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Firms face prosecution for skipping CSR spend

DNMUM416136 | 6/14/2018 | Author : Anjul Tomar | WC :559

Corp affairs min to send showcause notices to companies violating law

New Delhi: The government has changed its soft approach on its corporate social responsibility (CSR) law from ‘comply or explain’ to ‘comply or get prosecuted’ .
An executive order to this effect has been issued by the Ministry of Corporate Affairs (MCA) recently, sources said.
The corporate affairs ministry is soon going to send showcause notices to the companies, which have not spent 2% of their profits on social welfare activities.
“We are soon going to issue showcause notices to the companies which have not spent on CSR activities during the past three years (2015-18),” said a senior official in the ministry.
Until now, the government was acting only against those companies that failed to explain in their a
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