Coimbatore: The Corporates must act responsibly, so that their actions benefied not only the stakeholders, but society as whole, N Sessasayee, Principal District Judge, Coimbatore, said today.
Inaugurating a conference on "Corporate Social Responsibility (CSR) Law and Practice," here organized by Local chapter of Indian Chamber of Commerce and Industry and Assocham, Seshasayee said that it was important for individuals and institutions to feel responsible for their existence before looking at social responsibility.
Stating that corporates must act responsibly so that their actions benefit not only stakeholders but society as whole, he said that responsible action on part of individuals and corporates will lead to better society.
It was important that any activity taken up under the ambit of CSR must aim to empower individuals to make them responsible for their existence, which required individuals to be motivated and empowered to enable them take care of their lives, he said.
This, Seshasayee said, was the only way to make journey for next generation better and irrespective of legal requirements, corporate sector must play a role in making society a better place It was not very difficult to raise funds for social work but it was important to ensure there was no no leakage and the funds so raised were utilized meaningfully, he said.
Referring to high incidence of legal conflicts, he also called upon Corporate sector to explore options to reduce such conflicts ending up in courts.
In his introductory remarks, D Nandakumar, President, Chamber, said that corporate sector was fully aware of its social responsibilities and was keen to make its contribution toward betterment of society.
Corporate sector of Coimbatore has all along been active in social areas and has been making sterling contribution to society, he added.
Dr K S Ravichandran, Member, ASSOCHAM, Southern Regional Council said time was ripe for corporate sector to make meaningful contribution to the society and they should collaborate and pool their funds to bring about an integrated development.
