Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021

The summary of the report is as follows:

The Ministry of Corporate Affairs has published a notification titled "Corporation Social Responsibility (CSR) Companies, 2014" (CSR Companies, 2014) under sections 135 and 469 of the Companies Act, 2013 (2013 Act) and sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (2013 Act) to extend the CSR activities of the companies (corporate social responsibility companies) and make amendments to the CSR Companies, 2014. The summary of the notification is as follows:

1. The name and commencement of the notification: The name of the notification is "Corporation Social Responsibility (CSR) Companies, 2014" (CSR Companies, 2014) and it will come into effect from the date of its publication.
2. The companies covered under the notification: The notification applies to all companies (corporate social responsibility companies) registered under the Companies Act, 2013 (2013 Act).
3. The CSR activities to be carried out by the companies: The companies covered under the notification will be required to carry out CSR activities as per the provisions of section 135 of the Companies Act, 2013 (2013 Act) and the CSR Companies, 2014.
4. The amendment to the CSR Companies, 2014: The CSR Companies, 2014 has been amended to include the definition of "CSR expenditure" and to clarify the provisions related to the CSR activities to be carried out by the companies.
5. The summary of the notification: The notification summarizes the provisions of the CSR Companies, 2014 and the amendment made to it.