SUSTAINABLE DEVELOPMENT PAGE OF THE COMPANY ACT 2013 OR OVERVIEW IN INDIA: ANALYSIS

AUTHOR – SANAT JAYANTILAL PANCHAL* & DR. DIXIT PATEL**, PG STUDENT & PROFESSOR AT SWAMINAYARAN UNIVERSITY, KALOL

BEST CITATION – SANAT JAYANTILAL PANCHAL & DR. DIXIT PATEL, SUSTAINABLE DEVELOPMENT PAGE OF THE COMPANY ACT 2013 OR OVERVIEW IN INDIA: ANALYSIS, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 698-702, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT:

This study examines how sustainable development is incorporated into the Indian Companies Act of 2013, with a particular emphasis on the CSR (Corporate Social Responsibility) requirements. It gives a summary of the pertinent Act parts, examines how they were implemented, and assesses how they affected sustainable development. The study employs a thorough research approach to analyze compliance levels, identify obstacles, and provide policy recommendations aimed at improving the efficacy of corporate social responsibility initiatives. The word “corporation” is derived from the Latin word “corpus” which means “body”. With the help of many companies. Laws developed to govern business sectors, governance means monitoring the processes and systems used to achieve the expectations of stakeholders. The company guarantees that its relationships with various stakeholders are open and true. This article looks at how the newly enacted Indian Companies Act (2013), an important law with far-reaching implications for all companies incorporated in India, will help in its implementation. So-called “Corporate Management” and sustainable development comparing the old law (Company Law 1956) with the new [Company Law 2013] Sustainable development means meeting the needs of the present without compromising the needs of future generations. This article also explains whether the amended provisions of the new Companies Act of India would be a boon for the entire country or would only aggravate the difficulties caused by the previous Companies Act, 1956.This study also discusses how the Limited Companies Act 2013 supports corporate governance, emphasizing the importance of transparency and accountability.

Keywords: CSR, ESG, Sustainability Reporting, Long-term Value, Accountability