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Appointment of cfo of a listed psu

(Querist) 29 July 2013 This query is : Resolved 
As per clause 49(II)(D12A) of listing agreement with stock exchanges , appointment of CFO of a company is required to be approved by Audit Commitee before finalisation of the appointment by the management of the company . Does this apply to a govt. public sector company also , where CFO is normally Director Finance and is appointed by the govt. /ministry , in line with articles of association of the company ?Please advise .Regards
Raj Kumar Makkad (Expert) 29 July 2013
The given condition is not applicable in case of Govt. companies.

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