NTPC Ltd NSE NTPC engaged in retail business has a paid up share Capital of 5 5 crore with total out...........

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

NTPC Ltd. (NSE: NTPC) engaged in retail business has a paid up share Capital of 5.5 crore, with total outstanding liabilities incl. loans and debentures) of 11 crores. It made a turnover of 50 crores . Is it required to appoint an Audit Committee?

Yes, as it has turnover over minimum limit

Yes, as it has liabilities over minimum limit

Yes, as its share capital is over minimum limit

Yes, as it is a Listed Public Company

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Explanation:

According to Sec 177. Audit Committee

(1) The Board of Directors of every listed company and such other class or classes of companies, as may be prescribed, shall constitute an Audit Committee.

(2) The Audit Committee shall consist of a minimum of three directors with independent directors forming a majority: