Snapshot of CSR amendments



Quick Summary
The Ministry of Corporate Affairs has introduced significant amendments to Corporate Social Responsibility (CSR) rules, effective from 22 January 2021. These changes include mandatory registration for CSR activities, requiring companies to file an e-form CSR-1 for a unique registration number. Transparency is enhanced through mandatory disclosure of CSR committee composition and projects on company websites. Furthermore, impact assessments by independent agencies are now required for projects exceeding certain thresholds, and unspent CSR amounts must be transferred to designated funds or face penalties.

Ministry of Corporate Affairs (MCA) has ruled out the forbearance, which was there in requirements regarding corporate social responsibility (hereinafter referred to as CSR). MCA has issued Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 (the rules) and notified Section 21 of the Companies (Amendment) Act, 2019 on 22 January 2021. Comparison of the overhauling brought in by the aforesaid rules are compared in the table below: Particulars
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