audit committee

No audit committe is not required and private co. Can form audit committe if they need ...read section 177 of companies act 2017 and rule 6 and 7. It is purely applicable to listed company and companies which has been mentioned in section

yes agreed with Nikhil

actually m not talking only about companies act 2013 . as per companies act Pvt co is not requires, but what about loadr.? which is applicable on any entity whi has kisted its specified sec. say for example pvt com has listed its non convertible deb then as per loadr will it be req to form audit commm.?

As per LODR , Regulation 18 , it is applicable only to Listed company which has listed its specified securities.

what securitues comes under specified security?

since it is applicable to only Listed Companies...Pvt limited company doesn't require to form an audit committee & Specified securities covers “Designated Securities” i.e non-convertible debt securities, non-convertible redeemable preference shares, perpetual debt instrument, perpetual non-cumulative preference shares, Indian depository receipts, securitised debt instruments, units issued by mutual funds and any other securities as may be specified by the Board. [Regulation 2(1)(h) of SEBI (LODR) Regulations, 2015]

and what if a pvt com has listed its privately placed non convertible debentures on any recognised stock exchange ..?

then too it won't be applicable...as it is not a listed company

as per companies act any company which has listed any of its security on stock exchange is listed.. is there separate definition of listed company as per sebi ?

Can I know pvt limited company have listed what kind of securites ?

like its privately placed non convertible debentures

Yeah sorry Companies Act Listed company defination will get attracted as any security listed on stock exchange is listed co and yeah all the regulation related to listed company in companies act need to follow.Hence this company will be require to form Audit Committee. Still Little doubt on this..Do confirm

yeah thats what i wanted to know .. audit committee requires 3 director minimum and independent director..but what if that pvt co has 2 dir only

Yeah but we need to understand the intention of law with respect to forming audit committee or appointing Independent director. Any one can argue to comply with the provision as it get covers in the defination of listed company. The concept of
appointing an independent director was introduced for enhancing corporate
governance in the company. To strictly adhere with the letter of law, one is
compelled to say that private debt-listed companies should also appoint
independent directors. However, going by
the overarching spirit of law, one needs to a take prudent call in this regard
to say that private listed companies need not appoint independent directors.
This is also backed by the fact that the debt listing agreement does not
require independent directors to be appointed on the board of a private listed
company. We must think in broader sense. Clarification should come out for such matter soon.