Role of women director part 3

1. What are the financial thresholds for a company to constitute a Corporate Social Responsibility (CSR) Committee as per Section 135 of the Companies Act, 2013?

• Net Worth of Rs. 100 Crore or more

• Turnover of Rs. 500 Crore or more

• Net Profit of Rs. 10 Crore or more

• Net Worth of Rs. 500 Crore or more, Turnover of Rs. 1,000 Crore or more, or Net Profit of Rs. 5 Crore or more

2. What is the responsibility of the CSR Committee as per the Companies Act, 2013?

• Oversee financial reporting and internal controls

• Ensure transparency and accountability in corporate governance

• Monitor and review the calculation of expenditure on CSR activities

• Review the company's risk management framework

3. What is the primary role of the Audit Committee in a company?

• Monitoring financial reporting and reviewing financial statements

• Ensuring compliance with applicable laws and regulations

• Overseeing the company's CSR initiatives

• All of the above

4. 4. What is the minimum number of directors required to constitute an Audit Committee as per the Companies Act, 2013?

• One director

• Two directors

• Three directors

• Four directors

5. 5. What are the criteria for a company to be classified as a wilful defaulter as per the case study "V Selvaraj Vs RBI" ?

• Involvement in illegal activities

• Declaration of assets as NPA by a financial institution

• Accounting malpractices identified by RBI

• All of the above