It was also clarified that the Government has no proposal to review the state of implementation of the provisions of the existing Act related to Corporate Social Responsibility. Whenever violation of Corporate Social Responsibility (CSR) provisions is found, action under section 134 (8) of the Companies Act, 2013 (the ‘Act’) is initiated.
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Once Committee of Creditors in its commercial wisdom, decides to reject the Resolution Plan and liquidate the Corporate Debtor on…