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Woman Director in the Board of a Company

“You educate a man; you educate a man. You educate a woman; you educate a generation.”

― Brigham Young

You give a chance to woman and they will prove themselves worthy of it.

The new companies act makes it compulsory on certain class of companies to appoint one woman director on the board. In accordance with the second proviso to sub-section (1) of section 149, such class or classes of companies as may be prescribed, shall have at least one woman director.

Class of companies which shall appoint at least one woman director


Rule 3 of the Companies (Appointment and Qualification of Directors) Rules, 2014 prescribes that the following class of companies shall appoint at least one woman director-
      (i) every listed company;
      (ii) every other public company having -
            (a) paid–up share capital of Rs. 100 crores (one hundred crore rupees) or more; or
            (b) turnover of Rs. 300 crores (three hundred crore rupees) or more:

Provided that a company, which has been incorporated under the Act and is covered under provisions of second proviso to sub-section (1) of section 149 shall comply with such provisions within a period of six months from the date of its incorporation:

Filling of vacancy of a woman director

Any intermittent vacancy of a woman director shall be filled-up by the Board at the earliest but not later than immediate next Board meeting or three months from the date of such vacancy whichever is later.

Explanation.-
The paid up share capital or turnover, as referred above, is as on the last date of latest audited financial statements.


SEBI - Clarification on applicability of appointment of woman director 

(Circular dated September 15, 2014, No. CIR/CFD/POLICY CELL/7/2014)
 
The provisions regarding appointment of woman director as provided in Clause 49 (II)(A)(1) shall be applicable with effect from April 01, 2015.
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