Prosecution Sanction given in 366 cases for violation of CSR provisions : Thakur

Speed Post News Network

New Delhi : Sanction for prosecution for violation of Corporate Social Responsibility (CSR) provisions has been accorded in 366 cases besides 121 applications for compounding have been made and 37 cases have been compounded. All CSR related offences are compoundable.

This was stated by Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in written reply to a question in Lok Sabha on March 16, 2020.

Thakur further stated that whenever any violation of CSR provisions is reported, action against such non-compliant Companies are initiated as per provisions of the Companies Act, 2013, after due examination of records following due process of law. Corporate Social Responsibility (CSR) is a Board driven process and the Board of the company is empowered to plan, decide, execute and monitor the CSR activities of the company based on the recommendation of its CSR Committee, he said, according to a PIB release.