Choose the correct option companies required to constitute an audit committee ........

Companies Act-Phase (I & II) Audit and auditors

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Choose the correct option: companies required to constitute an audit committee

All public companies with paid-up capital of five Crore or more

All companies with turnover of hundred crore or more

All public companies with paid up capital of ten Crore or more

All companies with subscribed capital of fifty crore or more

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Explanation:

As per Section 177 read with Companies Act(meeting of boards and its power) all listed public companies and public company having paid up capital of 10 crore or more; Public company having turnover of 100 Cr. or more; all public company having outstanding loans or borrowings of Rs.50 Cr. or more shall form an audit committee.