Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
Associate PartnerAssociate Partner
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Govt Cancels Registration of Infosys Foundation for Violating Norms on Foreign Grants

The Home Ministry had last year served show cause notice to Infosys Foundation for failing to submit annual income and expenditure statement on foreign funding for up to six years despite repeated reminders.

PTI

Updated:May 13, 2019, 1:27 PM IST
facebookTwitterskypewhatsapp
Govt Cancels Registration of Infosys Foundation for Violating Norms on Foreign Grants
Representative image

New Delhi: The Home Ministry has cancelled the registration of Bengaluru-based NGO Infosys Foundation for alleged violation of norms in receiving foreign grants, officials said Monday.

All non-government organisations (NGOs) are mandatorily required to be registered under the Foreign Contribution (Regulation) Act or FCRA to receive foreign funding.

The Home Ministry had last year served show cause notice to Infosys Foundation for failing to submit annual income and expenditure statement on foreign funding for up to six years despite repeated reminders, officials said.

The registration was cancelled as Infosys Foundation allegedly did not file income and expenditure statement on foreign funding for the past few years, they said.

As per FCRA guidelines, registered associations are required to submit electronically an online annual report with scanned copies of income and expenditure statement, receipts and payment account, balance sheet, etc., for every financial year within nine months of the closure of the financial year.

Associations which do not receive foreign contribution during a particular year are also required to furnish a 'NIL' return for that financial year within the aforesaid period, read the guidelines.

When contacted, Infosys Foundation said its de-registration from the FCRA followed a request it proactively made to the Ministry of Home Affairs.

"This (request) was done as the Infosys Foundation does not come under the purview of the FCRA following the amendment made to the act in 2016. We had approached the ministry to consider this, and thank them for granting our request," said Rishi Basu from the foundation's corporate marketing and communications division.

Established in 1996, Infosys Foundation supports projects in education, rural development, health care, arts and culture, and destitute care.

According to the foundation's website, its mission is to work in remote regions of India. Sudha Murthy is the chairperson of Infosys Foundation.

The Union Home Ministry had last year served show cause notices to at least 1,755 NGOs, including a few companies, for failing to submit annual income and expenditure statement on foreign funding for up to six years despite reminders.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Infosys 654.35 -14.78
Yes Bank 53.25 3.60
Bajaj Finance 4,059.00 -1.90
Reliance 1,413.90 -0.17
ICICI Bank 451.70 3.17
Company Price Change %Gain
Infosys 654.50 -14.75
Yes Bank 53.35 3.79
HDFC 2,110.45 0.72
Indiabulls Hsg 215.50 -6.91
IRCTC 839.00 7.67
Top Gainers
Company Price Change %Gain
Yes Bank 53.30 3.70
ICICI Bank 451.70 3.17
BPCL 536.80 3.17
Dr Reddys Labs 2,808.00 3.05
Titan Company 1,332.25 2.43
Company Price Change %Gain
Yes Bank 53.30 3.70
ICICI Bank 451.35 3.11
Hero Motocorp 2,690.75 1.70
ITC 249.80 1.34
Bajaj Auto 3,128.45 1.32
Top Losers
Company Price Change %Gain
Infosys 653.30 -14.92
HCL Tech 1,056.90 -3.52
Tata Motors 133.95 -2.12
Bajaj Finance 4,059.00 -1.90
Bajaj Finserv 8,110.00 -1.89
Company Price Change %Gain
Infosys 653.85 -14.84
HCL Tech 1,057.45 -3.51
Tata Motors 133.85 -2.08
Bajaj Finance 4,057.35 -1.95
Asian Paints 1,793.10 -1.29

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results