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Details of CSR initiatives of companies in India for 2011

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  • karmayog - tanya
    Details of CSR initiatives of companies in India 1. Since June 2012, we have been circulating details of the CSR activities done by companies in India in the
    Message 1 of 1 , Jan 5 12:07 AM
      Details of CSR initiatives of companies in India
      1. Since June 2012, we have been circulating details of the CSR activities done by companies in India in the last financial year.

      2. The information has been circulated through the Karmayog Digest and is available online as individual messages.

      3. The information about the companies has been sourced from the company's Annual Report and website.

      4. Each email contains the following:

      Name of company:
      Annual Profit / Loss Before Tax in 2011-2012
      CSR Details: from Annual Report / website
      Name of Chairman / Managing Director
      Contact Details of the company

      5. Companies of all sizes have been covered; there has been no criteria for selection of companies.

      6. No CSR rating has been assigned to any of the companies studied in 2012.

      7. Information on over 550 companies is available through the following urls:
      http://groups.yahoo.com/group/karmayog/msearch?query=%22CSR+by%22&charset=windows-1252
      and
      http://groups.yahoo.com/group/karmayog/msearch?query=%22Suggest+CSR%22&submit=Search&charset=windows-1252

      8. The objective of this exercise is to for readers to send their suggestions, observations and comments to companies, whether they do or do not undertake Corporate Social Responsibility initiatives.

      9. NGOs may also send [by Post to the Chairman is best] a general or specific appeal letter to the Company with a brochure about their work.

      10. For information on the CSR activities of companies in previous years (2007-2010) that include a CSR rating for each company, please refer to www.karmayog.org/csr

      11. Do refer to the National Voluntary Guidelines on Social, Enviromental and Economic Responsibilities of Business, as issued by the Ministry of Corporate Affairs in 2011, for companies in India to follow at http://www.mca.gov.in/Ministry/latestnews/National_Voluntary_Guidelines_2011_12jul2011.pdf

      12. Do also refer to Clause 135 of the Companies Bill [at http://www.mca.gov.in/Ministry/pdf/The_Companies_Bill_2011.pdf%5d that says:

      (1) Every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors, out of which at least one director shall be an independent director.



      (2) The Board's report under sub-section (3) of section 134 shall disclose the composition of the Corporate Social Responsibility Committee.



      (3) The Corporate Social Responsibility Committee shall,-

      (a) formulate and recommend to the Board, a Corporate Social Responsibility Policy which shall indicate the activities to be undertaken by the company as specified in Schedule VII;

      (b) recommend the amount of expenditure to be incurred on the activities referred to in clause (a); and

      (c) monitor the Corporate Social Responsibility Policy of the company from time to time.



      (4) The Board of every company referred to in sub-section (1) shall,-

      (a) after taking into account the recommendations made by the Corporate Social Responsibility Committee, approve the Corporate Social Responsibility Policy for the company and disclose contents of such Policy in its report and also place it on the company's website, if any, in such manner as may be prescribed; and

      (b) ensure that the activities as are included in Corporate Social Responsibility Policy of the company are undertaken by the company.



      (5) The Board of every company referred to in sub-section (1), shall make every endeavour to ensure that the company spends, in every financial year, at least two per cent of the average net profits of the company made during the three immediately preceding financial years, in pursuance of its Corporate Social Responsibility Policy:



      Provided that if the company fails to spend such amount, the Board shall, in its report made under clause (o) of sub-section (3) of section 134, specify the reasons for not spending the amount.


      13. Please do note that we do not have a directory compilation or list of companies doing CSR in the year 2011-2012.
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