Davangere/Delhi
Davangere MP Dr. Prabha Mallikarjun has sought detailed information from the Ministry of Corporate Affairs (MCA) regarding unutilised Corporate Social Responsibility (CSR) funds in the country. In her query, she requested specifics on unspent CSR amounts for the years 2022, 2023, and 2024, including annual details of funds transferred to unutilised CSR accounts, CSR expenditure from 2020 onwards, government projects supported through CSR contributions, and measures taken to ensure equitable distribution of CSR funds across states.
In response, the Ministry of Corporate Affairs clarified that under the Companies Act, 2013, any unspent CSR funds from ongoing projects must be transferred to the unutilised CSR account within 30 days and are required to be spent within the next three years. If the funds remain unspent even after three years, they must be transferred to the Schedule VII fund within 30 days. For CSR amounts not linked to ongoing projects, transfer to the Schedule VII fund within six months is mandatory.
The Ministry further explained that the planning, implementation, and evaluation of CSR projects are the responsibility of the CSR Committee of the respective company. The government does not provide directives on CSR expenditure for any particular sector or region. All CSR-related information submitted through the MCA21 portal is publicly accessible at www.csr.gov.in, the Ministry added.
Dr. Mallikarjun’s query highlights the importance of transparency and accountability in the utilisation of CSR funds and ensuring they reach the intended projects and communities efficiently.
