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Non Holding of meeting of audit committe
if listed company has not hold its audit committee meeting for first quarter what are the consequences ?
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Quick Summary
If audit committee conditions are fulfilled then it should be fulfilled otherwise consequences shall happen
Dear i am asking what are the consequences or penalty?
In case of non holding of meeting of audit committee then the auditor might qualify the opinion of audit report by stating the reasons
Penalty would be 5000 per day till the default make good.
In which section provision has given ?
You should refer section 177 of companies act
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