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199 companies to face penalty for non-compliance of CSR norms

New Delhi: The Central Government has accorded permission for initiating penal action against 199 companies for non-compliance with provisions of section 135 read with section 134 (3) (o) of the Act.

This was stated by Shri P.P. Chaudhary, Minister of State for Corporate Affairs and Law & Justice in the Rajya Sabha today.

The Government has no proposal to review the state of implementation of the provisions of the existing Act related to Corporate Social Responsibility.

Whenever a violation of Corporate Social Responsibility (CSR) provisions are found, action under section 134 (8) of the Companies Act, 2013 (the ‘Act’) is initiated.

 

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