NLC India Spends Rs 45 cr on CSR in FY19

Neyveli: NLC India Ltd spent over Rs 45 crore on Corporate Social Responsibility (CSR) activities during the financial year (FY) 2018-19 (Apr-Mar), the company declared in its annual report. This amount was around 2.19% of the average net profit at Rs 2,258.63 crore, NLC made in the last three financial years. 

 

This was over and above the prescribed limit of 2% of the amount of the net profit for the last 3 financial years, mandated in the Indian Companies Act, 2013. The Companies Act 2013 prescribes 17 areas of CSR activity in Schedule VII of the act. Section 135 of the Act lays down rules for CSR activity in India.