Comments
In a first in India’s public relations consultancy business, Concept PR has announced the launch of its CSR wing, called Concept Community Relations (CR).
“With the new Companies Act making it mandatory for corporates to make CSR spend of at least 2 per cent of their net profits, we expect the community and social development landscape to witness a sea change. This also offers an opportunity for corporates to give back to the society,” Vivek Suchanti, Chairman and Managing Director of Concept Group, said in a statement here.
Concept CR will rope in select NGOs and work on creative ways of making the CSR spend meaningful.
As per the new Companies Bill passed, a company having a minimum net worth of Rs 500 crore, turnover of Rs 1,000 crore, or a net profit of Rs 5 crore shall constitute a CSR Committee of the Board consisting of three or more directors, out of which at least one director shall be an independent one. The company will ensure expenditure of at least two per cent of the average net profits on CSR activities.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.