What is the applicability of Section 135 of the Companies Act, 2013? Section 135 is applicable to every company or not?
Section 135 explains about Corporate Social Responsibility: • Every company having a net worth of rupees 500 crore or more OR A turnover of rupees 1000 crore or more OR Net profit of rupees 5 crore or more during any financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of 3 or more directors. One director shall be an independent director. • The Board’s report u/s 134 shall disclose the composition of the Corporate Social Responsibiltiy Committee.