A high-level panel, chaired by Corporate Affairs Secretary Injeti Srinivas, will review the existing framework for Corporate Social Responsibility (CSR) activities under the companies law, according to an official release.
Additional Solicitor General PS Narasimha, Tata Sons Chairman N Chandrasekaran, Arjuna awardee Prakash Padukone and Chairman or representative of markets regulator Sebi are part of the 11-member committee.
Certain class of profitable entities are required to shell out at least two per cent of their three-year average annual net profit towards CSR activities under the Companies Act, 2013. The provision came into force from April 1, 2014.
The panel would review the existing framework and guide and formulate the road map for a coherent policy on CSR.
The release said the committee would “analyse outcomes of CSR activities/ programmes/ projects and suggest measures for effective monitoring and evaluation of CSR by companies. Suggestions are also expected on innovative solutions, use of technology, platform to connect stakeholders, and social audit,” the release said on Friday.