International Journal of Commerce and Management Research

International Journal of Commerce and Management Research


International Journal of Commerce and Management Research
International Journal of Commerce and Management Research
Vol. 4, Issue 6 (2018)

Understanding the corporate social responsibility


Dr. Zine Dnyandev Ekanath

Company can be defined as an association of persons coming together voluntarily to pursue a certain economic activity with the motive to make profit. The Indian companies act 1956 section3 (1) company registered under the company act. The relationship of the company beyond the legal existence to the socio-economic scenario is well summarized by Berle (1959) according to him; the company is not merely a legal institution. It is rather a legal device for the attainment of any social or economic end to a large extent this is done publicly and by being socially responsible. This brings us to the concept of corporate social responsibility (CSR) as corporations derive wealth from society. The company’s Act, 2013 (CA2013) has introduced path-breaking changes in Governances mechanisms, compliances and disclosures, appointment and scope of auditors, responsibilities of indepent directors, investor protection and mergers and acquisitions. Introduction of new concepts like corporate social Responsibility for the first time anywhere in the world line with global thinking on corporate giving for social causes.
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