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    Question

    As per _______ of the Companies Act 2013, t he Board of

    Directors of every listed company and such other class or classes of companies, as may be prescribed, shall constitute an Audit Committee.
    A Section 174 Correct Answer Incorrect Answer
    B Section 175 Correct Answer Incorrect Answer
    C Section 176 Correct Answer Incorrect Answer
    D Section 177 Correct Answer Incorrect Answer
    E Section 178 Correct Answer Incorrect Answer

    Solution

    Section 174: Quorum (Minimum number to conduct meeting) for meetings of Board. Section 175: Passing of resolution by circulation. 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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