Corporate Social Responsibility Disclosures in India: An Evidance from Selected Companies
AbstractGovernment of India made mandatory for companies to undertake CSR activities under the Companies Act 2013 w.e.f.1st April 2014. This act is applicable to those companies which have a net profit of Rs. 5 crore or a net worth Rs. 500 crore or an annual turnover of Rs. 1000 crore or more. The purpose of this mandate is to make more efficient the charitable activities and ensure more accountability and transparency. However, prior to new Companies Act 2013, spending on CSR and disclosing the details of CSR was arbitrary. Section 135 of the Companies Act has made mandatory to all eligible companies to disclose the details pertaining to CSR policy in the directors’ report. However, there are certain details which are not mandatory to disclose in the CSR policy of the company. These details are the qualitative aspects of CSR. The main object of this study is to examine the qualitative aspects of CSR of Indian companies. This study is based on the secondary data taken from the surveys of the various agencies for the year 2014-15 and 2015-16. The paper investigates the qualitative aspects used in the study. The analysis shows that most of the companies are making efforts to provide the required information which is qualitative in nature. It was also found that some companies disclose the information which is not mandatory. These findings can assist the policy makers to ensure that the Indian companies have properly been disclosing the details relating to CSR policy in the directors’ report.
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