Audit Committee Must Ratify Transactions Under One Crore Within Three Months; Exemptions Apply Per Section 177(4) Companies Act.

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....Audit Committee - to provide for ratification by audit committee of transactions involving amount not exceeding one crore rupees within 3 months of transaction, consequences of non-ratification, exemption from approval of audit committee to related party transactions between holding company and its wholly owned subsidiary, other than those covered under Section 188, etc. - Section 177(4) of the Companies Act, 2013....