Suppose any company falls into any 1 criteria out of 3 criteria for applicability of CSR provsion,then for that company CSR is recomendary or Mandatary?
If it is mandatary but company not take initiative for forming the commitee or spending of 2% amount then what shall be the consequenses?
23 August 2014
CSR for you is mandatory as you are meeting one criteria. For CSR applicability only 1 criteria is enough. Now you have to form CSR Committee and CSR policy.
Not following CSR provisions shall result into violation of various provision of Companies Act 2013. There is no escape route for you now. So it is better to follow the rules.