RoC Pune Imposes ₹5.03 Lakh Penalty On Clairvoyant India Pvt. Ltd. For Failing To Constitute CSR Committee
3 months, 3 weeks ago

RoC Pune Imposes ₹5.03 Lakh Penalty On Clairvoyant India Pvt. Ltd. For Failing To Constitute CSR Committee

Live Law  

The Registrar of Companies, Pune has imposed a penalty of ₹5.03 lakh on Clairvoyant India Private Limited and its directors for failing to constitute a Corporate Social Responsibility Committee, despite the company's net profit exceeding the threshold specified under Section 135 of the Companies Act, 2013. According to Section 135, companies with a net profit exceeding ₹5 crore in the preceding financial year are required to establish a CSR Committee consisting of at least three directors, including at least one independent director. Section 135 mandates that companies with a net worth of five hundred crore rupees or more, turnover of one thousand crore rupees or more, or a net profit of five crore rupees or more must constitute a Corporate Social Responsibility Committee consisting of at least three Directors, including one Independent Director. The company did not constitute a CSR Committee despite having a net profit exceeding the threshold set by Section 135 for the financial year ending March 31, 2020.

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Failure To Contribute CSR Fund: Registrar of Companies Imposes Rs. 1.06 Crore Penalty On Ganesh Green Bharat Limited And Its Director
5 months, 1 week ago

Failure To Contribute CSR Fund: Registrar of Companies Imposes Rs. 1.06 Crore Penalty On Ganesh Green Bharat Limited And Its Director

Live Law  

The Registrar of Companies, Ahmedabad has imposed a penalty of Rs. 1.06 Crore on Ganesh Green Bharat Limited and its director failing to contribute Corporate Social Responsibility funds during the financial years 2021-22 and 2022-23. Section 135 of the Companies Act, 2013 mandates that every company meeting certain financial thresholds must spend at least two percent of its average net …

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