Indian industrial boat has been on high-seas for the last six decades and the new millennium prompted to mechanize the boat. Native industrial knowledge realized the need for bracing with the modern enthusiasm and expectations, and the Indian governance and law assurance conceded liberty to revolutionize the industrial development for the welfare of the people, a majority being the morbid mass. Corporate misgovernance is sought to be eliminated and the new industrial law, chiefly the Indian Companies Act of 2013 provided for more stringent measures to check and prevent economic frauds, and also a new dimension to inculcate a sense of public spirit in industrial entrepreneurship through Corporate Social Responsibility (CSR). Pursuant to this goal, we have to define and redefine the concept of ‘Corporate Social Responsibility’ vis-à-vis sustainable industrial prosperity. To start with, not all companies are roped in this responsible concept but only companies having a net worth of 500 cr or more, or a turnover of 1,000 cr or more, or a net profit of 5 cr or more should mandatorily spend 2% of their net profits per fiscal year on CSR activities. It is hoped that in future the base of industrial and corporate sector will be expanded to include the mandate of CSR, of course, consistent with good corporate governance. This paper intends to present a picturesque view of comparative scenario of CSR focusing good corporate governance

Amazingly, our conception of thoughts and their transformation into reality is strategically slow and ruefully romantic. Probably, in this creation, no creature needs to be in the womb of mother for unduly long period, but only one legislation in our independent India has enjoyed a gestation of two decades and it is the Companies Act, 2013, which started its luring emergence in 1993 and glittery deliverance by August 2013. It is an occasion of mixed feelings of pleasures and pains, ups and downs and a matrix of incompleteness and imperfections. Whether it is going to be a soothing alien or terrifying predator can be decided by the passage of time. Yet, it has rendered a humane lullaby—Corporate Social Responsibility (CSR).

Indian industrial boat has been on the high seas for the last six decades and the new millennium prompted to mechanize the boat. Native industrial knowledge realized the need for bracing with the modern enthusiasm and expectations, and the Indian governance and law assurance conceded liberty to revolutionize the industrial development for the welfare of the people, a majority being the morbid mass. This is further required to maintain the economic equilibrium globally to further the compliance with international economic policy. We realize that every new feature is not a future problem nor every existing habit an everlasting enjoyment. The purpose of this terse version is to look at new company legislation casually through legal eye.

Law Review Journal, Corporate Social Responsibility (CSR), Indian Corporates, Ministry of Corporate Affairs (MCA), Social Structure, Corporate Socialization, Participatory Prudence.