Business Responsibility Report In A Nutshell
By Team Legistify / 2016-04-26
The reporting framework is based on ‘National Voluntary Guidelines on social, Environmental & Economic Responsibilities of Business’ (NVGs) released by the Ministry of Corporate Affairs, Government of India which requires businesses to embrace ‘Environmental, social, Governance’ perspective in a sustainable manner.

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SEBI (LODR) Regulations, 2015 prescribe that top 100 companies based on market capitalisation as per NSE / BSE as on March 31 of every financial year, are required to have “Business Responsibility Report” (BRR) as part of their Annual Report. The said regulations have been effective from December 1, 2015. Following is the First Business Responsibility Report of your Company as the Company is among top 100 listed entities as per the market capitalisation at NSE/ BSE as on March 31, 2016.

The report has been prepared as prescribed and in accordance with Regulation 34 of the SEBI (LODR) Regulations, 2015, and provides the information required by SEBI.

What is Business Responsibility Report?

Business Responsibility Report is a disclosure of adoption of responsible business practices by a listed company to all its stakeholders. This is important considering the fact that these companies have accessed funds from the public, have an element of public interest involved, and are obligated to make exhaustive disclosures on a regular basis. SEBI, vide amendment dated December 22, 2015, to Regulation 34 (2) (f) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has extended the applicability of Business Responsibility Reports to top five hundred listed companies from 100 listed Companies based on market capitalisation as on March 31, of every year. Other companies are encouraged to use the Business Responsibility Report for making disclosures to their stakeholders. Business Responsibility Report must be submitted as a part of the Annual Report.

Business Responsibility Report has been designed to provide basic information about the company, information related to its performance and processes, and information on principles and core elements of the Business Responsibility Reporting.

The reporting framework is based on ‘National Voluntary Guidelines on social, Environmental & Economic Responsibilities of Business’ (NVGs) released by the Ministry of Corporate Affairs, Government of India which requires businesses to embrace ‘Environmental, social, Governance’ perspective in a sustainable manner.

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