Nomination and Remuneration Committee is mandatorily required for:

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_