MCA APPRECIATES BUSINESS COTERIE FOR THE SUCCOUR ON COMBATING COVID-19 AND ALSO ALLOWED THE COTERIE TO SPEND THE SURPLUS CSR FUNDS FOR SETTINGUP COVID CARE FACILITIES WHICH IS CONSIDERED AS AN ELIGIBLE CSR ACTIVITY.

MCA APPRECIATES BUSINESS COTERIE FOR THE SUCCOUR ON COMBATING COVID-19 AND ALSO ALLOWED THE COTERIE TO SPEND THE SURPLUS CSR FUNDS FOR SETTINGUP COVID CARE FACILITIES WHICH IS CONSIDERED AS AN ELIGIBLE CSR ACTIVITY.

MCA issued clarification on spending of CSR funds. Funds utilized for Setting up makeshift hospitals and temporary covid-19 care facilities are eligible to be considered as CSR activities under companies act,2013.  

GENERAL CIRCULAR NO. 05/2021 is issued as clarification on this matter to the business coterie.  Previously clarification was given that Spending of CSR funds for Covid-19 is an eligible CSR Activity, now its scope is further expanded and any CSR funds spent on setting up makeshift hospitals and temporary Covid-19 care facilities by companies would also be considered as eligible CSR activity. 

MESSAGE TO BUSINESS COTERIE 

COMPANIES are also advised to undertake the activities in consultation with respective governments and comply with CSR policies as per ministry. 

Second Wave Covid surge requires more care and special activies from Business coterie to provide  immediate solutions to the citizens . 

Setting up covid care facilities with isolation beds or a combination of isolation and oxygen beds would be helpful to the covid victims as number of cases are increasing as time is passed and there may be cases in the vicinity of the business area. 

Business coterie small efforts as specified above in times of hardship is required to the citizens safety and wellbeing. Facilities arranged would be a great relief for the covid victims too.  Governments and Business coterie combinedly can achieve greater results by tackling this unprecedented calamity.

GET MORE CLARIFICATION ON CSR FUNDS SPENDING BY READING THE  GeneralCircularNo5_22042021.pdf (mca.gov.in)