Companies having CSR prescribed amount below Rs 50 lakh can be exempted from the need of constituting a CSR committee, as per the report.
In recent times, the ministry has initiated stringent action against various entities, including auditors, in the IL&FS scam, among others.
Finance Minister Nirmala Sitharaman said the government is looking at the financial sector woes and will address them.
Piramal Enterprises's Ajay Piramal said that industry raised several matters such as reluctance of banks to lend to the industry.
It is more of a drafting issue and not imposition of an additional penal provision, said Corp Affairs Secy Injeti Srinivas.
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