MCA CLARIFICATION ON SPENDING OF CSR FUNDS AND OTHER RELIEF MEASURESDUE TO COVID-19 OUTBREAK

Published On: 26/03/2020

Practice Area: Corporate & Commercial

Authors:

Anubha Sital
In light of the ongoing COVID-19 pandemic outbreak, the Ministry of Corporate Affairs (the 'MCA') on March 23, 2020 has provided a clarificatory circular with respect to the spending of the funds set aside for Corporate Social Responsibility ('CSR') activities, for COVID-19 as well as other relaxations for insolvency and liquidation proceedings under the IBC. INDUSLAW's Anubha Sital and Vidit Mehra discuss.