The Companies Act,2013 has prescribed various limits for the appointment of auditors, directors and committees which is difficult to remember in one go.

So below is the confined chart consisting of all the limits prescribed under Companies Act,2013.

Constitution of Committees
S.No. Name of the Committees Which companies are required to form such committees
1. Audit Committee
  • Every listed company
  • All public companies

1. with a paid-up capital of Rs.10 Crores or more

OR

2. having turnover of Rs.100 Crores or more;

OR

3. having in aggregate, outstanding loans or borrowings or debentures or deposits exceeding Rs.50 Crores or more.

2. Nomination and Remuneration Committee Same as that of Audit Committee
3. Stakeholder Relationship Committee
  • Every listed company
  • A Company which consists of more than 1000 shareholders, debenture-holders, deposit-holders and any other security holders at any time during a financial year.
4. Risk Management Committee As per the latest SEBI(LODR) (Second Amendment) Regulations, 2021 top 1000 listed companies based on market capitalisation
5. Corporate Social Responsibility Committee
  • Every company having
  • Net worth of 500 Crores or more, or
  • Turnover of 1000 crore or more or
  • Net profit of 5 crore or more during the immediately preceding financial year
Appointment of Directors/KMP and Auditors
S.No. Name of the Directors/Auditors Which companies are required to form
6. Independent Director
  • Every listed company
  • All public companies

1. with a paid-up capital of Rs.10 Crores or more

OR

2. having turnover of Rs.100 Crores or more;

OR

3. having in aggregate, outstanding loans or borrowings or debentures or deposits exceeding Rs.50 Crores or more.

(Exemption has been provided to certain public companies)

6. Women Director
  • Every listed company
  • All public companies

1. with a paid-up capital of Rs.100 Crores or more

OR

2. having turnover of Rs.300 Crores or more;

7. Small Shareholder Director
  • A listed company upon a notice of not less than 1000 small shareholders or 1/10th of the total number of shareholders whichever is lower.
8. Managing Director OR Chief Executive Officer OR Manager OR in absence Whole Time Director AND Chief Financial Officer
  • Every listed company
  • All public companies

with a paid-up capital of Rs.10 Crores or more

9. Company Secretary
  • Every listed company
  • All companies

with a paid-up capital of Rs.10 Crores or more

10. Internal Auditor
  • Every listed company
  • All public companies

1. with a paid-up capital of Rs.50 Crores or more

OR

2. having turnover of Rs.200 Crores or more;

OR

3. having in aggregate, outstanding loans or borrowings from banks and PFI exceeding Rs.100 Crores or more. OR

4. Having outstanding deposit of 25 crore or more.

  • All private companies

1. having turnover of Rs.200 Crores or more;

OR

2. having in aggregate, outstanding loans or borrowings from banks and PFI exceeding Rs.100 Crores or more.

11. Cost Auditor
  • The companies as notified by the Central government and which are engaged in production of certain goods and services under Sec 148 of Companies Act.
                                                                    OTHERS
12. XBRL Filing
  • Every listed company and its subsidiaries
  • All companies

1. With turnover of 100 crore or more

OR

2. With paid up share capital of 5 crore or more

OR

3. Which are required to prepare financials in accordance with Companies (Indian Accounting Standards) Rules,2015.

*Banking Companies and NBFCs are exempted from such filing.

13. Certificate in Form No. MGT-8 certified by PCS
  • Every listed company
  • All companies

1. With paid up share capital of 10 crore or more

OR

2. Turnover of 50 crore or more

14. Secretarial Audit
  • Every listed company
  • All public companies

1. With paid up share capital of 50 crore or more

OR

2. Turnover of 250 crore or more

  • Every company having outstanding loans or borrowings form banks and FIs of 100 crore or more.
15. Voting by electronic means to be provided in the general meeting
  • Every listed company
  • Every company having not less than 1000 members.
16. Rotation of individual/audit firm as auditor of the company
  • Every listed company
  • All public companies having paid up share capital of 10 crores or more
  • All private companies having paid up share capital of 50 crores or more

OR

  • All companies having public borrowings form FIs, banks of 50 crore or more.

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

My Published Posts

More Under Company Law

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

June 2021
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
282930