CSR-10 Companies with the Highest Corporate Social Responsibility Estimation (KEY IJP************434)

• Ranjeet Singh

Abstract

If theconceptofcorporatesocial responsibility (CSR) has to be implemented meaningfully by companies, then the stakeholders impacted by their business should also have a say in defining what constitutes their social responsibility. Just specification of the amount that corporate should spend and activities they should undertake to fulfil their CSR obligation by the government is not enough. While corporate social responsibility (CSR) wasfor a long time considered a voluntary matter, to be exercised by companies in the interests of stakeholders, it is increasinglyacquiring legal status, with several efforts to formalise CSR obligations. Somecountries have incorporated facets ofCSR in their basic corporate laws as a means to exhort companies to fulfil their obligations towards non-shareholder constituencies. However, nowhere has CSR acquired as much legal status as in India, where recent efforts to reform company law culminated inlegislation that is relatively prescriptive about the obligations of companies to act in a manner that benefits society.