Companies Bill, 2012 - Interaction on Corporate Social Responsibility by Minister of State (IC) for Corporate Affairs
The Rajya Sabha passed the Companies Bill, 2012, which was passed by the Lok Sabha on 18th December, 2012. After the assent of the President of India, the new legislation is going to replace the 57-year-old law, i.e., the Companies Act, 1956.
One of the paradigm change is inclusion of clauses on Corporate Social Responsibility. Companies having net worth of Rs. 500 crore or more or turnover of Rs. 1000 crore or more or net profit of Rs. 5 crore or more during any financial year will be required to spend at least 2% of average net profits of immediately three preceding years on CSR activities in a year.
Shri Sachin Pilot, Hon'ble Minister of State (IC) for Corporate Affairs is hosting a Google Hangout interaction on CSR on Youtube. The details are as follows:
Date: 14th August, 2013
Time: 11 AM
Relevant link: http://www.youtube.com/user/indiaconversation
You may watch the programme to get better idea about the new changes.