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1. Expenditure on Disaster Management relief will now be
considered as an activity under the Corporate Social Responsibility
by the Ministry of Corporate Affairs (MCA).
Disaster relief can cover wide range of activities that can be
appropriately shown under various items listed in Schedule VII of
the Companies Act, 2013.
For example,
(i) medical aid can be covered under 'promoting health care
including preventive health care.'
(ii) food supply can be covered under eradicating hunger,
poverty and malnutrition.
(iii) supply of clean water can be covered under 'sanitation
and making available safe drinking water'.
2. Independent Directors on Company boards may soon have to
clear exams before being appointed as a Director for the company.
The exam is likely to be an online assessment covering the basics
of Indian Company law, markets and ethics. There will be a fixed
time frame to clear the exam however, the number of attempts will
not be restricted.
Compiled by: Adv. Sachi Kapoor | Concept & Edited by:
Dr. Mohan Dewan
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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