(1)
The companies mentioned in the rule 3 shall constitute CSR Committee as under.-
(i) [a company] [Substituted 'an unlisted public company or a private company' by Notification No. G.S.R. 895(E), dated 19.9.2018 (w.e.f 27.2.2014).] covered under subsection (1) of section 135 which is not required to appoint an independent director pursuant to sub-section (4) of section 149 of the Act, shall have its CSR Committee without such director;
(ii) a private company having only two directors on its Board shall constitute its CSR Committee with two such directors;
(iii) with respect to a foreign company covered under these rules, the CSR Committee shall comprise of at least two persons of which one person shall be as specified under clause (d) of sub-section (1) of section 380 of the Act and another person shall be nominated by the foreign company.
(2)
The CSR Committee shall institute a transparent monitoring mechanism for implementation of the CSR projects or programs or activities undertaken by the company.