RCBW Seeks CSR Partnerships with Corporates

Rotary Club of Bombay West, one of the premier rotary clubs of India which recently celebrated its 61^st anniversary, has taken a first step towards inviting corporates to partner with them to execute community service projects under the newly introduced CSR initiatives by the Government of India.

As we are aware, the Indian Companies Act, 2013 has made it mandatory for companies having a net worth of rupees Indian Rs.500 crore or more or a turnover of Indian Rs.1000 crore or more or a net profit of Indian Rs.5 crore or more should mandatorily spend at least 2% of last 3 years’ average net profits on CSR (Corporate Social Responsibility) activities as specified in Schedule VII of the said Act. The rules made thereunder came into effect from 1 April 2014. CSR refers to the way that businesses are managed to bring about an overall positive impact on the communities, cultures, societies and environments in which they operate.

At an interactive session organized by RCBW on May 28, 2015 at Rotary Service Centre, Juhu, Mumbai where invitees from several corporates were present, CA Sandeep Bhalla representing KPMG gave an overview of the CSR obligations and guided the audience on how to implement and be compliant with the CSR provisions of the Act.  Queries raised by the representatives of the Corporates were answered to their satisfaction.

Incoming President Shirish Rege of RCBW made a slick presentation on the work done in the area of community service, its flagship projects as well as projects under implementation / scanner.  He also explained to the audience on the benefits of partnership with rotary clubs in general and Rotary Club of Bombay West in particular.  To view the PPT, please click here.

Several clarifications were sought and queries raised by the invitees which were responded in detail by President of the Club, Mohan Joshi and the Incoming President Shirish Rege.

Harminder Patheja, Club’s President Nominee for rotary year 2017-18 thanked the invitees who represented several well-known corporate houses including Aditya Birla Financial Services, Reliance Foundation, Johnson & Johnson, Roche, Smile Foundation, KPMG, Galderma India, Saakav and S.P.Jain Institute of Management.  He specially thanked Vivek Padgaonkar, Hon.Rotarian of RCBW and Director of Organization of Pharmaceutical Producers of India (OPPI) for having supported this initiative of the Club.