Year End Review 2015: Ministry of Corporate Affairs

Question: A High Level Committee was constituted to suggest measures for monitoring the progress in implementation of Corporate Social Responsibility (CSR) policies by companies at their level and by the Government, it was headed by-

• Anil Baijal
• Pradeep Mathur
• K Seth
• Ashwani kumar

Ans (a)

Related facts:

• On 18 December 2015, Ministry of Corporate Affairs issued the Year End Review.
• The Companies (Amendment) Act, 2015addresses the practical difficulties faced by the companies/stakeholders as brought out by Industry Chambers and other agencies in complying with certain provisions of the Companies Act, 2013.
• It is aimed at facilitating ‘ease of doing business’
• Barring sections 13 and 14 of the Amendment Act. All the sections of the Amendment Act have been brought into force w.e.f. 29^thMay, 2015.
• The Ministry has, on 5^thJune, 2015, constituted a Companies Law Committee for the following purposes-

1. To make recommendations to the Government on issues arising from the implementation of the Companies Act, 2013
2. To examine the recommendations received from the Bankruptcy Law Reforms Committee, the High Level Committee on CSR, the Law Commission and other agencies.

• The Committee is headed by Secretary of Ministry of Corporate Affairs.
• The Ministry, on 5^thJune, 2015 issued the final notifications under Section 462 of the Companies Act, 2013 (Act), which provide for exemptions under various provisions of the Act to (i) Private Companies; (ii) Government Companies; (iii) Section 8 Companies and (iv) Nidhis.
• A High Level Committee was constituted under Chairmanship of Shri Anil Baijal, former Union Secretary, to suggest measures for monitoring the progress in implementation of Corporate Social Responsibility (CSR) policies by companies at their level and by the Government.
• The Committee submitted its report on 22^ndSeptember, 2015.

Reference:

http://pib.nic.in/newsite/PrintRelease.aspx?relid=133553