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Difference between the constitution of various committees to be constituted under SEBI (LODR) regulations 2015 and companies act 2013


Difference between the constitution of various committees to be constituted under SEBI (LODR) regulations 2015 and companies act 2013

1. Audit Committee

Point Of Difference
SEBI (LODR) Regulations 2015
The Company Act 2013
Members
Minimum 3 Directors
Minimum 3 Directors
Independent Directors
Min 2/3rd of the total members should be Independent Directors
Majority of members should be Independent Directors
Financial Literacy
All members should posses financial literacy and one should be expert of that
Majority of members including Chairperson should be financial literate
Chairperson
Independent Director
Act is silent
Secretary
Company Secretary
Act is silent







2. Nomination & Remuneration Committee


Point Of Difference
SEBI (LODR) Regulations 2015
The Company Act 2013
Members
Minimum 3 Directors
Minimum 3 Directors
Independent Directors
Min 50% of the directors should be Independent Director
Majority of Directors should be Independent
Non-Executive Directors
All Directors should be Non Executive
Min 3 Directors
Chairperson
Independent Director
Act is silent
Provision for the Chairperson of COMPANY
The Chairperson of the company (whether executive or non-executive) can be appoint as member but cannot be chair this committee
The Chairperson of the company (whether executive or non-executive) can be appoint as member but cannot be chair this committee




3. Stakeholder Relationship Committee

Point Of Difference
SEBI (LODR) Regulations 2015
The Company Act 2013
Members
Min 3 Directors
Any
Independent Directors
Have 1 Independent Director
Act is silent
Chairperson
Non Executive
Non Executive

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