SlideShare a Scribd company logo
1 of 6
Download to read offline
Cos sans women on board
may face graded penalties
Contd..
The Securities and Exchange Board of India (SEBI) is expected to
announce graded penalties for listed companies that fail to appoint
women directors on their boards. But, with public sector companies
and banks being on the defaulters' list, the market regulator is unlikely
to crack the whip hard.
In any case, the failure of companies to comply with the new code is
not just a non-compliance with SEBI's norms but also a violation of the
Companies Act, which first prescribed the rule. On its part, the market
regulator had brought its guidelines on line with the Companies Act
that governs unlisted entities as well.
Contd..
Since the Companies Act allows up to one month for companies to
report change in directorship, the ministry of corporate affairs will wait
at least till early next month before deciding the future course of
action, said sources. SEBI may , however, announce its measures as
early as this week with those companies that comply with the one-
woman director norm earlier facing lower penalty . The Companies Act
also had a deadline till March 31 to comply with the women director
rule.
“Sebi can't be seen to be allowing violation of its diktat but is finding it
tough to initiate strict action given that public sector banks and
companies have violated the norms in large numbers,“ said a source.
Contd..
Experts, however, warned that stiff penalties may not be the best way to
deal with the situation. “It is a technical as well as social change. The idea is
to get good people on the board, not necessarily the promoter's wife. So, it
needs education, persuasion and coercion in right doses,“ said D K Mittal,
who had redrafted the Companies Act during his stint as corporate affairs
secretary . Mittal suggested that the regulators should extend the
compliance deadline by three months or so.
Prithvi Haldea of PRIME Database said, “The regulator should first impose a
monetary penalty and give three months to companies to comply with its
guidelines. If companies still don't comply , then the penalty should be
harsher. Simultaneously, Sebi should work with the government to ensure
that PSUs are compliant.“
Contd..
As many as 12% or 180 of 1,456 companies listed on the National Stock
exchange have failed to appoint a woman director on their boards
within the stipulated March 31 deadline. Since April 2014, 1,832
women directors have been appointed on the boards of 872
companies. Of these companies, only 43 had women directors prior to
the SEBI rule.
For details and bookings contact:-
Parveen Kumar Chadha… THINK TANK
(Founder and C.E.O of Saxbee Consultants & Other-Mother
marketingandcommunicationconsultants.com)
Email :-saxbeeconsultants@gmail.com
Mobile No. +91-9818308353
Address:-First Floor G-20(A), Kirti Nagar, New Delhi India Postal Code-110015

More Related Content

Viewers also liked

Algebra
AlgebraAlgebra
AlgebraJesus
 
Data Science Popup Austin: Surfing Silver Dynamic Bayesian Forecasting for Fu...
Data Science Popup Austin: Surfing Silver Dynamic Bayesian Forecasting for Fu...Data Science Popup Austin: Surfing Silver Dynamic Bayesian Forecasting for Fu...
Data Science Popup Austin: Surfing Silver Dynamic Bayesian Forecasting for Fu...Domino Data Lab
 
India Gadget Expo: Emotion Trumps Gadgets
India Gadget Expo: Emotion Trumps GadgetsIndia Gadget Expo: Emotion Trumps Gadgets
India Gadget Expo: Emotion Trumps GadgetsLevi Shapiro
 
Impacto de las tics en la educación cecilia ferreyra
Impacto de las tics en la educación   cecilia ferreyraImpacto de las tics en la educación   cecilia ferreyra
Impacto de las tics en la educación cecilia ferreyramarianapaniagua
 
Digital Business Architecture
Digital Business ArchitectureDigital Business Architecture
Digital Business ArchitectureIMC Institute
 
Scaling Community Information Systems
Scaling Community Information SystemsScaling Community Information Systems
Scaling Community Information SystemsRalf Klamma
 
Top of most beautiful birds
 Top of most beautiful birds Top of most beautiful birds
Top of most beautiful birdsMakala D.
 
