Composition of CSR Committee
Corporate Social Responsibility:
The provisions of composition of SCR Committee do not applicable to the Company, in compliance with section 135 of the Companies Act, 2013.
As per The Companies (Amendment) Act 2020, under section 135 (9) of the Companies Act 2013, where the amount to be spent by a company under sub-section (5) does not exceed fifty lakh rupees, the requirement under section 135 and sub-section (1) for constitution of the Corporate Social Responsibility Committee shall not be applicable and the functions of such Committee provided under this section shall, in such cases, be discharged by the Board of Directors of such company. Some functions are as following:
a. To formulate a CSR policy which shall indicate the activities to be undertaken by the Company as per the Companies Act, 2013;
b. To review and fix the amount of expenditure to be incurred on the activities to be undertaken by the company;
c. To monitor the CSR policy of the Company from time to time;
d. Any other matter as the Board may deem appropriate from time to time.