Multiple choice

A corporate social responsibility committee of the board has to be constituted for every company having

  1. net worth of rupees five hundred crore or more during any financial year

  2. turnover of rupees one thousand crore during any financial year

  3. net profit of rupees five crore or more during any financial year

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Section 135 of the Companies Act, 2013 states that every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or net profit of rupees five crore or more during any financial year shall constitute a corporate social responsibility committee of the board consisting of three or more directors, out of which at least one director shall be an independent director.

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