International Journal of Social Science & Economic Research
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Title:
STATUTORY CORPORATE SOCIAL RESPONSIBILITY IN INDIA

Authors:
Dr. Ranjana Ferrao

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Dr. Ranjana Ferrao
Assistant Professor, V.M. Salgaocar college of Law, Miramar

MLA 8
Ferrao, Dr. Ranjana. "STATUTORY CORPORATE SOCIAL RESPONSIBILITY IN INDIA." Int. j. of Social Science and Economic Research, vol. 4, no. 3, Mar. 2019, pp. 2292-2301, ijsser.org/more2019.php?id=169. Accessed Mar. 2019.
APA
Ferrao, D. (2019, March). STATUTORY CORPORATE SOCIAL RESPONSIBILITY IN INDIA. Int. j. of Social Science and Economic Research, 4(3), 2292-2301. Retrieved from ijsser.org/more2019.php?id=169
Chicago
Ferrao, Dr. Ranjana. "STATUTORY CORPORATE SOCIAL RESPONSIBILITY IN INDIA." Int. j. of Social Science and Economic Research 4, no. 3 (March 2019), 2292-2301. Accessed March, 2019. ijsser.org/more2019.php?id=169.

References
[1]. Case against Coca-Cola Kerala State: India available at http://www.righttowater.info/rights-in-practice/legal- approach-case-studies/case-against-coca-cola-kerala-state-india/accessed on 12/6/2018
[2]. It's time for Indian companies to act more ethically https://www.theguardian.com/global-development/poverty- matters/2011/feb/01/india-companies-corporate-social-responsibility
[3]. S. Agarwal, Corproate Social Responsibility in India, Sage publications, due to infections from unhealthy living practices, millions of children die every year before reaching the age of
[4]. The social message of importance of cleanliness and a healthy lifestyle are highlighted in this advertisement. In the advertisement, a man is walking on his hands, followed by his son Muthu. Slowly, they are accompanied by a big mob. The man, after walking for miles finally reaches a temple only to thank god and priest as his son has turned 5. There are no children in the village who have lived till the age of five. Visit Muthu and his village by clicking below
[5]. See Section 135 (5) Companies Act, 2013
[6]. See Rule 2(f) of the Companies (Corporate Social Responsibility Policy) Rules, 2014
[7]. Section 450, Companies Act 2013 (also attaching liability to other persons who are in default). Although it is not clear who is to enforce Section 135 from its wording, one can assume that it is the Ministry of Corporate Affairs. Note that if the violation is repeated within a 3 year period the fine can be doubled - Section 451, Companies Act 2013
[8]. https://www.futurescape.in/insights/responsible-business-rankings/
[9]. See Rule 4 Companies (Corporate Social Responsibility Policy) Rules, 2014
[10]. The activities are mentioned in the Schedule VII of the Companies Act, 2013
[11]. https://www.pwc.in/assets/pdfs/publications/2013/handbook-on-corporate-social-responsibility-in- india.pdfHandbook on Corporate Social Responsibility in India cii
[12]. A.Murray, J. F. J. Dillard, K. Haynes, Corporate Social responsibility : A Research Handbook, , Routledge, New York, 2013
[13]. N.Mitra, R. Schmidpeter, The Genesis of CSR Mandate in India: Demystifying the Chatterjee Model , Bhaskar Chatarjee and Nayan Mitra pp. 11-14 Corporate Social Responsibility in India Cases and Developments after the Legal Mandate, Springer International Publishing, Switzerland, 2017
[14]. Indian law requires companies to give 2% of profits to charity. Is it working? https://www.theguardian.com/sustainable-business/2016/apr/05/india-csr-law-requires-companies-profits-to-charity-is-it- working
[15]. Why the CSR law is not a success AneelKArnanihttps://www.livemint.com/Opinion/1wIQwFPRyRckBMg5IugW1K/Why-the-CSR-law-is-not-a-success.html

Abstract:
Nowhere in the world is Corporate Social Responsibility enforced by law by requiring a certain percentage of profits of a company to be spent on specified activities such as eradicating hunger, poverty and malnutrition, promoting preventive healthcare and sanitation, making available safe drinking water etc. India has become the first country in the world to enforce CSR by making provisions in the Companies Act, 2013 which requires companies having specified net worth or turnover or net profit to spend in every financial year at least 2% of average net profits of the company on specified activities such as eradicating hunger, poverty and malnutrition, promoting preventive healthcare and sanitation, making available safe drinking water etc. Socialism by Government of India has not worked. Hence India adopts the experiment of Socialism by corporate.