eCite Digital Repository

Legislated corporate social responsibility (CSR) in India: the law and practicalities of its compliance

Citation

Jumde, A and Plessis, JD, Legislated corporate social responsibility (CSR) in India: the law and practicalities of its compliance, Statute Law Review, 20, (20) pp. 1-28. ISSN 0144-3593 (2020) [Refereed Article]

Copyright Statement

© The Author(s) 2020. Published by Oxford University Press. All rights reserved.

Abstract

When India enacted the Companies Act, 2013, it became one of the few countries of the world to make Corporate Social Responsibility (CSR), a legal obligation for a large number of Indian companies. Using a comprehensive analysis of companiesí CSR disclosures and the interviews of relevant stakeholders, this article provides a birdís-eye view on the major issues plaguing the current regulatory framework on CSR in India. In addition, this article highlights the major differences between privately owned and government companies on their motivations, approaches and challenges to the implementation and enforcement of CSR law of India. This article finds that the Indian CSR regulations are excessively broad and provide wide flexibilities that are possibly being misused, and hence, need legislative amendments to make them more concise, and improve accountability and transparency. From a broader corporate law perspective, this article finds that while the current company law in India may have adopted a more stakeholder-centric approach by its construction, the approach of many companies towards the enforcement and implementation of CSR and the law remains essentially shareholder centric. In light of the above observations, the article suggests that the existing regulatory framework needs to be strengthened with several legislative measures such as stricter auditing and monitoring measures for third-party implementing agencies and pre-and post-project impact assessment mechanisms.

Item Details

Item Type:Refereed Article
Keywords:CSR, corporate governance, company law
Research Division:Law and Legal Studies
Research Group:Commercial law
Research Field:Corporations and associations law
Objective Division:Expanding Knowledge
Objective Group:Expanding knowledge
Objective Field:Expanding knowledge in law and legal studies
UTAS Author:Jumde, A (Dr Akanksha Jumde)
ID Code:149830
Year Published:2020
Deposited By:Law
Deposited On:2022-04-14
Last Modified:2022-05-13
Downloads:0

Repository Staff Only: item control page