Tempest Ltd., an unlisted company, has 500 shareholders, 400 debenture holders and 200 deposit holders. As a Company Secretary of the Company Advise the Board, if the Company is required to form a Stakeholders' Relations

Section 178(5) of the Companies Act, 2013 stipulates constitution of a Stakeholders' Relationship Committee as mandatory for every company consisting of more than 1000 shareholders, debenture-holders, deposit-holders and any other security holders at any time during a financial year. Section 178(6) states that the Committee shall consider and resolve the grievances of security holders of the company. Further, section 178(7) stipulates that the chairperson of the committee shall attend the general meetings of the company and in his absence, any other member of the Committee authorised by him in this behalf shall attend the general meetings of the company. In view of the aforesaid provisions of the Companies Act, 2013, Tempest Ltd. is required to form a Stakeholders' Relationship Committee and also to comply with the above provisions.