Companies can't hold capital assets created with CSR funds: Experts

The recently notified corporate social responsibility (CSR) rules require companies to transfer any capital asset created or acquired by using CSR money to the beneficiaries of the project, charitable company or a public authority. 

If such capital expenditure was incurred as part of CSR in the past, the assets need to be transferred within six months. This deadline can be extended by a maximum of 90 days with the approval of the board after providing reasonable justification.  “Companies will need to review capital expenditure incurred in the past... This may involve some complexity for immovable property or assets that are of