Photo of Saloni Shroff

Partner in the General Corporate practice at the Mumbai office of Cyril Amarchand Mangaldas. Saloni has experience and focuses on corporate advisory and transactional matters, which mostly include Private Equity and M&A transactions. She has represented many large corporate houses, promoters, and private equity funds in M&A transactions and foreign private equity investments. These include transactions in the education/edutech and digital media sectors. She brings to the table experience of not only structuring and closing numerous investor driven transactions, but also of undertaking the negotiation of promoter/sell-side requirements on several occasions. She can be reached at saloni.shroff@cyrilshroff.com

Allocation of CSR Funds: Need for more equitable distribution

Context

The Ministry of Corporate Affairs (“MCA”) introduced the concept of Corporate Social Responsibility (“CSR”) for the first time through the Voluntary Guidelines on CSR, 2009. These guidelines encouraged companies to formulate policies to undertake CSR, provide for its strategic planning and a roadmap for its CSR initiatives. As a mandatory legal requirement, CSR was first codified in Section 135 of the Companies Act, 2013 (“CA 2013”). As recognized in the 21st Report of the Standing Committee on Finance on the Companies Bill, 2009, this was the first time in India, and also probably in the world that CSR was being introduced as a mandatory requirement.Continue Reading Allocation of CSR Funds: Need for more equitable distribution