CSR Practices of Select Pharma Companies in India in The Light of Companies Act 2013: A Study

Abstract

Introduction of CSR provisions through section 135 in the Companies Act, 2013 is one of the important phases of CSR movement in India. Presently, all pharmaceutical companies in India practice CSR as a statutory compliance and manage their businesses so as to produce an overall positive impact. So, this is our duty to search for the nature of CSR compliance by pharma companies in accordance with the new Act. The study highlights the increasingly important role that modern CSR regulation is playing in large pharma companies in India. It is clear from the study that how specific CSR initiatives in line with Schedule-VII of the Companies Act, 2013 have engaged with country health, education and rural infrastructure, and the impacts they have made. It is expected that the policy makers will get valuable insights from the study for better regulation of the CSR activities. However, until and unless the companies willfully assume the responsibility for better transparency, the law alone cannot do everything.