section 177 ,Co. act 2013,right?!?! constituting Audit committee is mandatory for all listed public co. and such class or classes of co., isn't it? I think,you were reading Co. act 1956,section 292A which provide limits (such as turnover,outstanding loans,paid up capital.....)and on exceeding the limits co. should constitute Audit committee...... As regards section 292A...."exceeding any one of the limits is sufficient to constitute Audit committee" ..... Ok?? waiting for reply...... ....
CAclubindia
