The MCA has notified the Companies (CSR Policy) Amendment Rules, 2021 on 22 January 2021. Along with the Amendment Rules, the amendments in section 135 of the Companies Act, 2013, that were bought in by the Companies Amendment Act, 2019 as well as Companies Amendment Act,2020, have also been notified. As a result of this, there is now a paradigm shift in the CSR landscape and in this newsflash we have tried to capture the key amendments introduced in the CSR Rules, which inter-alia, includes, transferring unspent CSR amount to Unspent CSR Account or a separate Fund, as specified under Schedule VII of the Act, penal provisions for non-spending of CSR Amount on the Company as well as on every officer in default and the like.

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