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Legal Backing for CSR Compliance


Section 135 of the Companies Act, 2013 mandates every company above the given threshold levels to comply with Corporate Social Responsibility (CSR) provisions of the Act, and to disclose contents of its CSR policy in its Board’s Report. The pe


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Cibil - need an expert advise please

Posted by discography



Dear Sir,

I haven't seen an expert in these forums on this particular topic, answers to my earlier questions have been generic.

I defaulted on 3 credit cards from 3 different banks as I was jobless. I settled these cards in December 2011. 2 Banks stopped reporting it to CIBIL after the amount was settled. One bank continues to report it to CIBIL even to this date. And they say they will continue to report until the waived off amount is paid.

My question is
1. How long can they continue to report to CIBIL even though the account is settled.

2. How is that 2 banks stopped reporting and 1 continues to report. Is there different regulations for different banks.

I ask this question because CIBIL maintains the record of a closed account only for 7 years after the bank has stopped reporting. But the third bank will continue to ruin my credit score till the time I am alive.

Please help.

Regards
Abraham.


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Legal provisions relating to corporate social responsibility-some unanswered questions still


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Updated on : 18/12/2014 07:12:00

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