Indian Polity · Polity
What is the key difference regarding Corporate Social Responsibility (CSR) provisions between the Companies Act, 1956 and the Companies Act, 2013?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The 2013 Act explicitly mandates CSR spending and reporting for qualifying companies, whereas the 1956 Act had no such statutory CSR provision✓
- 2The 1956 Act mandated CSR for all companies, whereas the 2013 Act removed the CSR requirement completely
- 3Both the 1956 and 2013 Acts explicitly prohibit companies from engaging in CSR activities
- 4The 1956 Act mandated CSR only for private companies, whereas the 2013 Act mandates it only for One Person Companies
Correct answer
The 2013 Act explicitly mandates CSR spending and reporting for qualifying companies, whereas the 1956 Act had no such statutory CSR provision
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