Corporate social responsibility in sports

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Corporate social responsibility in sports

There are many big entities who have been actively engaged in the CSR activities but unfortunately the number is relatively less. Turning the CSR from voluntary activities to the mandated responsibilities, also governed by the bundle of regulations as follows: Company includes foreign company with branches or project in India having: Minimum net worth of rupees Crore.

Turnover up to " Crore" having a net profit of at least '5crore'. The Committee shall consist of minimum 3 three including 1 one Independent Director, however in case of Private Company or the Company, which is not required to appoint Independent Director on board, or Foreign Company the committee can be formulated with 2 two directors.

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If Company ceases to fulfill the eligibility criteria for three consecutive years, then the company is not required to comply until the company will meet the eligibility criteria once again. But an exemption has been given to the Companies that do not satisfy the above threshold for three consecutive years.

Brief on CSR Activities as prescribed under Schedule VII of CA, Objective to efface the daily life segments including poverty, malnutrition and hunger while enhancing the standard of living and promoting the facets of better health care and sanitation.

Initiative to promote the different segments of education including special education and programs to enhance the vocation skills for all ages like children, women, elderly and conducting other livelihood enhancement projects.

Aim to bring the uniformity in respect of different sections of the society to promote gender equality and other facilities for senior citizens and developing hostels for women and orphans and taking initiative for empowering women and lowering inequalities faced by socially and economically backward groups.

Corporate social responsibility in sports

Elevate the segment of flora and fauna to bring the ecological balance and environmental sustainability in respect of animal welfare, conservation of natural resources and ago forestry while maintaining the quality of air, water and soil.

Enhancement of Craftsmanship while protecting art and culture and measures to restore sites of historical importance and national heritage and promoting the works of art and setting up of public libraries.

Steps to bring worthy to the part of war windows, armed force veterans and their departments. Sports programs and training sessions to enhance the level of rural sports, nationally recognized sports, Paralympic sports and Olympics sports.

Favoring to Prime Minister's National Relief Fund and contribution to other fund set up by the central government to promote socio-economic development and welfare of the schedule castes and Schedule Tribes and for supporting backward classes, minorities and women.

To uplift the technology of incubator that's comes under academic institutions and which are approved by the Central Government. Introducing varied projects for Rural Development. The below activities doesn't include under the CSR activities of the Company. Business run in the normal course.

Outside the territory of the India or abroad. For the welfare of the employees and their families. The above CSR activities shall be undertaken by the Company, as per its stated CSR policy, in consonance with the new or ongoing projects excluding activities undertaken in pursuance of its normal course of business.

Net Profit, prescribed expenditure and details of its spending, reason in case of failure etc.

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This means all the Companies falling in the aforesaid criteria needs to ensure CSR compliance but it is debatable to say that the same is for welfare of the society or the companies are doing it just to avoid penalties.

CSR stands to support the Company's Vision as well as directions to what Organization stands for and will sustain its clients. The content of this article is intended to provide a general guide to the subject matter.

Specialist advice should be sought about your specific circumstances.Bharat Petroleum is among the leading oil and gas companies in India. The organisation aims to provide only the purest oil India by virtue of using its own highly developed refineries.

BharatGas is . Disney. Disney is a name known around the world, and though the company has been around for a long time, its reputation is still a glowing one. The Walt Disney Company largely focuses on a few. Sports. SPH Schools Relay Championships; SPH Foundation National Para-Swimming Championships; SPH Foundation National Primary Schools Tchoukball Championships.

Gujarat CSR Authority. To catalyze sustainable growth by creating an enabling environment for the corporate sector to work in partnership with the Government, Non-Government, and Civil Society Organizations, as well as Community Organizations in the field of Corporate Social Responsibility (CSR) has now assumed a significant importance.

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