Question

Identify the correct statement with respect to Corporate Social Responsibility under the Companies Act, 2013:

• A. A company having net worth of five hundred crores or more in the immediately preceding financial year is required to constitute a CSR Committee.
• B. CSR Committee consists of four or more directors.
• C. CSR Committee is formed if the net profit of a company exceeds five crore or more during the preceding three financial years.
• D. CSR Committee is required to have a woman director as a member.

Answer 1

Answer: (A)

A company having net worth of five hundred crores or more in the immediately preceding financial year is required to constitute a CSR Committee.

Answer 2

The correct option is (A):A company having net worth of five hundred crores or more in the immediately preceding financial year is required to constitute a CSR Committee..