Streamlining Compliances vs. Avoiding Consequential Penalties: The Right Choice for Corporates

Author: CS Pradeep Kumar Parakh  Introduction: In today's complex business environment, companies face numerous regulatory requirements and compliances that must be adhered to. Failing to comply with these regulations can result in severe penalties, which may have significant repercussions on a company's reputation, financial standing, and overall operations. On the other hand, streamlining compliances can be a proactive approach that not only ensures adherence to the law but also protects the company from facing consequential penalties. To highlight the importance of making the right choice, we will examine a real-world example of an adjudication of penalty under Section 454 of the Companies Act, 2013, involving M/S Takraf India Private Limited for violating provisions of Section 135(6) of the Companies Act, 2013.   The Case of M/S Takraf India Private Limited: F.NO. ROC/ CHN/ TAKRAF/ ADJ Order/ S.135(6) / 2023, dated 11 July 2023, marks a significant event in the

Effective Impact Reports

  Effective Impact Reports Raising grants needs effective impact evidence and data-driven storytelling . We all publish our annual reports but these annual reports are no longer sufficient to raise new grants/ donations.  We must be able to demonstrate how our initiative is able to bring positive social change to people and the planet.  In India, where CSR is mandatory, impact report is must for projects of value over Rs. 50 lakh and the Company’s CSR mandate is over Rs. 1 Cr. However, it is advisable to conduct impact assessment for projects of any value. Sharing such reports with funders and other stakeholders will help build your credibility and thus, help strengthen the relationship. Example:  Suppose your organisations vision is to alleviate poverty by helping people from marginalized communities to secure affordable housing through a government scheme.  You can measure and present your organisation’s impacts as: Comparison of no. of people supported and reduction in poverty Organ

Webinar on 'NGO Management in the Current Scenario'

  NGO Management in the Current Scenario  In the past decade, India has witnessed tremendous economic growth and been one of the world’s fastest-growing major economies. It is now ranked as the fifth-largest economy in the world in absolute GDP and the third-largest economy in terms of purchasing power. In terms of per capita GDP, however, India ranked 153rd in 2010 and increased only marginally to 144th in 2021. The trend has been further accentuated by the pandemic, which pushed more than 200 million Indians into poverty, widened the inequality gap, and hit disproportionately disadvantaged communities hard. For NGOs, in addition to an increase in the number of people who need assistance, there are challenges related to project management, fundraising, organisation management and governance. Fundraising space is rather shrinking, there are new compliances introduced that NGOs must adhere to and there are additional requirements from donors regarding systems and processes that must be

CSR Policy Amendment Rules 2022

Author: CS Pradeep Kumar Parakh | Date: 10-Oct-2022.       The CSR Policy Amendment Rules, 2022 (“the Amendment Rules, 2022”) were notified by the MCA vide Notification No. G.S.R. 715(E) dated 20 September 2022 amending the the CSR Policy Rules, 2014 (“the Original Rules”) with effect from 20 September 2022. The key changes made to the respective Rules, effects thereof, are summarized below:    Sr. No. Rule No. of the Original Rules Mode of Amendment Topic of Amendment Description of Amendment Amendment relevant to 1. Rule 3(1) Insertion of proviso CSR Committee A Company shall continue to have its CSR Committee, till any amount remain unspent for Ongoing Project and are transferred to a separate Bank Account called as “The Unspent Corporate Social Responsibility Account” which are spent by the Company as per its obligation towards CSR within a period of three financial years

Azadi Ka Amrit Mahotsav - Har Ghar Tiranga

Author: Gopal Kumar Jain, Ginelle Louis | Date: 13-August-2022.  Click on the following links to know more about  Har Ghar Tiranga   and  Azadi Ka Amrit Mahostav #azadikaamritmahotsav #momentswithtiranga #prideofindia #harghartiranga #tricolour                                                                                            --------------------- truCSR is a social venture, working with Contributors (Corporate) and Implementers (NGOs) to foster effective collaborations for creating meaningful Social Impacts and achieve higher Social Returns on Investment. truCSR offers customized support to corporates to plan, strategize, implement and effectively monitor their Corporate Social Responsibility (CSR) activities, in a Transparent, Reliable and Utilitarian manner. We at truCSR have developed a networking platform to facilitate Corporate Social Responsibility (CSR) initiatives. For any queries or support related to CSR, please write to us as

Menstrual Hygiene Day 28 May 2022

Author: Gopal Kumar Jain, Anjani Panchal, Smriti Lotlikar | Date: 08-June-2022.  #WeAreCommitted Menstruation is as normal as breathing. Yet around the world the issue continues to be neglected at all levels. Poor menstrual hygiene (MH) caused by a lack of education on the issue, persisting taboos and stigma, limited access to hygienic menstrual products and poor sanitation infrastructure undermines the educational opportunities, health and overall social status of women and girls around the world. As a result, millions of women and girls are kept from reaching their full potential.   Status of MH in India Menstrual Hygiene Day (MH Day) Organisations around the world come together on this day to create awareness and sensitise individuals on persisting taboos and stigma and lack of access to information about menstruation, period products and adequate infrastructure.    More specifically, MH Day: •            breaks the silence, raises awareness and changes negative social norms around