Discussion
Which of the following company is required to constitute a corporate social responsibility committee ?
Answer: A
The answer is every company having net worth of Rs. 500 crores or more.
Section 135(1) of the Companies Act, 2013 requires every company having a 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, during the immediately preceding financial year, to constitute a Corporate Social Responsibility Committee of the Board.
The other figures confuse the thresholds: Rs. 1,000 crore is the turnover test, not the net worth test, Rs. 5 crore is the net profit test, and Rs. 100 crore is not a CSR threshold at all.
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