Section
135 of the Companies Act, 2013 deals with Corporate Social Responsibility
(CSR).
Under
this Section every company having net worth of Rs. 500 crore or more or
turnover of Rs. 1000 crore or more or net profit of rupees five crores or more
during any financial year, shall constitute a CSR Committee to recommend its
activities for discharging CSR in such a manner that the company would spend at
least 2 percent of its average net profits of the company made during the three
immediately preceding financial years, in pursuance of its CSR policies.
Section
135 of the Act has not yet come into force and as such this Ministry has no
information on the expenditure incurred on CSR activities.
Giving
this information in written reply to a question in the Rajya Sabha, Shri Sachin
Pilot, Minister for Corporate Affairs, said that the list of various activities
which may be included by companies in the CSR policies listed in Schedule VII
of Act includes “ensuring environmental sustainability”.
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