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Audit committee

05 November 2019

All the conditions given for the formation of audit committee for a Unlisted public company are required to be fulfilled or if only one is satisfied then it will be compulsory for the company to form an Audit committee..??

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3 Replies

Charu Srivastava (Company Secretary) (4210 Points)
Replied 06 November 2019

The company who falls under any of the categories, it shall be required to appoint Audit Committed.

Every Listed Public Company or
the Public Companies having paid up share capital of ten crore rupees or more; or
the Public Companies having turnover of one hundred crore rupees or more; or
the Public Companies which have, in aggregate, outstanding loans, debentures and deposits, exceeding fifty crore rupees

In view of the above, even if one conditions is satisfied, the company is required to appoint audit committee.