In the financial year 2021-22, Mumbai-based Asian Paints spend Rs.71.01 crore on its Corporate Social Responsibility (CSR) for various social development projects.
The company has fully utilized the Corporate Social Responsibility (CSR) required amount and no CSR amount is required to transfer funds to specified funds or special accounts as agreed under Schedule VII to the Companies Act or special account in compliance, the company informed in its Annual Report.
Asian Paints’ Corporate Social Responsibility (CSR) approach is designed for the overall development of the communities.
The organization believes that CSR should not be a one-time engagement; Instead, it should bring social transformation in the life of disadvantaged, vulnerable and marginalized stakeholders
The company’s manufacturing facilities participate in CSR initiatives, and these projects primarily focus on health and sanitation, enhancing vocational skills, water conservation and disaster management.
The total amount transferred by the Asian Pen to the unspent CSR account under Section 135 (6) of the Companies Act 2013 was money. 14.78 crore in 2020-21. The total amount of CSR spent for the financial year 2020-21 is Rs. 48.20 crores.
In the financial year 2019-20, Rs 74.64 crore was spent on various CSR projects in 50 villages in Uttar Pradesh, Haryana, Gujarat, Andhra Pradesh, Maharashtra, Karnataka and Tamil Nadu.