Shiv Nadar decided to allot 3000 crore to charity

Updated on: Friday, November 08, 2013

HCL founding chairman Shiv Nadar will invest Rs.3000 crore in the next five year towards various Educational programmes towards Shiv Nadar Foundation. It will be a long term investment of Shiv Nadar Foundation to $ 1 billion, (Rs.6000 crore) in various philanthropic initiatives. SNF is one of India's largest Philanthropic institutions invested more that 1800 crore till March 2013.

It is expected additionally upto 1220 crore till the end of the curt fiscal.

This is separate from corporate social responsibility programs undertaken by HCL as a company.

The new company Act insists that all profit making companies have to spend ever year atleast 2 percent of 3 year average on CSR works.

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