Quick Money Limited is covered by Section 135 of the Companies Act, 2013 and has had an average CSR obligation of ₹12 crore in each of the preceding…

Provisions of the Law: Rule 8(3) of the Companies (Corporate Social Responsibility Policy) Rules, 2014 requires every company having an average CSR obligation of ₹10 crore or more in the three immediately preceding financial years to undertake, through an independent agency, an impact assessment of CSR projects with outlays of ₹1 crore or more and which have been completed not less than one year before undertaking the impact study. Analysis and Conclusion: (i) Not all companies are required to be undertaken impact assessment. Its applicable to only those with average CSR obligation of ₹10 crore or more in the preceding three financial years, in respect of projects with outlay of ₹1 crore or more completed at least a year earlier. Since Quick Money Limited's average obligation of ₹12 crore exceeds this threshold, it is required to undertake impact assessment for qualifying projects. (ii) The impact assessment must be conducted through an independent agency.