Nomination and remuneration committee and stakeholders relationship committee under section 178 of the companies act 2013

NOMINATION AND REMUNERATION COMMITTEE AND STAKEHOLDERS RELATIONSHIP COMMITTEE

The applicability of the Nomination And Remuneration Committee And Stakeholders Relationship Committee is governed by Section 178 of the Companies Act, 2013.

According to Section 178, the following companies are required to constitute an Nomination And Remuneration Committee And Stakeholders Relationship Committee:

• Every listed Public company
• Public companies with a paid-up share capital of 10 crore rupees or more.
• Public companies with a turnover of 100 crore rupees or more.
• all public companies, having in aggregate, outstanding loans or borrowings or debentures or
  deposits exceeding 50 crore rupees or more.

Explanation.- The paid up share capital or turnover or outstanding loans, or borrowings or debentures or deposits, as the case may be, as existing on the date of last audited Financial Statements shall be taken into account for the purposes of this rule.

MEMBERS OF NOMINATION AND REMUNERATION COMMITTEE AND STAKEHOLDERS RELATIONSHIP COMMITTEE

• Nomination and Remuneration Committee consisting of three or more non-executive Directors out of which not less than one-half shall be Independent Directors.
• Provided that the chairperson of the Company (whether executive or non-executive) may be appointed as a member of the Nomination and Remuneration Committee but shall not chair such Committee.