hello,
sec 135(1)lays down the criteria for which company must form CSR committee right?now if it is not eligible under such criteria for 3 consecutive years,
is that company not required to constitute a committee?OR
is it not even reqd to spend 2% of avg net profit????
No, if company doesn't fulfill the three criteria, it is not required to form CSR committee or spend 2% of its average net profits.
CAclubindia
