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Time of India
3 days ago
- Business
- Time of India
Gujarat high court quashes criminal complaint against company for defaulting on CSR responsibilities
Ahmedabad: The Gujarat high court quashed a criminal complaint filed by the registrar of companies (ROC) against a company on charges of non-compliance with corporate social responsibility (CSR) rules, specifically for inadequate disclosure and under-expenditure on CSR activities. Acknowledging the shift in legislative approach, the HC quashed the complaint and referred the issue to the adjudicating authority to fix the penalty on the company. This decision came after the central govt in 2020 amended the Companies Act, decriminalising the offence and reducing the punishment to a fine. In this case, the ROC filed a complaint under the Companies Act in a city court in 2017 against KHS Machinery Pvt Ltd for defaulting on its CSR obligations for the financial year 2014-15. The principal district judge initiated proceedings against the company. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad The company approached the HC in 2017, alleging that the ROC filed the complaint "with an ulterior motive and in abuse of the process of law". The company contended that it constituted a CSR committee and framed its own CSR policy in accordance with the statutory mandate. In line with its CSR obligations, the company began spending amounts towards social causes as stipulated in its CSR policy. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Các chỉ số toàn cầu đang biến động — Đã đến lúc giao dịch! IC Markets Tìm hiểu thêm Undo All relevant disclosures were duly made in the Board of Directors' Report in compliance with Section 134(3)(o) of the Companies Act. Still, the ROC filed the complaint. The quashing petition was pending since 2017. When it came up for hearing, the company contended that the case pertained to Section 134(8) of the Companies Act and the said offence was decriminalised in 2020, with the punishment reduced to a fine. It prayed that the benefit of reduction in punishment should be given with retrospective effect. It also cited a Supreme Court order in this regard. After hearing the case, Justice J C Doshi quashed the complaint and ordered the issue to be sent to the authority concerned for fixing the penalty. The HC stated, "Evidently, the benefit of decriminalisation of the offence ought to ensure to the benefit of the petitioner, in as much as the Amendment Act passed by the central govt has decriminalised the punishment in cases pertaining to CSR violations and reduced the consequences to the imposition of a fine only. There appears to be no justifiable reason to deny the retrospective benefit of such decriminalisation to the petitioner–accused."
Yahoo
01-04-2025
- Business
- Yahoo
Aspo has published its Annual Report 2024
Aspo PlcStock Exchange ReleaseApril 1, 2025 at 09:45 am Aspo has published its Annual Report 2024 Aspo Group's Annual Report 2024 has been published on the company's website The Annual Report 2024 includes the Strategy and Business Review, the Board of Directors' Report, the Corporate Governance Statement and the Financial Statements 2024. The Board of Directors' Report includes the Sustainability Statement, which is based on the EU Corporate Sustainability Reporting Directive (CSRD). The audit firm Deloitte Oy has assured the Sustainability Statement at a limited assurance level. The Consolidated Financial Statements are published in accordance with European Single Electronic Format (ESEF) reporting requirements, and it is available separately in XHTML format where the primary statements and the notes to the financial statements have been labelled with XBRL tags. Aspo has also published a separate Remuneration Report for 2024, which is available on the company's website. Aspo's Annual Report in its entirety, as well as the ESEF report and the Remuneration Report are attached to this release. Aspo Plc Rolf Jansson CEO Further information: Rolf Jansson, CEO, Aspo Plc, tel. +358 400 600 264, Distribution: Nasdaq Helsinki Key Media Aspo creates value by owning and developing business operations sustainably and in the long term. Our companies aim to be market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these aiming to be forerunners in sustainability. Aspo supports its businesses profitability and growth with the right capabilities. Aspo Group has businesses in 17 different countries, and it employs approximately 800 professionals. Attachments Aspo-Remuneration-Report-2024 Aspo-Annual-Report-2024 aspooyj-2024-12-31-en Aspo-Corporate-Governance-Statement-2024
Yahoo
13-02-2025
- Business
- Yahoo
Kojamo plc's Financial Statements and Board of Directors' Report 2024 have been published
Kojamo plc Stock Exchange Release, 13 February 2025 at 8:30 a.m. EET HELSINKI, Feb. 13, 2025 /PRNewswire/ -- Kojamo plc's Financial Statements and Board of Directors' Report 2024 have been published today. The Financial Statements includes the consolidated financial statements, the parent company financial statements and the Auditor's Report. In addition, the company has today published separate Corporate Governance Statement and Remuneration Report for the year 2024. The Financial Statements are published in accordance with the European Single Electronic Format (ESEF) reporting requirements in Extensible Hypertext Markup Language (XHTML) format. The Financial Statements have been labelled with XBRL tags. KPMG Oy Ab, authorised public accountants, has provided an independent auditor's reasonable assurance report on Kojamo's ESEF Financial Statements in accordance with ISAE 3000. The Financial Statements and Board of Directors' Report, Corporate Governance Statement and Remuneration Report have been published on the company's website on as well as attached to this release. In addition, the company will publish Annual Report including the company's sustainability report on week 10. For more information, please contact Niina Saarto, Director, Treasury & Investor Relations, Kojamo plc, tel. +358 20 508 3283, Erik Hjelt, Interim CEO, Kojamo plc, tel. +358 20 508 3225, Distribution: Nasdaq Helsinki, Irish Stock Exchange, key media Kojamo is Finland's largest private residential real estate company and one of the biggest investors in Finland. Our mission is to create better urban housing. Lumo offers environmentally friendly housing and services for the city dweller who appreciates quality and effortlessness. We actively develop the value of our investment properties by developing new properties and our existing property portfolio. We want to be the property market frontrunner and the number one choice for our customers. Kojamo's shares are listed on the official list of Nasdaq Helsinki. For more information, please visit This information was brought to you by Cision The following files are available for download: Board of Directors' Report and Financial Statements 2024 Remuneration Report 2024 Corporate Governance Statement 2024 View original content: Sign in to access your portfolio
