Brief overview about the composition, quorum requirement about the company

-Audit Committee

-Nomination and Remuneration Committee

-Stakeholder Relationship Committee

-Risk Management Committee (For Top 1000 Listed Companies)

-CSR Committee

AUDIT COMMITTEE
S.No. Particulars As per Companies Act,2013 As per SEBI (LODR)
1. Minimum Requirement of Director 3 directors with ID forming majority 3 directors where 2/3rd shall be ID
2. Chairperson of the Committee Any member of the committee can be the chairperson Independent Director who is member of the committee can be the chairperson
3. Quorum As the Articles or Board members decide 2 members or 1/3rd of the members of the audit committee, whichever is greater, with at least 2 Independent Directors.
4. No. of meetings As the Act is silent therefore at least 1 meeting in a year At least 4 meetings in a year
5. Availability at AGM As the Articles or Board members decide The chairperson of the committee shall be present at AGM
NOMINATION AND REMUNERATION COMMITTEE
S.No. Particulars As per Companies Act,2013 As per SEBI (LODR)
6. Minimum Requirement of Director 3 non-executive directors with at least ½ being ID 3 non-executive directors with at least ½ being ID
7. Chairperson of the Committee Any member of the committee can be the chairperson Independent Director who is member of the committee can be the chairperson
8. Quorum As the Articles or Board members decide 2 members or 1/3rd of the members of the audit committee, whichever is greater, with at least 1 Independent Directors.
9. No. of meetings As the Act is silent therefore at least 1 meeting in a year At least once in a year
10. Availability at AGM As the Articles or Board members decide The chairperson of the committee may be present at AGM
STAKEHOLDER RELATIONSHIP COMMITTEE
S.No. Particulars As per Companies Act,2013 As per SEBI (LODR)
11. Minimum Requirement of Director As decided by the Board Members 3 directors with at least 1 being ID
12. Chairperson of the Committee A non-executive director A non-executive director
13. No. of meetings As the Act is silent therefore at least 1 meeting in a year At least once in a year
14. Availability at AGM The chairperson of the committee shall be present at AGM The chairperson of the committee shall be present at AGM
15. Quorum As the Articles or Board members decide As the Articles or Board members decide.
RISK MANAGEMENT COMMITTEE (FOR TOP 1000 LISTED COMPANIES)
16. Minimum Requirement of Director NA 3 directors with at least 1 being ID
17. No. of meetings At least twice in a year
18. Quorum 2 members or 1/3rd of the members whichever is higher with at least 1 member of the board in attendance.
CSR COMMITTEE
19. Minimum Requirement of Director Common for both

  • 3 Directors out of which at least 1 shall be ID
  • If the company is not required to appoint ID then at least 2 directors
20. No. of meetings As the Act is silent therefore at the number of meeting as stipulated by Board or any authority.
21. Quorum As the Articles or Board members decide

Author Bio

Qualification: CS
Company: N/A
Location: New Delhi, Delhi, India
Member Since: 22 May 2021 | Total Posts: 6
We are a group of Qualified Company Secretaries running a page on Insta under the name of "CORPORATE MASTER" to enhance the corporate law knowledge of the Students. View Full Profile

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