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Orchid Pharma Ltd's CSR Committee is preparing the CSR Policy. Which statement correctly reflects what section 135 requires of the Committee and the Board regarding the Policy?

The CSR Committee formulates and recommends the Policy, which must indicate activities in Schedule VII areas. The Board then approves it after considering the recommendation, discloses its contents in the Board's report and places it on the company's website, if any.

  1. AThe Committee formulates and recommends the Policy indicating activities in areas specified in Schedule VII; the Board approves it and places it on the company's website, if anyCorrect
  2. BThe Board formulates the Policy and the Committee approves it
  3. CThe Policy need only be filed with the Registrar and need not be disclosed in the Board's report
  4. DThe Committee approves the Policy and the Board only monitors it

Explanation

Section 135(3)(a) makes the Committee formulate and recommend the Policy, indicating activities in areas or subjects specified in Schedule VII. Section 135(4)(a) makes the Board approve it after considering the recommendations, disclose its contents in its report and place it on the website, if any. The roles in the other options are reversed or omit disclosure.

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