Volume : 9, Issue : 5, May - 2020

CORPORATE SOCIAL RESPONSIBILITY IN INDIA AND PROVISIONS OF COMPANIES ACT-2013 (SECTION 135 OF THE 2013 ACT)

Prof. Dharmendra C. Parmar

Abstract :

Corporate Social Responsibility is a way of conducting business, by which corporate entities visibly contribute to the social good. Socially responsible companies do not limit themselves to using resources to engage in activities that increase only their profits. Globally, the notion of CSR and sustainability seems to be converging, as is evident from the various definitions of CSR put forth by global organisations. As the business environment gets increasingly complex and stakeholders become vocal about their expectations, good CSR practices can only ing in greater benefits. Several human resource studies have linked a company’s ability to attract, retain and motivate employees with their CSR commitments. Interventions that encourage and enable employees to participate are shown to increase employee morale and a sense of belonging to the company. The genesis of this convergence can be observed from the preamble to the recently released draft rules relating to the CSR clause within the Companies Act, 2013 which talks about stakeholders and integrating it with the social, environmental and economic objectives, all of which constitute the idea of a triple bottom line approach.