An action oriented approach for strengthening the law and policy framework to perform the company s liability under the concept of corporate social responsibility for rural development with special reference to district Bathinda Punjab

Abstract

When India enacted its new Companies Act in 2013, repealing the old Companies Act, 1956, it drew worldwide attention, due to the incorporation of mandatory Corporate Social Responsibility (CSR), hailed as a bold experiment at the time. Section 135, The Companies Act, 2013 and its accompanying Companies (CSR) Rules 2014, have stirred a comprehensive debate on extension of accountability and responsibilities of a corporation to the society and other stakeholders. Under these provisions, companies meeting a specified financial criterion are required to spend a part of their profits on social welfare activities prescribed under the Schedule VII of the Act, which provides a list of CSR activities on which companies can spend their money. newlineThis research thesis is an effort to provide challenges withthe compliance and implementation of the CSR legal framework by companies located in the geographical region of Bathinda, Punjab. In addition, this study also provides an examination of the efficacy of the enforcement of the Indian CSR law through the lens of its intended beneficiaries. Due to the large-scale industrial activity, the local people are facing a number of health and other issues. Hence, this study aims to understand the impact of the operational activities of the industries located in the Bathinda region from the local people, and consequently, whether the CSR activities of these industries have made any beneficial changes in the lives of the local people residing in the vicinity of these industries. This research study further newlinev newlineuses comprehensive CSR disclosure analysis supported with in depth interviews of concerned stakeholders to provide information on the compliance and implementation of CSR law in India. This research thesis is structured as follows: chapter I of the thesis provides the theoretical framework to this study and highlights the research questions, aims and objectives, significance of the research and its limitations. Chapter II is about current literature on CSR worldwide and India and its gaps