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Question
Which Section of the Companies Act, 2013 provides legal provisions regarding 'Corporate Social Responsibility' (CSR)?
Which Section of the Companies Act, 2013 provides legal provisions regarding 'Corporate Social Responsibility' (CSR)?
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Solution
The correct option is C Section 135
Corporate Social Responsibility is a business-self regulation that helps the company to be socially accountable to the stakeholders and public. For this purpose the Companies Act, 2013 has provided certain provisions under the aegis of Section 135. It says that every company having net worth of rupees five
hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five
crore or more during any financial year shall constitute a Corporate Social Responsibility Committee of
the Board consisting of three or more directors, out of which at least one director shall be an independent
director.
Corporate Social Responsibility is a business-self regulation that helps the company to be socially accountable to the stakeholders and public. For this purpose the Companies Act, 2013 has provided certain provisions under the aegis of Section 135. It says that every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors, out of which at least one director shall be an independent director.
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