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284 companies may face prosecution for CSR non-compliance

  • Posted byBSE Sammaan
  • AtDec 19, 2018
  • LocationNew Delhi, Delhi, India

The government has sanctioned prosecution proceedings against 284 companies and sent 5,382 notices to companies that have not fulfilled the mandatory corporate social responsibility (CSR) expenditure

NEW DELHI: The government has sanctioned prosecution proceedings against 284 companies and sent 5,382 notices to companies that have not fulfilled the mandatory corporate social responsibility (CSR) expenditure norms, minister of state for corporate affairs P P Chaudhary has said. 

Companies with a net worth of Rs 500 crore or more, revenues of Rs 1,000 crore or more, or net profit of Rs 5 crore or more in a fiscal year are required to spend at least 2% of the average profits of the prec ..