“So far, sanction for prosecution has been accorded in 366 cases. All CSR related offences are compoundable. So far, 118 applications for compounding have been made and 37 cases have been compounded,” Minister of State for Finance and Corporate Affairs Anurag Singh Thakur said in a written reply to the Rajya Sabha on December 10.
Whenever any violation of the CSR provisions is reported, action against such non-compliant companies are initiated as per provisions of Companies Act, 2013 after due examination of records, he added.
The Minister further said that there was no proposal under consideration to incentivise companies for CSR investment in areas like education and health care.
He was responding to queries raised by JD(U) member M P Veerendra Kumar who had also asked if the government has constituted a monitoring committee to oversee the CSR spending of the companies.
The Minister said the CSR is a Board driven process and the Board of the company is empowered to decide the activities to be undertaken as per Schedule VII of the Companies Act, 2013 taking into consideration the recommendation of its CSR committee.
The entire CSR architecture is disclosure based and CSR mandated companies are required to file details of CSR amount spent annually in MCA21 registry, he added.
