The following information is given as per audited accounts as on 31 st March, 2023 : Name Status Paid-up Capital (₹) No. of Debenture-holders No. of Shareholders Sun Ltd. Unlisted 125 Nil 1001 Moon Ltd. Listed 575 1001 1
CS Executive · Company Law · PYQS · December 2023
The following information is given as per audited accounts as on 31 st March, 2023 : Name Status Paid-up Capital (₹) No. of Debenture-holders No. of Shareholders Sun Ltd. Unlisted 125 Nil 1001 Moon Ltd. Listed 575 1001 11000 Neptune Ltd. Unlisted 9 1250 999 With respect to above answer the following: (i) Which companies are required to constitute Stakeholders Relationship Committee (SRC) ?
Answer & Explanation:
Section 178(5) of the Companies Act, 2013 provides the constitution of the Stakeholders relationship committee. The Board of directors of company which consist of more than 1000 shareholders, debenture holders, deposit holders and any other security holders at any time during a financial year shall constitute a Stakeholders relationship Committee. All Company i.e., Sun Ltd., Moon Ltd. and Neptune Ltd. meets the above criteria. Hence, all are required to constitute SRC.
Topics: Corporate Governance
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