Automatic Non Applicability of Section 177 and 178 of the companies Act, 2013

[harish choursiya]

Suppose a public company which is itself a Joint venture company as per Rule 4, sub rule 2  of co.(Appointment and Qualification of directors), Rules 2014 which says  that provision of Rule 4(1) shall not be applicable to a joint venture co. 

Rule 4(1) says about the criteria of applicability of Independent Directors (ID), Audit committee and Nomination Committee.

Conclusion -  Provision of ID will not be applicable due to Relaxation given under Rule 4(2) 

Can we understand as that we have also relaxation from constitution of Audit committee and Nomination committee?