Socio legal outlook of corporate social responsibility and practices in India
Shrikant P Thombre
Corporate Social Responsibility is a self-regulatory form of corporate conscience included into business models whereby it is guaranteed that the business is keenly accommodating with the force of law and ethical standards according to national and international norms. The term (CSR) has been in use since the 1960s and maintained its usage extensively to shield legal and moral responsibility of Corporate World. Ever since its inception this sustainability strategy has been opted by companies to reflect their competitiveness. Their overall aim is to impact the society positively while get the most out of the creation of shared value for the shareholders, stakeholders and even employees. This Research Paper going to critically analysis sec. 135 of The Companies Act 2013, along with these legal Compliances the researchers look into the subject from Socio Legal Prospective. CSR is closely linked with the principle of sustainable development, which argues that enterprises should make decisions based not only on financial factors such as profits or dividends but also based on immediate and long term social and environmental consequences of its activities. CSR has a significant role in controlling the perils of uncontrolled development, satisfying the needs of the present generation and at the same time ensuring that the resources of future generations is not jeopardized.