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Nomination and Remuneration Committee is mandatorily required for:
AEvery company
BOnly listed companies
CEvery listed company AND public companies satisfying specified threshold of paid-up + turnover/borrowings
DOnly Section 8 companies
Answer & Solution
Correct answer: C. Every listed company AND public companies satisfying specified threshold of paid-up + turnover/borrowings
1. Section 178 — applicable to every listed company and to public companies with paid-up capital ≥ Rs 10 crore, turnover ≥ Rs 100 crore or aggregate borrowings ≥ Rs 50 crore.
2. Private companies and small public companies are outside the net.
3. Hence (C).
_Source: ICAI BoS CA Inter Paper 2 — Management and Administration_