tag:blogger.com,1999:blog-3202774368551476669.post708069194826380814..comments2023-09-15T16:21:31.980+05:30Comments on INDIAN CORPORATE LAW: Business Responsibility ReportingUmakanth Varottilhttp://www.blogger.com/profile/12438677982004444359noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3202774368551476669.post-20253906370322725062012-08-22T09:20:36.607+05:302012-08-22T09:20:36.607+05:30Even in the UK this debate rages. The global reces...Even in the UK this debate rages. The global recession has made companies fight against further legislation on CSR.DigitalAsianhttp://www.ideaindia.comnoreply@blogger.comtag:blogger.com,1999:blog-3202774368551476669.post-28377761032082017122012-08-21T06:34:33.308+05:302012-08-21T06:34:33.308+05:30According to one’s understanding, the basic propos...According to one’s understanding, the basic proposition whether or not CSR deserves to be made mandatory itself is being hotly debated, and remains to be authoritatively concluded. Moreover, the Guidelines said to have been issued by the MCA, pending giving it a reading, but going by its nomenclature, appears to suggest that the concerned Ministry, exclusively clothed with executive powers in such matters, is inclined more against the idea of making CSR ‘mandatory’. In the light of the attendant uncertainties, therefore, one is miserably confused on the propriety or otherwise of SEBI in issuing a circular that “the requirement to include business responsibility reports as part of the annual report is mandatory for the top 100 listed entities..” To be precise, the gravest doubt is, - has not SEBI acted, may not be without precedents, patently in excess of its powers, ‘jumped the queue’ (or ‘the gun’!), so to say? Should the expert answer, after an insightful consideration, be “YES”, then the binding nature of the SEBI’s circular becomes highly disputable , nay questionable- is that not so?vswaminoreply@blogger.com