The Ministry of Corporate Affairs on 24th August 2020 has published the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020 to further amend the Companies (Corporate Social Responsibility Policy) Rules, 2014.
Through this amendment, the following activities mentioned below have been notified under the CSR policy.
Any company engaged in research and development (R&D) activity of new vaccine, drugs and medical devices in their normal course of business may undertake research and development activity of new vaccine, drugs and medical devices related to COVID-19 for financial years 2020-21, 2021-22 and 2022-23 subject to the conditions that, such research and development activities shall be carried out in collaboration with any of the institutes or organisations mentioned in item (ix) of Schedule VII to the Act and the details of such activity shall be disclosed separately in the Annual Report on CSR included in the Board’s Report.
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