CORPORATE SOCIAL RESPONSIBILITY IS A MYTH

Corporate Social Responsibility (CSR), the principle of shifting the business into a sustainable and ethical practice. The concept of “Entrepreneurs driven the society” where the corporate has ethical, moral and philanthropic responsibility, this phenomenon takes down the responsibility of the society by providing and funding social services encompassing areas such as medical facilities school and other community amenities within well planned economics for a long-term sustained achievement. "Acta exteriora indicant interiora secreta" ("External actions reveal the inner secrets"), CSR represents an evolving obligation that were meant for the business official to engage in and contribute to economic development while simultaneously enhancing the living conditions of the families as well as the environment. According to the section 135 of the Companies act 2013 it mandates qualified corporations to spend 2% to their average net profits on CSR activities, the success of the corporate organisation is on the hand of the local environment as they operate, since then the impact of this initiatives remains questionable. Though the legislation ability is to promote corporate accountability and develop suitability which is often hindered by inadequate enforcement and weak regulatory supervision. The Vedant Resource Limited Vs1 . Union of India1 highlights the limitation of CSR where it can be a mere myth if corporates fail to meet their social and environmental responsibility. The hon’ble supreme court of India observed CSR is not a charitable activity but a legal and moral obligations that integral to the core operation of business. These activities turned out to be violation of Forest Rights Act 2006 and the Environmental Protection act 1986. This article is based on a doctrine and empirical method that aim to analyse the concept of (Corporate Social Responsibility) CSR as a myth, focusing on the disparities between corporate claims and actual practice and highlights the necessity of strengthen legal frame work and effective regulatory enforcement