© ADR Journals 2016. All Rights Reserved. Socio-Legal Perspectives and the Concept of CSR M R Bothra, Trilok Kumar Jain Abstract This article looks at changes in the legal requirements regarding CSR in Indian context. This is a review article which reviews the proposed legal reform. Different perspectives regarding making CSR mandatory are being discussed in the light of the discussions of proposals. The focus has shifted from Profit to People. The whole concept of CSR is based on the fact that the society provides resources for business and business has to give back to the society for its inclusive growth. Business goals have to be aligned with the social and environmental needs for its long term growth. A few corporate houses view the mandatory spending on CSR activities as an unjustified burden on corporates and is going to hit their bottom line because of additional spend of a minimum 2% of the profits on the prescribed CSR activities. There is criticism over the dictating terms of the legislatures for philanthropic initiatives of the companies. Keywords: CSR, Companies act, Legal requirements, Corporate social responsibility. Corporate Social Responsibility (CSR) has become a buzz word today and these three words have attracted the attention of all concerned be they Corporates/ Academicians/ Environmentalists/ Researchers/ Politicians/ Bureaucrats and have wide importance and impact on the society as a whole. The concept of CSR does not need any introduction. The Corporate as we all know may be referred to as an organized business entity which is an important constituent of the society. Society means people at large- the provider of all the requisite resources for business-Man, Material and Market. Responsibility is the accountability/ relationship between two. Thus, CSR is the responsibility of corporates towards society. Over a period of time there is a major shift in the style in which the business is done and the main object of the business today is not just to make profit. The focus has shifted from Profit to People. The whole concept of CSR is based on the fact that the society provides resources for business and business has to give back to the society for its inclusive growth. Business goals have to be aligned with the social and environmental needs for its long term growth. CSR is not new in India. For ages, entrepreneurs and business persons have tried to help the society at large through some or other means in its development. The word was not CSR, but the spirit was that of CSR. Tata group always tried to develop the citizens from the neighboring areas while setting up its plants, Birla group always tried to set up residential township before setting up the plant and machinery, Bajaj group always came forward to contribute to the national cause. Entrepreneurs from Rajasthan, Gujarat, Maharashtra came forward to set up schools