What is the meaning of ‘ongoing project’? Which projects can be considered as ongoing?

Ongoing project has been defined under rule 2(1)(i) of the Companies (CSR Policy) Rules, 2014 as: 

1. a multi-year project, stretching over more than one financial year;
2. having a timeline not exceeding three years excluding the year of commencement;
3. includes such project that was initially not approved as a multi-year project but whose duration has been extended beyond one year by the Board based on reasonable justification.

The project should have commenced within the financial year to be termed as ‘ongoing’. The intent is to include a project which has an identifiable commencement and completion dates. After the completion of any ongoing project, the Board of the company is free to design any other project related to operation and maintenance of such completed projects in a manner as may be deemed fit on a case-to-case basis. 

Note: The term ‘year’ refers to financial year as defined in section 2(41) of the Act.