1

AB, listed Company was constituted in 2012. It has 8 directors Mr. N, Mr. K, Mr. Ram, Mr. S, Mr. A, Mr. B, Mr. Raheem & Mr. Das. Out of these directors Mr. Ram, Mr. S, Mr. A & Mr. N has a good financial knowledge. audit committee constituted by company included Mr. K, Mr.Das, Mr. A & Mr. Raheem as its chairpersons. After commencement of Companies Act, 2013, it was required for every audit committee of a company existing before commencement of this Act, shall be reconstituted in 1 year of such commencement. Find correct statement w.r.t. this situation?

  • A

    Committee needs to reconstitute as majority members are not experienced in field of Finance

  • B

    Committee needs to reconstitute as 2/3rd of its members arent experienced in field of Finance

  • C

    Committee needs to reconstitute as 50 % of its members arent experienced in field of Finance

  • D

    Committee needs to reconstitute as majority of board members are not included in it.