Govt issues notices to 272 firms for non-compliance with CSR norms

Under the Companies Act, 2013, certain class of entities is required to spend at least 2 per cent of their three-year average net profit towards CSR activities

The Ministry of Corporate Affairs has issued "preliminary notices" to 272 companies for alleged non-compliance with CSR provisions under the companies' law.
 
In a written reply to the Rajya Sabha, the Minister of State for Corporate Affairs P P Chaudhary said whenever violation of CSR provision is reported, the Registrar of Companies takes action after due examination of records.
 
Under the Companies Act, 2013, certain class of entities is required to spend at least 2 per cent of their three-year average net profit towards Corporate Social Responsibility (CSR) activities.
 
"The ministry has established Centralised Scrutiny and Prosecution