CSR enforcement under companies act comes under scrutiny | Current Affairs, Current Affairs 2018

CSR enforcement under companies act comes under scrutiny

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12-member panel has been created to review the enforcement of CSR provisions under the companies law.
According to government source, the panel will also look into a centralised scrutiny and prosecution mechanism to deal with violations. Besides, the panel will revisit “Schedule VII of Companies Act, 2013, on the basis of references received from stakeholders, including ministries and department of centre and states, members of Parliament, member of state legislatures and civil societies”. A committee on CSR to review “the functioning of CSR enforcement and to recommend a uniform approach for its enforcement” has been constituted.. Among others, the panel would revisit the guidelines for enforcement of CSR provisions and basis, including structure of Centralised Scrutiny and Prosecution Mechanism (CSPM).
The 12-member panel is headed by Regional Director (Western Region) Manmohan Juneja. Other members include Joint Director (Legal) Sanjay Shorey and Joint Director (Policy) N K Dua, while Deputy Director (CSR) Seema Rath will be the convener. Representatives from apex bodies of chartered accountants, cost accountants and company secretaries, among others will be part of the panel.
Besides, there will be two sub-committees — legal and technical — that would go into various aspects in relation to compliance with CSR provisions.

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