Why become a member?
Under the Companies act 2013 and Section 135 on Corporate Social Responsibility (CSR), any company having a net worth of rupees 500 crore or more, or a turnover of rupees 1,000 crore or more, or a net profit of rupees 5 crore or more, has to spend at least 2% of last 3 years average net profits on CSR activities as specified in Schedule VII of the Companies Act, 2013. The rules came into effect from 1 April 2014. SEBI, has mentioned that enterprises are accountable to the larger society and “adoption of responsible business practices in the interest of the social set-up and the environment are as vital as their financial and operational performance”. SEBI has mandated the inclusion of Business Responsibility Reports as part of the annual reports of the Top 100 listed entities based on market capitalization at BSE and NSE. It is mandatory to make these reports available on the website of the company. For companies that do not belong to Top 100, inclusion of Business Responsibility Reports is not mandatory, though SEBI encourages its inclusion in the annual report and website.
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