A Seminar on Corporate Social Responsibility (CSR) was held at the KIIT University on Saturday being organised by the KIIT law School in association with the National Insurance Company limited. The seminar was inaugurated by Justice Sudhansu Jyoti Mukhopadhaya of the Supreme Court in the presence of his colleague Justice Pinaki Chandra Ghose, Odisha High Court Chief Justice Amitava Roy, Justice PK Chattopadhyay of the Calcutta High Court, NIC ltd Chief Manager (legal) SC Das and KIIT & KISS Founder Dr Achyuta Samanta.
Justice Mukhopadhaya said corporate houses earn their profits from the society, so they have certain social responsibilities towards their stakeholders, workforce, their families and society at large. They must discharge their responsibilities for the downtrodden sections of the society. He informed that the Companies Act has been amended by the Centre to ensure this. As per the Act, companies which do business in access of Rs1,000 crore per annum and make profit of Rs5 crore per year must spend 2 per cent of their average net profit on corporate social responsibility (CSR).
Even though KIIT is not a corporate house, its authorities are providing free education, boarding, healthcare and food to 22,500 tribal children as its responsibility towards society, he noted with appreciation. Justice Ghose said the CSR clause was incorporated in Companies Act in 2013 as it was felt that their role was necessary in development of society. Meaning of CSR is fluid, he said, explaining that it may include philanthropic activities, eradication of malnutrition, setting up of old age home, orphanage, giving free healthcare to poor people, skill development programmes for rural poor, environmental sustainability, women empowerment and gender equity, rural development and disaster management.
Justice Roy also appreciated the CSR activities of KIIT. Justice Chattopadhyay said law students, particularly, should be very well aware of the CSR concept. Dr Samanta said social responsibility is one of the core philosophies of KIIT, rather than a fringe activity.