Corporate Social Responsibility: From ‘Comply or Explain’ to ‘Comply or Imprisonment’

Law

Corporate Social Responsibility is not a fresh term after the MCA’s initiative. Previously only a few companies use to do something for the betterment of society. But there is a need to rethink and redefine the social value added of entrepreneurial activities to society. In this paper an attempt has been made to evolve social role of entrepreneurship. Over the years Corporate Social Responsibility (CSR), a concept comparatively new to India, is rapidly picking up pace. But compliance to the provision was becoming lenient as exemption provisions were laid down. Recent amendment to the statute will going to bring a revolutionary change. Stringent policy made with inexcusable penal provision would the compliance inevitable.

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