Women Director Archives - Tax Heal https://www.taxheal.com/tag/women-director Complete Guide for Income Tax and GST in India Mon, 12 Sep 2016 03:48:51 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 Compounding for delay in appointment of women director https://www.taxheal.com/compounding-for-delay-in-appointment-of-women-director.html https://www.taxheal.com/compounding-for-delay-in-appointment-of-women-director.html#respond Mon, 12 Sep 2016 03:48:51 +0000 http://taxheal.com/?p=14009 NCLT Compounding for delay in appointment of women director Company was supposed to appoint woman  director by 31.12.2014  but  appointed only  in March  2016 after  a delay of 14 months, thus violating Sec.149 of CA 2013 and attracting punishment prescribed u/s 172 of the  Act.  ROC initiated criminal proceedings u/s 251 of CrPC read with Sec.450… Read More »

]]> NCLT Compounding for delay in appointment of women director

Company was supposed to appoint woman  director by 31.12.2014  but  appointed only  in March  2016 after  a delay of 14 months, thus violating Sec.149 of CA 2013 and attracting punishment prescribed u/s 172 of the  Act.  ROC initiated criminal proceedings u/s 251 of CrPC read with Sec.450 of CA2013. Thereafter company filed compounding application with CLB, which was transferred to NCLT.  Company contended that its commercial activity is closed since the year 2000 and its capital has been eroded and it  is proposed to close the company.  NCLT Hyderabad vide order dated 29.8.2016 permitted the company to  compound the offence without permission of the criminal court on payment of fee of Rs.1 lac by the company and Rs.50,000 by each of 3 directors.

Complete Order on Compounding for delay in appointment of women director

]]> https://www.taxheal.com/compounding-for-delay-in-appointment-of-women-director.html/feed 0 Compliance of SEBI Directive on Women Director https://www.taxheal.com/compliance-of-sebi-directive-on-women-director.html https://www.taxheal.com/compliance-of-sebi-directive-on-women-director.html#respond Tue, 10 May 2016 12:41:36 +0000 http://taxheal.com/?p=9686 Compliance of SEBI Directive on Women Director The requirement of appointment of woman director emanates from Section 149 of Companies Act, 2013.  SEBI has mandated that listed companies to appoint one woman director on its board.  Companies can appoint any woman as director who is not otherwise disqualified for appointment as a director in terms… Read More »

]]> Compliance of SEBI Directive on Women Director

The requirement of appointment of woman director emanates from Section 149 of Companies Act, 2013.  SEBI has mandated that listed companies to appoint one woman director on its board.  Companies can appoint any woman as director who is not otherwise disqualified for appointment as a director in terms of requirements of the Companies Act, 2013 and such a director can be either executive or non-executive or independent or non-independent director.

As per inputs of SEBI, details of woman directors on the boards of listed companies as on March 31, 2016 is as under:

Particulars BSE NSE
Total number of listed companies 5451 1759
Number of companies that have appointed woman director 4128 1568
Number of companies that have not appointed woman director 1323 191
Number of non-compliant active companies 187 42
Number of non-compliant suspended companies 1136 149

 

SEBI has not mandated any requirement for listed companies to report whether a director is a family member of promoter or top executive.  Therefore, data related to woman director being family member of promoters or top executives is not available with stock exchanges.

 

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Rajya Sabha today.

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