Abstract

India has enacted significant corporate social responsibility obligations ("CSR") on publicly-traded corporations. Such directives now require corporate directors to take into account the interests of numerous stakeholders instead of the historic exclusive focus on "shareholder-value". The CSR goals were introduced recognizing that companies and their directors owed duties to their employees, the community and the environment in addition to the shareholders. The question this paper focuses on is whether directors' CSR obligations should also be applicable to business decisions in the ...