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WebJun 15, 2024 · The Companies (CSR Policy) Rules, 2014 (‘CSR Rules’) defines an ‘on-going project’ as a multi-year project undertaken by a company in fulfilment of its CSR obligations, having timelines not exceeding three years excluding the financial year in … WebSep 22, 2024 · Under the CSR rules, amounts remaining unspent in a financial year relating to an ongoing project as well as any unutilised surplus arising from the CSR activities are required to be deposited by the company in a special bank account called the 'Unspent Corporate Social Responsibility Account'. The amended rules now provide that a … inc 14 mca
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WebAnswer: Pursuant to rule 4(3) of the Companies (CSR Policy) Rules, 2014, a company can engage international organisations for the limited purposes of designing, monitoring, and … Web24. What is the responsibility of the Board in case any ongoing project is undertaken by the company? 12 25. What will happen if the company fails to spend the amount retained for ongoing projects? ..... 12 26. Are the any restrictions on utilization of the money in the special account or can it be used for Web2013 (“the Act”), Corporate Social Responsibility (CSR) became a norm in India. CSR provision enshrined under the Act, being a unique provision of law, listed India amongst one of the few countries in the world where CSR is mandated under the Statute. Introduction of CSR provisions under the Act was a significant legislative effort inc 14 and inc 15