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Aliasgar H Bharmal asked 1 year ago

According to sec 177 exemptions in forming audit committee does a wholly owned subsiduary of a holding of listed company doesn’t need to form audit committee elaborate the exemptions in detail if possible??

1 Answers
RaviRavi Staff answered 1 year ago

yes there exemption to
whole owned subsidiary , Joint Venture & Dormant Company
For dormant company it is understood as no transactions are taking place
other 2 are given exemption as Audit Committee of holding / Venturing  company can look after accounts audit of these companies 

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