MCA clarified on spending of CSR funds for creating health infrastructure for COVID care, establishment of medical oxygen generation and storage plants

May 05, 2021 | by Avantis RegTech Legal Research Team

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Secretarial Compliance

The Ministry of Corporate Affairs (MCA) on May 05, 2021 clarified on spending of CSR funds for creating health infrastructure for COVID care, establishment of medical oxygen generation and storage plants, manufacturing and supply of Oxygen concentrators, ventilators, cylinders and other medical equipment for countering COVID-19’ or similar such activities are eligible CSR activities under Schedule VII, relating to promotion of health care, including preventive health care, and, disaster management relating to promotion of health care, including preventive health care, and, disaster management.

Further, the companies including Government companies may undertake the activities or projects or programmes using CSR funds, directly by themselves or in collaboration as shared responsibility with other companies.

[Circular No. 09/2021]

 


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