17 June, 2014
Public companies with a paid up capital of Rs. 10 crore or more, or having turnover of Rs. 100 crore or more, or having in aggregate, outstanding loans or borrowings or debentures or deposits exceeding Rs. 50 crore and/or more, and which were not required to constitute Audit Committee or the Nomination and Remuneration Committee under the erstwhile Companies Act, 1956, are now r...
By Anup Koushik Karavadi
With an eye on improving governance the Companies Act, 2013 (2013 Act) mandates a number of Board committees for specified companies for audit, nomination and remuneration, Corporate Social Responsibility and stakeholders relationship. Clause 49 of the Listing Agreement also envisages such committees for listed entities.
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