of the functioning of companies and the impact they have on shareholder value and other aspects of society. One set of issues (discussed here and here) deals with the increase in activism among shareholders. While activist shareholders are making their…
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CSR in Public Sector Enterprises
[Posted by Umakanth Varottil] The provisions relating to corporate social responsibility (CSR) in the Companies Bill, 2011 have garnered sufficient attention on the topic. Those provisions are largely in the nature of CSR spending. While the Bill is pending in Parliament, the Department of Public Enterprises has proceeded to issue a revised set of “Guidelines…
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Companies Bill Back on the Anvil
[Posted by Umakanth Varottil] 96 Normal 0 false false false EN-US JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”;} In July this year, the Standing Committee on Finance presented its report on the Companies Bill, 2011 suggesting some…