The Parliament on August 8, 2013 ratified the Companies Bill 2012. Select the correct statements about the provisions of the new Bill...
(A) An independent director cannot serve on the board of the same company for more than two consecutive terms.
(B) Every company with a net worth of at least Rs.500 crore, or a minimum turnover of Rs. 1,000 crore, or net profit of at least Rs.5 crore in a year, will have to spend 2% of its average profits of three years on corporate social responsibility activities.
(C) The law will allow shareholders associations to take legal action against promoters and management through class action suits
(D) Companies will have to rotate auditors after every four years