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of <h1>India Mandates Audit and Nomination Committees for Public Companies to Boost Governance under 2014 Amendment Rules</h1> The Companies (Meetings and Powers of Board) Amendment Rules, 2014, were notified by the Government of India on June 12, 2014. These amendments to the Companies Act, 2013, require certain public companies to establish an Audit Committee and a Nomination and Remuneration Committee within one year from the commencement of these rules or the appointment of independent directors, whichever is earlier. The amendments aim to enhance corporate governance by ensuring that public companies have appropriate committees in place to oversee financial reporting and executive compensation. These rules took effect upon their publication in the Official Gazette.
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