The Indian Institute of Corporate Affairs (IICA) and Grant Thornton India LLP on 3 June 2014 signed a memorandum of understanding (MoU) in Delhi. The MoU was signed to develop capacity of the Indian companies for effective implementation of the CSR (Corporate Social Responsibility) Rules laid in Section 135 of the Companies Act 2013.
The MoU was signed by Bhaskar Chatterjee, DG & CEO of IICA and Vikesh Harish Mehta, partner of Grant Thornton Indian LLP.
The rules and the agenda of the CSR Rules of the Companies Act 2013 will impart knowledge and awareness of the corporate that how they can help in national development.
The Companies Act 2013
The Companies Act 2013 that replaced the Companies Act 1956 received assent of the President on 29 August 2013 after being passed by the Parliament. The Act consolidated and amended the law related to companies and was notified in the Official Gazette on 30 August 2013. Some of the provisions of the Act have been implemented by a notification published on 12 September 2013. Some provisions of Companies Act, 1956 is still in force.’
The Companies Act of 1956 replaced the first Companies Act that was created in 1919 (the pre-independent India). The Act of 1956 has been amended 25 times in all these years since its formation.
Where: in Delhi
What: signed MoU
When: 3 June 2014