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 wi...