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If formation of CSR Committee is must for a Holding Co. as per Sec. 135 of CA,2013;Will Formation of CSR Committee be necessary for its subsidiaries too???
plz do guide...
Replies (3)
It's not mandatory.
Conditions for forming CSR committee as per section 135 of COA
Every company having net worth of rupees five hundred crores 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.
AS per CSR FAQs about CSR #8
Holding or subsidiary of a company does not have to comply with sec 135(1) unless the holding or subsidiary itself fulfills the criteria.
Link - https://www.mca.gov.in/Ministry/pdf/FAQ_CSR.pdf
Mr Mohammad rasool baig is correct. While co having cross such limit, it will mandatory for all co. Other wise it's optional for subsy co..
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