Corporate Professionals Blog

MCA notifies rules for additional chapters MCA vide its notification dated 28th & 31st March 2014 issued rules for additional 4 chapters under the Companies Act 2013. Till now the rules have issued for 14 chapters. New rules issued are : Chapter XXVI - Nidhi Rules 2014 Chapter XXIX - Companies (Adjudication of Penalties ) Rules 2014 Chapter XXIX - Companies (Miscellaneous ) Rules 2014 Chapter V - The Companies (Acceptance of Deposits) Rules, 2014 Chapter X - The Companies (Audit and Auditors) Rules, 2014

Corporate Social Responsibility (CSR) is now accepted as a means to achieve sustainable development of an organization. Hence, it needs to be accepted as an organizational objective. The Companies Bill, 2012 will make Indian companies to consciously work towards that objective, as it requires a prescribed class of companies to spend a portion of their profits on CSR activities. Businesses can no longer limit themselves to using resources to engage in activities that increase their profits. They have to be socially responsible corporate citizens and also contribute to the social good. Corporate Social Responsibility (CSR) is about integrating economic, environmental and social objectives with a company’s operations and growth. Many consider CSR philanthropy, but that is a limited definition. An organization can accomplish sustainable development if CSR becomes an integral part of its business process.  CSR impacts almost every area of operations: governance and ethics...