To deliberate on the concept of corporate social responsibility in the new Companies Bill, Corporate Affairs Minister Sachin Pilot will take questions on the topic from netizens on Google Hangout on Wednesday.
Through Google Hangout, a multi-person online video chat facility, Pilot would discuss the Corporate Social Responsibility (CSR) aspects of the new Companies Bill.
"The Hangout will have many participants including Anand Mahindra (CMD, Mahindra & Mahindra), Aditya Puri (MD, HDFC Bank), Rakesh Bharti Mittal (Vice Chairman & MD, Bharti Enterprises), social entrepreneurs, NGOs and students from IIM-Bangalore, among others," an official release said today.
Pilot would be joining the likes of US President Barack Obama, finance minister P Chidambaram, Planning Commission deputy chairman Montek Singh Ahluwalia, Gujarat chief minister Narendra Modi, and many other prominent personalities who have used the Google Hangout platform to reach out to people.
Under Clause 135 of the new Companies Bill, approved by Parliament on August 8, certain class of companies have to shell out two per cent of three-year average annual profit towards CSR activities.
The norms would be applicable for companies having either net worth of Rs 500 crore or more; turnover of Rs 1,000 crore or more; or net profit of Rs 5 crore or more.