Education in Emergency in Ghana: A Review of the Evidence of Protracted Displ...
Education in Emergency in Ghana: A Review of the Evidence of Protracted Displ...Education in Emergency in Ghana: A Review of the Evidence of Protracted Displ...
Education in Emergency in Ghana: A Review of the Evidence of Protracted Displ...Jenkins Macedo
 

Viewers also liked (8)

Algebra
AlgebraAlgebra
Algebra
 
Data Science Popup Austin: Surfing Silver Dynamic Bayesian Forecasting for Fu...
Data Science Popup Austin: Surfing Silver Dynamic Bayesian Forecasting for Fu...Data Science Popup Austin: Surfing Silver Dynamic Bayesian Forecasting for Fu...
Data Science Popup Austin: Surfing Silver Dynamic Bayesian Forecasting for Fu...
 
India Gadget Expo: Emotion Trumps Gadgets
India Gadget Expo: Emotion Trumps GadgetsIndia Gadget Expo: Emotion Trumps Gadgets
India Gadget Expo: Emotion Trumps Gadgets
 
Impacto de las tics en la educación cecilia ferreyra
Impacto de las tics en la educación   cecilia ferreyraImpacto de las tics en la educación   cecilia ferreyra
Impacto de las tics en la educación cecilia ferreyra
 
Digital Business Architecture
Digital Business ArchitectureDigital Business Architecture
Digital Business Architecture
 
Scaling Community Information Systems
Scaling Community Information SystemsScaling Community Information Systems
Scaling Community Information Systems
 
Top of most beautiful birds
 Top of most beautiful birds Top of most beautiful birds
Top of most beautiful birds
 
Education in Emergency in Ghana: A Review of the Evidence of Protracted Displ...
Education in Emergency in Ghana: A Review of the Evidence of Protracted Displ...Education in Emergency in Ghana: A Review of the Evidence of Protracted Displ...
Education in Emergency in Ghana: A Review of the Evidence of Protracted Displ...
 

More from Saxbee Consultants

Why indian businessmen do not speak their mind
Why indian businessmen do not speak their mindWhy indian businessmen do not speak their mind
Why indian businessmen do not speak their mindSaxbee Consultants
 
Deluge of freshers vies for trickle of it jobs
Deluge of freshers vies for trickle of it jobsDeluge of freshers vies for trickle of it jobs
Deluge of freshers vies for trickle of it jobsSaxbee Consultants
 
India must focus on growth, not worry about inflation, stiglitz
India must focus on growth, not worry about inflation, stiglitzIndia must focus on growth, not worry about inflation, stiglitz
India must focus on growth, not worry about inflation, stiglitzSaxbee Consultants
 
Govt eases funding rules for startups
Govt eases funding rules for startupsGovt eases funding rules for startups
Govt eases funding rules for startupsSaxbee Consultants
 
24×7 restaurant plan faces many hurdles
24×7 restaurant plan faces many hurdles24×7 restaurant plan faces many hurdles
24×7 restaurant plan faces many hurdlesSaxbee Consultants
 
E uwrecker moment, re slides 72 paise, sensex 605 pts
E uwrecker moment, re slides 72 paise, sensex 605 ptsE uwrecker moment, re slides 72 paise, sensex 605 pts
E uwrecker moment, re slides 72 paise, sensex 605 ptsSaxbee Consultants
 
`Forever young' son cuts successor nikesh loose
`Forever young' son cuts successor nikesh loose`Forever young' son cuts successor nikesh loose
`Forever young' son cuts successor nikesh looseSaxbee Consultants
 
No. 1 licence plate sells for $4.9 million
No. 1 licence plate sells for $4.9 millionNo. 1 licence plate sells for $4.9 million
No. 1 licence plate sells for $4.9 millionSaxbee Consultants
 
India's etailers battle it out in game of thrones
India's etailers battle it out in game of thronesIndia's etailers battle it out in game of thrones
India's etailers battle it out in game of thronesSaxbee Consultants
 
Govt job seekers can now access scores online
Govt job seekers can now access scores onlineGovt job seekers can now access scores online
Govt job seekers can now access scores onlineSaxbee Consultants
 
