Changing Legal Landscape of CSR Reporting in India – MCA Form CSR 2: Furnishing CSR Report with Facts
Author: CS Pradeep Kumar Parakh | Date: 19-May-2022. Background: When the Corporate Social Responsibility (‘CSR’) concept was introduced in India in 2013, it was intended to be a voluntary exercise and corporates were expected to maximise their contributions for social causes to create a niche in the market with inherent benefit of effective brand building. However, in the past, it has been observed that the CSR funds were not being channelized in their true spirit by certain organisations and resultant abuse of the CSR provisions. The Government of India has been pushing Indian corporates to conduct their businesses with greater transparency, curtail abuse, reinforce governance and provide comprehensive reporting of their activities. Of late, a number of changes in the CSR provisi...