Question
In accordance with Section 177 of the Companies Act,
2013, the Audit Committee constituted by a listed company shall consist of a minimum of ________ directors, and ________ shall form a majority.Solution
Section 177 of the Companies Act, 2013 - Audit Committee (1) The Board of Directors of every listed public company and such other class or classes of companies, as may be prescribed, shall constitute an Audit Committee. (2) The Audit Committee shall consist of a minimum of three directors with independent directors forming a majority: Provided that majority of members of Audit Committee including its Chairperson shall be persons with ability to read and understand, the financial statement.
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