Radhika (Company Secretary) (303 Points)
17 February 2015Hello...
Under section 177(3) of the Companies Act, 2013, every Audit Committee of a company existing immediately before the commencement of this Act shall, within one year of such commencement, be reconstituted in accordance
with sub-section (2).
Can it be reconstituted with the same members again?
Ankit
(CA, CS)
(3064 Points)
Replied 17 February 2015
Dear Radhika,
If the present audit committee meets the requirements of the Act, i.e independent directors etc, there is no need for it to be reconstituted.
CAclubindia
