Bosch Ltd is an unlisted public company having PUC of 15 crores turnover of 50 crore and aggregate b...........

Companies Act-Phase (I & II) Board-powersandMeetings

Bosch Ltd is an unlisted public company having PUC of 15 crores, turnover of 50 crore and aggregate borrowing and debt of 50 crores:Will it be required to form a Nomination and Remuneration Committee?

Yes, as the PUC is above 10 crore

Yes, as the turnover is above 10 crores

Yes, as aggregate borrowings are equal to or exceed 50 crores

Yes as all unlisted companies require to have a Nomination and Remuneration Committee

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Explanation:

NOMINATION AND REMUNERATION COMMITTEE
(AS PER SECTION 178 OF THE COMPANIES ACT, 2013)

Sub section (1) of section (178) of the Companies Act, 2013 deals with the Establishment of Nomination and Remuneration Committee.

The Board of Directors of the following companies shall constitute Nomination and Remuneration Committee.

Every Listed Public Company.
The Following Class of Companies

All public companies with a paid up share capital of Rs. 10/- crores or more; or.
All public companies having turnover of Rs. 100/- crore or more; or
All public companies which have, in aggregate, outstanding loans, debentures and deposits, exceeding Rs. 50/- crore.

Note: The paid up share capital ,turnover , outstanding loans, debentures and deposits, as the case may be as existing on the date of last audited financial statements shall be taken into record.