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MCA acts against 169 Cos for not having women directors
PrintThe Ministry of Corporate Affairs has initiated prosecutions against 169 companies for failure to appoint at least one woman director on their boards.
Certain class of listed and unlisted firms are required to have at least one woman director on their boards under the Companies Act, 2013 -- whose most provisions came into effect from April 1, 2014.
"There are 307 companies who have complied with the mandate of law of nominating women to the board of directors. There are 169 companies against whom prosecutions have been launched for failure to nominate women directors," Corporate Affairs Minister Arun Jaitley told the Lok Sabha.
Besides, 16 companies have filed compounding applications against prosecutions for offence relating to non-appointment of women directors, he said in a written reply.
Every company having paid-up share capital of at least Rs 100 crore or a minimum turnover of Rs 300 crore is required to ensure compliance with woman director rules under the Act.
To a query on details of investors in electronic media including prominent news channels, Jaitley said this information is "not available" with the Ministry.
"Industrial activity wise classification of companies do not include 'electronic media' as a specific activity. However, number of active companies covered under television activities as on March 24 stood at 364 with total paid up capital of around Rs 4,044 crore," Jaitley said in a separate written reply. #casansaar (Business Standard)
Certain class of listed and unlisted firms are required to have at least one woman director on their boards under the Companies Act, 2013 -- whose most provisions came into effect from April 1, 2014.
"There are 307 companies who have complied with the mandate of law of nominating women to the board of directors. There are 169 companies against whom prosecutions have been launched for failure to nominate women directors," Corporate Affairs Minister Arun Jaitley told the Lok Sabha.
Besides, 16 companies have filed compounding applications against prosecutions for offence relating to non-appointment of women directors, he said in a written reply.
Every company having paid-up share capital of at least Rs 100 crore or a minimum turnover of Rs 300 crore is required to ensure compliance with woman director rules under the Act.
To a query on details of investors in electronic media including prominent news channels, Jaitley said this information is "not available" with the Ministry.
"Industrial activity wise classification of companies do not include 'electronic media' as a specific activity. However, number of active companies covered under television activities as on March 24 stood at 364 with total paid up capital of around Rs 4,044 crore," Jaitley said in a separate written reply. #casansaar (Business Standard)
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