(A) Formulate and recommend the CSR policy to the Board.
(B) Conduct evaluation and impact assessment of CSR project.
(C) Recommend the amount of expenditure to be incurred on CSR activities.
(D) Monitor the CSR policy of the company from time to time.
(E) Formulate and recommend to the Board an action plan in pursuance of its CSR policy.
Choose the correct answer from the options given below :
The question pertains to the functions of the Corporate Social Responsibility (CSR) committee as outlined in the Companies Act, 2013. Let's analyze the given functions to identify which of them are the responsibilities of the CSR Committee.
- Formulate and recommend the CSR policy to the Board:
This is indeed a function of the CSR committee. The committee is entrusted with formulating and recommending a CSR policy which includes the activities the company should undertake as part of its CSR initiatives. - Conduct evaluation and impact assessment of CSR project:
While evaluation and impact assessment are essential for CSR projects, this specific responsibility is not directly assigned to the CSR committee by the Companies Act, 2013. It generally falls under the scope of third-party evaluators or the relevant department within the company. - Recommend the amount of expenditure to be incurred on CSR activities:
The CSR committee is responsible for recommending the expenditure on various CSR activities to the Board. Thus, this function is indeed part of their responsibilities. - Monitor the CSR policy of the company from time to time:
Monitoring the CSR policy is a crucial task for the CSR committee, ensuring that the policy is effectively implemented and any necessary changes are made in a timely manner. - Formulate and recommend to the Board an action plan in pursuance of its CSR policy:
This function aligns with the duties of the CSR committee as they must devise and recommend an actionable plan to put the CSR policy into practice.
Based on this analysis, the correct answer which includes all the functions mentioned in the Companies Act, 2013 is: (A), (C), (D), (E) only.
Therefore, the correct option is: (A), (C), (D), (E) only.
Important Questions from Corporate Social Responsibility (CSR)
Which of the following are part of Corporate Social Responsibility (CSR) to consumers?
a) Reasonable chances and the proper system for accomplishment and promotion
b) To supply goods at reasonable prices even when there is sellers market
c) Improving the efficiency of the business operation
d) To provide an opportunity for being heard and redress genuine grievances
Choose the correct answer from the options given below
- Match the items of List-I with the items of List-II and indicate the correct code :Codes :
List – I List – II a. Value added Model i. It is based on the process audit thereby evaluating the corporate social performance. b. Bauer-Fenn Model ii. It takes into account the social benefits and costs. c. ABT Model iii. It reflects the impact of a business enterprise on its employees, the local community and the public at large. d. ESTs Model iv. It shows the value added by the value of production of socially desirable outputs minus the value of socially undesirable effects. - Match the items of List – I with List – II with regard to models of Corporate Social Responsibility.
List – I (Proponent) List – II (Emphasis and Models) (a) Mahatma Gandhi (i) Voluntary commitment by companies to public welfare. (Ethical Model) (b) Jawaharlal Nehru (ii) State ownership and legal requirements determine corporate responsibilities. (Statist Model) (c) Milton Friedmen (iii) Corporate responsibilities limited private owners. (Liberal Model) (d) Edward Freeman (iv) Companies respond to the needs of stakeholders. (Stakeholder Model)
Codes : - Gandhian concept of social responsibility is denoted by which one of the following ?
- Which companies qualify for CSR under Companies Act, 2013 ?
(A) Net worth of ₹ 500 crore or more
(B) Turnover of ₹ 1,000 crore or less
(C) Turnover of ₹ 1,000 crore or more
(D) Net profit of ₹ 5 crore or more
Choose the correct answer from the options given below :
