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Various Committees and provisions under Companies Act, 2013 1. CSR Committee (Section 135 of Companies Act 2013) Every company having the following criteria shall contribute in every financial year, at least two per cent. Of the average net profits of the company made during the three immediately preceding financial years

Net Worth: Rs. 500 Crores

Turnover: Rs. 1000 Crores

Profits: Rs. 5 Crores

2. Audit Committee (Section 177 of Companies Act 2013) Every public company having the following criteria shall constitute an audit committee .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 purpose

Paid up Capital: Rs. 10 Crores Turnover: Rs. 100 Crores

O/s Loans: Rs. 50 Crores

3. Nomination and Remuneration Committee (Section 177 of Companies Act 2013) The Board of Directors of every listed company and the companies under following criteria shall constitute the Nomination and Remuneration Committee consisting of three or more non-executive directors out of which not less than one-half shall be independent directors

Paid up Capital: Rs. 100 Crores

O/s Loans: Rs.50 Crores

4. Vigil Mechanism (Section 177 of Companies Act 2013) Every listed company or following class of companies, shall establish a vigil mechanism for directors and employees to report genuine concerns

O/s Loans: Rs. 50 Crores

5. CARO (Companies Auditor Report Order, 2016) It shall apply to every company including a foreign company as defined in clause (42) of section 2 of the Companies Act, 2013 (18 of 2013 except– 1. Insurance Companies 2. Banking Companies 3. Section -8 Companies 4. One Person Company and a Small Company 5. Private Company not being a holding or a subsidiary company of a public company having the Following criteria during the Financial Year as per the Financial Statements:


Paid up Capital: Rs.1 Crore

Borrowings: Rs.1 crore

Profit: Rs. 10 Crores

6. XBRL (Extensible Business Reporting language) The companies following under following criteria are required to file their financial statements using XBRL Mode and the companies listed with any Stock Exchange(s) in India and their Indian subsidiaries; or (r (i)all companies who were required to file their financial statements for FY 2010-11. However, banking companies, insurance companies, power companies and Non-Banking Financial Companies (NBFCs) are exempted.

Paid up Capital: Rs.5 Crores

Turnover: Rs. 100 Crores

7. MGT-8 (Section 92(2) of Companies Act 2013) Applicable for Listed Companies and the Companies under the following criteria

Paid up Capital: Rs. 10 Crores

Turnover: Rs. 50 Crores

8. Internal Audit (Section 138 of Companies Act 2013) Every listed company:

Always applicable

In the case of Unlisted Public companies, the following criteria should be fulfilled

Paid up Capital: Rs. 50 Crores Turnover: Rs. 200 Crores O/s Loans: Rs. 100 Crores O/s Deposits: Rs. 25 Crores In the case of Private companies, the following criteria should be fulfilled

Turnover: Rs.200 Crore

O/s Loans: Rs. 100 Crore

9. Women Director (Section 149 of Companies Act 2013) Every listed Company: Always applicable Every other public Company, the following criteria should be fulfilled

Paid up Capital: Rs. 100 Crores

Turnover: Rs. 300 Crores


Provisions under companies act 2013