Companies required to file Form CSR-2 for FY 2020-21 before 31st March 2022
Ministry of Corporate Affairs (MCA) has issued Notification Dated 11th February 2022 requiring companies covered under section 135(1) [i.e., having Net Worth of Rs. 500/- crore or more or Turnover of Rs. 1,000/- crore or more or Net Profit of Rs. 5 crore or more] to furnish a report on Corporate Social Responsibility (CSR) in Form CSR-2 to the Registrar of Companies (ROC) for the preceding financial year (2020 – 21) and onwards as an addendum to Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS), as the case may be.
Also, for the preceding financial year (2020-21), Form CSR-2 should be filed separately on or before 31st March 2022, after filing Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS), as the case may be.
The Notification and format of Form CSR-2 can be viewed at:
https://www.mca.gov.in/bin/dms/getdocument?mds=adQPpN3U8Y7Llcmy0C8FvA%253D%253D&type=open
Form CSR-2 seeks details such as:
- Whether the CSR Committee has been constituted, the number of directors composing the CSR Committee and the number of meetings of CSR Committee held during the year;
- Whether the company has a website and whether the composition of CSR committee, the CSR Policy and the CSR projects approved by the board are uploaded on the company’s website;
- Whether Impact assessment (if applicable) of the CSR projects is carried out;
- Whether CSR amount for the financial year has been spent and if so, whether the CSR amount has been spent against: ongoing projects, other than ongoing projects, Both (ongoing and other than ongoing projects);
- Details of CSR amount spent against ongoing projects for the financial year and the number of ongoing Projects for the financial year;
- Details of transfer of Unspent CSR amount for the financial year to specified government funds;
- Specify the reason(s) why the company has failed to spend two per cent of the average net profit as per section 135(5);
- Details of amount spent against new ongoing CSR project in the financial year.
Form CSR-2 is required to be digitally signed by the Director of the Company.