Audit committee as per clause 49 of listing agreement

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Khusboo Agarwal

Khusboo Agarwal (Querist)
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03 July 2012 If Chairman is absent in Audit Committee meeting, can members elect chairman from amongst themselves.

Ajay Mishra

Ajay Mishra (Expert)
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03 July 2012 Hi

Yes, you can do so but you the company maintain the executive or non-executive composition of the Audit Committee after chairman change.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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03 July 2012 However,The Chairman of the audit committee should be an independent non executive director.

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Ajay Mishra

Ajay Mishra (Expert)
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04 July 2012 Hi

Sorry, for my earlier reply, It may be noted that the Chairman of the audit committee can not be elected from meeting to meeting. It will be decided by Board of Director by constituting the Audit Committee.

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Khusboo Agarwal

Khusboo Agarwal (Querist)
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04 July 2012 thanks for the reply. I think a vice-chairman should be elected, so that when chairman is absent vice chairman will chair the meeting