The Ministry of Corporate Affairs (MoCA) on March 11, 2025, notified regarding the adequate provisions under the Companies Act, 2013 for strengthening corporate governance and transparency in the management of companies.
The following has been stated namely: -
• It states that the Companies Act, 2013 ensures corporate governance, transparency, and accountability by mandating financial disclosures, compliance with accounting standards, and regulatory filings.
• It also establishes a legal framework for Corporate Social Responsibility (CSR) under Section 135, requiring eligible companies to undertake CSR activities as per Schedule VII and disclose expenditure in financial statements.
• Further, it states that companies with websites shall disclose CSR details for transparency, and any CSR violations are addressed per the Act, ensuring accountability and effective fund utilization.
[Press Release id: - 2110416]
