CS Smriti Sharma (ACS, B Samrish & Co.) (880 Points)
21 April 2014
Can a company in order to comply with CSR requirements invest in a registered trust in which director is a trustee. Will that be valid?
Kindly throw some light.
Ankit
(CA, CS)
(3064 Points)
Replied 21 April 2014
Dear Smriti,
Yes, it will be a valid transaction for the purpose of CSR. Since there is no specific bar on the same. However, you may need to check the implications of the same under the provisions of Related Party Transactions.
- Ankit
Avneesh Mishra
(CS Trainee)
(502 Points)
Replied 22 April 2014
Dear Smriti Ma'am,
The trust will become a Related party to the Company (Ref. Form 12.1 Notice by the Interested Directors wrt section 184(1) & rule 12.7).
With reference to point 4 of the CSR Notification, The Board of a company may decide to undertake its CSR activities approved by the CSR Committee, through a registered trust or a registered society or a company established by the company or its holding or subsidiary or associate company under section 8 of the act or otherwise.
There is no such barrier to this.
Please correct me, if any.
Regards,
Avneesh Mishra
CS Smriti Sharma
(ACS, B Samrish & Co.)
(880 Points)
Replied 02 May 2014
How trust will become related party?
SHAKEEL ANWAR
(SENIOR ACCOUNTANTS)
(21 Points)
Replied 18 November 2014
| Originally posted by : CS Smriti Sharma | ||
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Can a company in order to comply with CSR requirements invest in a registered trust in which director is a trustee. Will that be valid? Kindly throw some light. |
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Hi Avneet
Can u please clarify the word which u have used a company established by the company or its holding or subsidiary or associate company under section 8 of the act or otherwise.?
Like what type of company is eligible for the same .
Looking for your positive response.
rohan yadav
(article)
(21 Points)
Replied 02 February 2015
anybody can provide me list of eligible trust/society/company which are working on the activity of csr... or can provide the way to find eligible trust/society/company which are doing activity of csr as soon as possible...... @ rohan
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