ROC Kolkata penalized a company and its directors for the late transfer of unspent CSR amounts to the Swachh Bharat Kosh, reinforcing compliance with Section 135(7).
ROC Imposes CSR Penalty for Delay in Unspent CSR Fund Transfer
ROC Kolkata has penalized a company and its directors for delays in transferring unspent corporate social responsibility (CSR) funds to the Swachh Bharat Kosh. The order underscores the strict enforcement of compliance timelines as specified under Section 135(7) of the Companies Act, 2013.
This ruling serves as a reminder of the legal obligations companies have regarding CSR contributions and the importance of transferring unspent funds as mandated. Non-compliance not only attracts financial penalties but could also tarnish a company’s public image and standing.
Legal professionals should counsel clients on CSR compliance to ensure timely and efficient management of CSR funds and avoid penalties associated with delays.
Citations
- Company Name v. ROC Kolkata (2026) N/A
