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As per press release of PIB dated 08-08-2014, the Minister of State for Finance, Smt. Nirmala Sitharaman in written reply to a question in Lok Sabha today has stated, “Securities and Exchange Board of India (SEBI), vide its circular No. CIR/CFD/POLICYCELL/2/2014 dated April 7, 2014 has mandated that the Board of Directors of the listed company shall have atleast one woman director on its Board. As per para 4.1 of the said circular, the deadline for implementation of this directive is October 1, 2014” However, It should be noted that provisions related to the appointment of woman directors are currently prescribed by SEBI as well as the Companies Act 2013
(a) Provisions related to woman director as per SEBI
Sub: Corporate Governance in listed entities - Amendments to Clauses 35B and 49 of the Equity Listing Agreement
Part-B 1. The Board of Directors of the company shall have an optimum combination of executive and non-executive directors with at least one woman director and not less than fifty percent of the Board of Directors comprising non-executive directors. Read Full Circular >>
(b) Provisions related to woman director as per Companies Act, 2013
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:
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