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of <h1>Listed Companies Must Form Audit and Nomination Committees Per 2014 Rules; 2017 Update Sets Criteria and Compliance Deadline.</h1> The Companies (Meetings of Board and its Powers) Rules, 2014 mandate that the Board of Directors of every listed public company and companies specified under rule 4 of the Companies (Appointment and Qualification of Directors) Rules, 2014 must establish an Audit Committee and a Nomination and Remuneration Committee. This requirement was updated in 2017 to include specific criteria for public companies based on paid-up capital, turnover, and outstanding loans or borrowings. Companies previously not required to have these committees were given a one-year deadline from the rule's commencement or the appointment of independent directors to comply.
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