All listed companies, whether PSUs or from private sector, are required to have at least one woman director on their board, deadline for which expired on March 31, 2015.The new Companies Act has provisions for at least one woman director and a minimum one-third independent directors.
The issue of non-compliance by the CPSEs on these matters was discussed by the Sebi board in its last meeting. According to a board memorandum, Sebi took up the matter with the Cabinet Secretary last month regarding filling up the posts of independent directors or appointing a woman director at the CPSEs. Sebi is of the view that there should not be any exemptions for PSUs when it comes to compliance to norms for listed companies.
To ensure parity between listed PSUs and their private sector peers, regulator Sebi has asked the government to fill all vacancies for women and independent directors at the central public sector enterprises. All listed companies, whether PSUs or from private sector, are required to have at least one woman director on their board, deadline for which expired on March 31, 2015.
