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CS Professional · Environmental, Social and Governance (ESG) - Principles and Practice · Board Disclosures and Website Disclosures

Anand Retail Ltd has a CSR policy and a directors appointment and remuneration policy, both published in full on its website. The Board wants to avoid reproducing the full policies in its Board's report. What is sufficient compliance for these policies under Section 134?

It suffices to state the salient features of each policy and any change in brief in the Board's report, and to give the web-address where the complete policy is available. A bare web link, or silence, does not meet the second proviso.

  1. ANothing need be said in the Board's report, since the policies are public on the website
  2. BAttach the full text of both policies as annexures
  3. CSpecify the salient features and any change in brief, and indicate the web-address of the complete policyCorrect
  4. DMention only the web-address, without any salient features

Explanation

The second proviso to Section 134(3) says that, where the clause (e) or clause (o) policy is on the website, it is sufficient to specify the salient features and any change in brief and to indicate the web-address. A bare link, as in option D, falls short of this.

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