New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Where the amount to be spent by a company for the

    Corporate Social Responsibility Policy _____________, the requirement for the constitution of the Corporate Social Responsibility Committee shall not be applicable and the functions of such Committee provided under this section shall, in such cases, be discharged by the Board of Directors of such company
    A Does exceed fifteen lakh rupees Correct Answer Incorrect Answer
    B Does exceed fifty lakh rupees Correct Answer Incorrect Answer
    C Does not exceed fifteen lakh rupees Correct Answer Incorrect Answer
    D Does not exceed fifty lakh rupees Correct Answer Incorrect Answer
    E Does not exceed fifty crore rupees Correct Answer Incorrect Answer

    Solution

    Companies Act Section 135. Corporate Social Responsibility: (9) Where the amount to be spent by a company under sub-section (5) does not exceed fifty lakh rupees, the requirement under sub-section (1) for constitution of the Corporate Social Responsibility Committee shall not be applicable and the functions of such Committee provided under this section shall, in such cases, be discharged by the Board of Directors of such company.

    Practice Next

    Relevant for Exams: