JAMMU: Despite not being legally mandated under Section 135 of the Companies Act, 2013, cement industries in Khrew-Wuyan collectively contributed Rs 1,62,57,864 towards Corporate Social Responsibility (CSR) initiatives in the financial year 2023-24, according to the data presented in the Jammu Kashmir Assembly.
The contributions were directed towards environmental sustainability and infrastructure development in the region.
Under the Companies Act, CSR obligations apply to firms meeting specific financial thresholds, including a net worth of Rs 1,500 crore or more, a turnover of Rs 1,000 crore or more, or a net profit of Rs 5 crore or more in the preceding financial year. Since none of the cement industries in Khrew-Wuyan met these criteria, they were not required to undertake CSR activities.
Nevertheless, several companies voluntarily made contributions. HK Cement Industries Private Limited contributed Rs 24,20,000, while Cemtac Cement Pvt Ltd provided Rs 12,88,000. Trumboo Cement Industries Pvt Ltd made the highest contribution, amounting to Rs 1,17,50,238.
The voluntary CSR efforts reflect the companies’ commitment to community welfare and environmental responsibility.
