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We give below some of the important trigger points under Companies Act, 2013 for quick reference:






Matter

Sec.

Rules

Applicable to whom

Applicable when

Appointment of whole time CS

203 & 2(51)

R.8A of Ch -13

All Cos.

Paid up share capital exceed Rs. 5 Crore

Appointment of KMP

203 & 2(51)

R.8A of Ch -13

Listed Co.

Mandatory w.e.f. 01.04.2014

Unlisted Pub.Co.

Paid up share capital exceed Rs. 10 Crore

Appointment of Independent Director

149

R. 4 of Ch- 11

Listed Co.

Mandatory w.e.f. 01.04.2014

Unlisted Pub. Co.

Paid up share capital exceed Rs. 10 Crore Or
Turnover exceed Rs. 100 Crore Or
outstanding borrowing exceed Rs. 50 Crore

Exemption available to following classes of unlisted public company, namely:

(a) a joint venture; 
(b) a wholly owned subsidiary; and 
(c) a dormant company

Appointment  of Women Director

149

R. 4 of Ch- 11

Listed Co.

Mandatory w.e.f. 01.04.2014

Unlisted Pub. Co.

Paid up share capital exceed Rs. 100 Crore Or  Turnover exceed Rs. 300 Crore

Audit Committee

177

R. 6 of Ch- 12

Listed Co.

Mandatory w.e.f. 01.04.2014

Unlisted Pub. Co.

Paid up share capital exceed Rs. 10 Crore  Or  Turnover exceed Rs. 100 Crore Or
Outstanding borrowing exceed Rs. 50 Crore

Exemption to Public Cos who are not required to appoint Independent Director

Nomination & Remuneration Committee

178

R. 6 of Ch- 12

Listed Co.

Mandatory w.e.f. 01.04.2014

Unlisted Pub. Co.

Paid up share capital exceed Rs. 10 Crore Or
Turnover exceed Rs. 100 Crore Or
Outstanding borrowing exceed Rs. 50 Crore

Exemption to Public Cos who are not required to appoint Independent Director

CSR Committee

135

----

All Cos

Net worth exceed Rs. 500 CroreOr
Turnover exceed Rs. 1000 Crore Or
Net profit in any F.Y. exceed Rs. 5 Crore

Stakeholders Relationship Committee

178

----

All Cos

More than 1000 shareholders, debenture holders,  deposit holders or any security holders

Whistle blower                      policy/  Vigil Mechanism

177

R. 7 of Ch-12

Listed Co.

Mandatory w.e.f. 01.04.2014

Others- Pvt. & Pub. Cos

Co. Accepting deposit  or

Borrowing exceeds Rs. 50 Crore

Internal  Audit

138

R. 13 of Ch -9

Listed Co.

Mandatory w.e.f. 01.04.2014

Unlisted Pub. Co.

Paid up share capital exceed Rs. 50 Crore
Or Turnover exceed Rs. 200 Crore
Or Outstanding borrowing exceed Rs. 100 Crore
Or Outstanding deposit exceed Rs. 25 Crore

Pvt. Co.

Turnover exceed Rs. 200 Crore Or
Outstanding borrowing exceed Rs. 100 Crore

Secretarial Audit

204

R. 9 of Ch- 13

Listed Co.

Mandatory w.e.f. 01.04.2014

Unlisted Pub. Co.

Paid up share capital exceed Rs.50 Crore Or  Turnover exceed Rs. 250 Crore


The author can also be reached at csamisheth@gmail.com


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Category Income Tax, Other Articles by - ACS Ami Sheth 



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