Difference between the constitution of various committees to be constituted under SEBI (LODR) regulations 2015 and companies act 2013 which includes Audit Committee, Nomination & Remuneration Committee and Stakeholder Relationship Committee.

1. Audit Committee

Point Of Difference SEBI (LODR) Regulations 2015 The Company Act 2013
Members Minimum 3 Directors Minimum 3 Directors
Independent Directors Min 2/3rd of the total members should be Independent Directors Majority of members should be Independent Directors
Financial Literacy All members should posses financial literacy and one should be expert of that Majority of members including Chairperson should be financial literate
Chairperson Independent Director Act is silent
Secretary Company Secretary Act is silent

2. Nomination & Remuneration Committee

Point Of Difference SEBI (LODR) Regulations 2015 The Company Act 2013
Members Minimum 3 Directors Minimum 3 Directors
Independent Directors Min 50% of the directors should be Independent Director Majority of Directors should be Independent
Non-Executive Directors All Directors should be Non Executive Min 3 Directors
Chairperson Independent Director Act is silent
Provision for the Chairperson of COMPANY The Chairperson of the company (whether executive or non-executive) can be appoint as member but cannot be chair this committee The Chairperson of the company (whether executive or non-executive) can be appoint as member but cannot be chair this committee

3. Stakeholder Relationship Committee

Point Of Difference SEBI (LODR) Regulations 2015 The Company Act 2013
Members Min 3 Directors Any
Independent Directors Have 1 Independent Director Act is silent
Chairperson Non Executive Non Executive

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