Bhubaneswar: The Ministry of Corporate Affairs have given official confirmation to the SRC that all contributions to the Odisha State Disaster Management Authority (OSDMA) by various corporate houses will be considered as an act of corporate social responsibility (CSR).
Rule 4B of Companies Rules 2014 provides the opportunity that the board of any company may undertake CSR activities through a registered society established by the central or state government or any entity established under an Act of Parliament or a State Legislature.
Since OSDMA is a Government of Odisha promoted society registered under Societies Registration Act – 1860 it is an eligible entity to receive CSR funds for undertaking any activity covered under Schedule VII of Companies Act 2013 which includes relief, rehabilitation and reconstruction activities as part of disaster management in terms of liberal interpretation.
Accordingly as per the existing rules, OSDMA is eligible to receive CSR contribution and undertake CSR activities as an implementing agency.
