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CS Professional · Compliance Management, Audit and Due Diligence · Compliance Framework

Kaveri Foods Ltd has placed its CSR policy in full on its website. The Board wishes to avoid reproducing the whole policy in its Board's report. Under the second proviso to section 134(3), it will be sufficient compliance if the Board's report:

It is sufficient to state briefly the salient features of the policy and any change in it, and to give the web address where the complete policy is available. A mere mention of the policy's existence or only a web link does not meet the proviso.

  1. AMerely states that a CSR policy exists
  2. BAttaches the full policy as an annexure signed by two directors
  3. CSpecifies in brief the salient features of the policy and any change therein, and indicates the web address where the complete policy is availableCorrect
  4. DGives only the web address, without any summary

Explanation

The second proviso to section 134(3) says that where the policy under clause (e) or (o) is on the company's website, it is sufficient if the salient features and any change therein are specified in brief and the web address of the complete policy is indicated. A bare web address or a bare statement of existence is not enough.

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