The number of listed companies which have failed to appoint a single woman director on their board has been on a declining trend since 2018-19, data shared by the Ministry of Corporate Affairs in response to a Lok Sabha question showed. Sebi had fined 20 companies till September for FY 2023-24 against 64 in 2019-20. In the pandemic years FY21 and FY22 the number of such listed companies which could not appoint at least one women director had also hit a high of 57 and 62 respectively. The Company Law requires that every listed company and every unlisted public company having paid-up share capital of Rs 100 crores or more or having turnover of Rs 300 crores or more must appoint at least one woman director on its Board.
According to a Sebi circular which came into effect from September 30, 2018, the stock exchanges have been empowered to levy fine or take action in case of non-compliances relating to having a woman director in the Board.
First Published: Feb 09 2024 | 11:41 PM IST