What will be your answer in case Air Voice Limited is a subsidiary of Fast Voice Limited, a listed entity ?

If Air Voice Limited is a subsidiary of Fast Voice Limited, a listed entity: Air Voice Limited is a subsidiary of Fast Voice Limited, a listed entity, is not to be considered as listed company unless the same is registered on the recognised stock exchange. Also since Air Voice Limited is a subsidiary and not a wholly-owned subsidiary, no exemption is given to Air Voice Limited under the prescribed class of companies under Rule 4 for constitution of Audit Committee. Therefore, Air Voice Limited has to comply with the provisions of the Act and rules made thereunder for constitution of the Audit Committee.