Audit committee quoram

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 March 2011 Hai

Un listed company what is the quoram required for audit committee, if MD & WD are members of audit committee, will they be counted for quoram ?

Pls giv your views

Jayashree S Iyer

Jayashree S Iyer (Expert)
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04 March 2011 Section 292A is silent on quorum provisions with regard to Audit Committee.

In unlisted companies the quorum is generally 2.

For the purpose of constitution, the section states that 1/3rd of members shall be other than MD and WTD. However there is nothing to exclude them from quorum. They will be counted for quorum.

Querist : Anonymous

Querist : Anonymous (Querist)

07 March 2011 Tahnx for the reply,

If two memberes constitute quoram, MD & WTD themselves will constitute quoram,dont you think this will be against the spirit of section 292 A and very purpose of formation of audit committee

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