Mass scale production & distribution of Nat’l Flags to be considered as CSR Activity: ROC J&K & Ladakh
SRINAGAR: As part of ‘Har Ghar Tiranga’, campaign under the aegis of Azadi Ka Amrit Mahotsav, the office of Registrar of Companies (ROC) today clarified that spending of Corporate Social Responsibility (CSR) funds for the activities related to this campaign are eligible CSR activities under item no (ii) of Schedule VII of the Companies Act, 2013 pertaining to promotion of education relating to culture.
It was given out that the activities related to this campaign eligible under CSR include mass scale production and supply of the National Flag, outreach and amplification efforts and other related activities,
Registrar of Companies (ROC) offices for UTs of J&K and Ladakh referred to the circular issued by CSR Cell of the Union Ministry of Corporate Affairs for the same.
It is pertinent to mention that Section 135 of the Companies Act, 2013 makes it mandatory for a certain set of companies having a specified net worth, turnover or net profits to do social spending in specified areas as a part of CSR.