Ayush Power Limited has reported a net profit of 6 crore, 7.5 crore and 3 crore for the financial year(s) ended on March 2017, March2018 and March 2019 respectively. The board’s report of the companyfor the year ended March 2020 did not disclose the composition of the CSR Committee on the grounds that company is not required to constitute CSR committee as net profit during the immediately preceding financial year is less than the statutory requirements laid down in section 135. You are required to examine in the given scenario whether the act of noncomposition and non- disclosure of the composition of CSR committee in the Board’s Report is valid in law?
Ayush Power Limited has reported a net profit of 6 crore, 7.5 crore and 3 crore for the financial year(s) ended on March 2017, March2018 and March 2019 respectively. The board’s report of the companyfor the year ended March 2020 did not disclose the composition of the CSR Committee on the grounds that company is not required to constitute CSR committee as net profit during the immediately preceding financial year is less than the statutory requirements laid down in section 135. You are required to examine in the given scenario whether the act of noncomposition and non- disclosure of the composition of CSR committee in the Board’s Report is valid in law?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Ayush Power Limited has reported a net profit of 6 crore, 7.5 crore and 3 crore for the financial year(s) ended on March 2017, March2018 and March 2019 respectively. The board’s report of the companyfor the year ended March 2020 did not disclose the composition of the CSR Committee on the grounds that company is not required to constitute CSR committee as net profit during the immediately preceding financial year is less than the statutory requirements laid down in section 135. You are required to examine in the given scenario whether the act of noncomposition and non- disclosure of the composition of CSR committee in the Board’s Report is valid in law?
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