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
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
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.
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
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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