borrowings for constituting audit committee u/s 177

if any one condition is full filled or satisfied then the compant shall comply the law of sec 177 and company should form the audit comitee

yess any kind of loan exceeds 50 cr

yess any kind of loan exceeds 50 cr

Private Public companies Both or only public limited companies

consider a case where rest of the conditions as to share capital and turnover are not satisfied, whether such public company (not being a listed company) whose borrowings is exactly rs.50 crores is obligated to constitute an audit committee u/s 177 read with relevant rules? the fact that the borrowings by company is exactly 50 crores (neither exceeding nor lesser than) should be considered .....