Empowering india through imperative contribution from corporate houses for better tomorrow

‘Rich are getting richer and poor are getting poorer’

The widening space between the two sections or more appropriately the two ends of the society has compelled the authorities to amend the laws and making it obligatory for the companies to contribute for the better tomorrow and sustainable development of the deprived, underprivileged section of the society, environment and nation at large. The corporate social responsibility is not merely an act of voluntary philanthropy; instead, it is a responsible act to have positive impact on environment, economy, humanity and stakeholders. As per the new Companies Act 2013, it is imperative for profit-making corporate houses to repay the nation by contributing a small pie of profit in the stronger nation building as part of their responsibilities and duties. This paper attempts to evaluate the Section 135 of Companies Act 2013 and relevance of the activities specified in the Schedule VII of the act in the current scenario and identify pitfalls of Section 135 of Companies Act 2013.