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of <h1>Section 178: Rules on Nomination, Remuneration and Stakeholder Committees for Listed and Large Companies under Companies Act 2013</h1> Section 178 of the Companies Act, 2013 mandates that every listed public company and prescribed classes of companies constitute a Nomination and Remuneration Committee of at least three non-executive directors, with at least half being independent; the company chairperson may be a member but not chair it. The committee identifies and recommends appointment, removal, qualification criteria, and remuneration policy for directors, key managerial personnel, and senior management, and oversees performance evaluation. Companies with over one thousand security holders must form a Stakeholders Relationship Committee to address their grievances, whose chairperson or authorised member must attend general meetings. Contravention attracts specified monetary penalties, excluding good-faith inability to resolve grievances.
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