Corporate Social Responsibility (CSR) & Its Implementation towards Good Governance

We are living in a world surrounded with numerous problems related to environment and society. CSR
(Corporate Social Responsibility) is a means to sort out these problems to some extent because business is
a part of society. Any contribution towards welfare of society is called as Corporate can no longer limit
them in using resources of society and they have to be socially responsible corporate citizens and must also
contribute to the social good. Corporate Social Responsibility is now accepted as a means to achieve
sustainable development of an organization. In the present time, CSR has become a significant sector of
modern corporate research theory and the growth of activities related to CSR in all over the world is
remarkable. According to Company Act, 2013, those companies which are within the domain of section
135 of Companies Act 2013 must spend 2% of their net profits towards CSR, in the fields as specified under
schedule VII, which made Indian companies to consciously work towards CSR. This research paper is based
on the hypothesis, Compliance of provision relating to CSR under section 135 of the Companies Act 2013
& Companies (Corporate Social Responsibility Policy) Rules, 2014, both in letter and spirit would provide
a way for Corporates, to achieve Corporate Sustainability, through promoting Good Governance to all
stakeholders with in the society, in which they or their business activities are running.