No complaint has been received in regard to non-implementation of the CSR Policy

INVC NEWS
New Delhi,

As per Companies Act, 2013 and DPE guidelines effective from 01.04.2014, the funds for Corporate Social Responsibility (CSR) are allocated based on 2% of the average net profit of the company for the three immediate preceding financial years.

In Coal India Limited (CIL), the funds for CSR are allocated based on 2% of the average net profit of the company for the three immediate preceding financial years or Rs.2 per tonne of coal production of previous year whichever is higher. Subsidiaries of CIL spend 80% of the budgeted amount within the radius of 25 kms of the Project Site/Mines/Area HQ/Company HQ and 20% of the budget within the State/States in which the subsidiary companies are operating. In respect of CIL (HQ), CSR activities are executed on national basis including the areas under its subsidiaries. Details of expenditure made by CIL and its subsidiaries during the last three years.

Board Level Committee on CSR of CIL as well as its subsidiaries review the implementation of CSR activities from time to time and recommend the amount of expenditure to be incurred on CSR activities.

CIL has informed that no complaint has been received in regard to non-implementation of the CSR Policy.

This information was given by the Minister of Railways, Coal, Finance & Corporate Affairs, Shri Piyush Goyal