Board Committees
Audit Committee
Applicability: Every Listed Company and Public Company Shall have
share paid up capital of Rs. 10 crore rs. or more: or
turnover of rs. 100 crore or more
Compliances of Audit Committee
Composition of the audit committees: Every listed company and such other public companies on which the audit committee shall applicable, should have minimum of 3 director as member and 2/3 of members should be independent director and they shall be financially literate.
a. The audit Committee should be held at least four times in year and not more than 120 days shall elapse between two meetings.
b. The quorum of audit committee meeting should be either two members or 1/3 of the members of the meeting, whichever is higher, with at least two independent directors.
Role of Audit Committee:
Stakeholder Relationship Committee Meeting
Risk management Committee Meeting
Corporate Social Responsbility committee
Audit Committee
Applicability: Every Listed Company and Public Company Shall have
share paid up capital of Rs. 10 crore rs. or more: or
turnover of rs. 100 crore or more
Compliances of Audit Committee
Composition of the audit committees: Every listed company and such other public companies on which the audit committee shall applicable, should have minimum of 3 director as member and 2/3 of members should be independent director and they shall be financially literate.
a. The audit Committee should be held at least four times in year and not more than 120 days shall elapse between two meetings.
b. The quorum of audit committee meeting should be either two members or 1/3 of the members of the meeting, whichever is higher, with at least two independent directors.
Role of Audit Committee:
Audit Committee shall be reviewed the annual financial statement, quarterly financial statement before submission to the board for approval, with management, its review the internal audit function, performance of the internal and statutory auditor, review the auditor's report, director's responsibility statement, scrutiny of inter corporate loans and Investment, evaluation of internal financial controls and risk management systems e.t.c.
Remuneration & Nomination Committees
Applicability:
Every Listed Company and
All public companies with a paid up capital of Rs. 10 crore or more;
All public companies with a turnover of Rs. 100 crore or more;
All public companies, having in aggregate, outstanding loans or borrowings or debentures or deposits exceeding 50 crore ruppees or more.
Compliances of Remuneration & Nomination Committees Meeting
Constitution of Remuneration & Nomination Committees Meeting
The Committee so constituted by Board shall have of three or more non-executive directors out of which not more than half shall be independent Director
Role of Remuneration & Nomination Committee
The Committee shall identify the person who are qualified to become director and who comply all the criteria to be appointed in senior management. the committee ensure that the remuneration is reasonable and sufficient to attract, retain, and motivate directors of the qualify required to run company successfully.
Applicability: Every Listed Company and
Every Companies which have more than 1000 shareholders, debentureholders and any other security- holders at any time during a financial year.
Risk management Committee Meeting
Corporate Social Responsbility committee
