The major legislation in India coping with corruption is Prevention of Corruption Act, 1988. Having discussed the fundamentals, let us proceed with the precept-clever disclosure and suggestive steps the reporting entity might take to fulfil the obligations of reporting in letter and spirit. We have tried to cowl all the disclosure clauses which are extra qualitative and require preparation by the businesses, in contrast to those that are quantitative or where the knowledge is available to the entity itself. The disclosures sought in this part are internal and mostly available with the reporting entities. Basic details such as name, CIN, registered workplace address, contact particulars, paid up capital, name and make contact with details of the particular person liable for BRSR, details concerning the operations, products and turnover.
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To higher reflect the intent and scope of reporting requirement, the Committee recommended the BRR to be known as BRSR and the implementation of the reporting requirement be done in gradual and phased method. While the BRSR helps the stakeholders recognise a company’s commitment in direction of ESG parameters, it additionally helps the ESG-compliant company derive varied advantages from the BRSR reaching the general public, giving recognition to the company.
Instead, they let … Read More