audit committee

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

CA.Ritu Agarwal

CA.Ritu Agarwal (Querist)

10 April 2009 Do an unlisted Limited Company with no Public deposit require to make Audit Committee.

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)

10 April 2009 Public limited company where their shares have been listed in any stock exchanges are required to create audit committee and capital is 3crores an above.

and other unlisted Public limited companies whose turnover is more than 25crores or capital is more than 5crores has to have a audit committee.

If your company is falling under second category then you have to constitute a audit committee.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)

10 April 2009 agreee

Ankur Garg

Ankur Garg (Expert)

01 May 2009 Strange answer above...

well Ritu as per section-292A if your company is a public co. with paid up capital of Rs. 5 crore or more then you have to constitute Audit Committee.

Public Deposit does not make any difference...and not a deciding factor..

Regards

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now