New startups meeting govt norms to escape angel tax
New startups meeting govt norms to escape angel taxNew startups meeting govt norms to escape angel tax
New startups meeting govt norms to escape angel taxSaxbee Consultants
 
Corporate governance in india & sebi regulations
Corporate governance in india & sebi regulationsCorporate governance in india & sebi regulations
Corporate governance in india & sebi regulationsSaxbee Consultants
 
Microsoft enters the marijuana business
Microsoft enters the marijuana businessMicrosoft enters the marijuana business
Microsoft enters the marijuana businessSaxbee Consultants
 

More from Saxbee Consultants (20)

Why indian businessmen do not speak their mind
Why indian businessmen do not speak their mindWhy indian businessmen do not speak their mind
Why indian businessmen do not speak their mind
 
Deluge of freshers vies for trickle of it jobs
Deluge of freshers vies for trickle of it jobsDeluge of freshers vies for trickle of it jobs
Deluge of freshers vies for trickle of it jobs
 
India must focus on growth, not worry about inflation, stiglitz
India must focus on growth, not worry about inflation, stiglitzIndia must focus on growth, not worry about inflation, stiglitz
India must focus on growth, not worry about inflation, stiglitz
 
Govt eases funding rules for startups
Govt eases funding rules for startupsGovt eases funding rules for startups
Govt eases funding rules for startups
 
Trip meter
Trip meterTrip meter
Trip meter
 
24×7 restaurant plan faces many hurdles
24×7 restaurant plan faces many hurdles24×7 restaurant plan faces many hurdles
24×7 restaurant plan faces many hurdles
 
Tourist traffic
Tourist trafficTourist traffic
Tourist traffic
 
E uwrecker moment, re slides 72 paise, sensex 605 pts
E uwrecker moment, re slides 72 paise, sensex 605 ptsE uwrecker moment, re slides 72 paise, sensex 605 pts
E uwrecker moment, re slides 72 paise, sensex 605 pts
 
Brexit pounds global markets
Brexit pounds global marketsBrexit pounds global markets
Brexit pounds global markets
 
Human resource champions
Human resource championsHuman resource champions
Human resource champions
 
Pricing strategies
Pricing strategiesPricing strategies
Pricing strategies
 
`Forever young' son cuts successor nikesh loose
`Forever young' son cuts successor nikesh loose`Forever young' son cuts successor nikesh loose
`Forever young' son cuts successor nikesh loose
 
No. 1 licence plate sells for $4.9 million
No. 1 licence plate sells for $4.9 millionNo. 1 licence plate sells for $4.9 million
No. 1 licence plate sells for $4.9 million
 
India's etailers battle it out in game of thrones
India's etailers battle it out in game of thronesIndia's etailers battle it out in game of thrones
India's etailers battle it out in game of thrones
 
Govt job seekers can now access scores online
Govt job seekers can now access scores onlineGovt job seekers can now access scores online
Govt job seekers can now access scores online
 
New startups meeting govt norms to escape angel tax
New startups meeting govt norms to escape angel taxNew startups meeting govt norms to escape angel tax
New startups meeting govt norms to escape angel tax
 
Diversification strategy
Diversification strategyDiversification strategy
Diversification strategy
 
Corporate governance in india & sebi regulations
Corporate governance in india & sebi regulationsCorporate governance in india & sebi regulations
Corporate governance in india & sebi regulations
 
Microsoft enters the marijuana business
Microsoft enters the marijuana businessMicrosoft enters the marijuana business
Microsoft enters the marijuana business
 
Weak trade
Weak tradeWeak trade
Weak trade
 

Recently uploaded

Increase Your Website Sales & Leads Webinar
Increase Your Website Sales & Leads WebinarIncrease Your Website Sales & Leads Webinar
Increase Your Website Sales & Leads WebinarSEO Optimizers
 
Product Demo: HubSpot's Coolest AI Tools for B2B Tech Companies
Product Demo: HubSpot's Coolest AI Tools for B2B Tech CompaniesProduct Demo: HubSpot's Coolest AI Tools for B2B Tech Companies
Product Demo: HubSpot's Coolest AI Tools for B2B Tech CompaniesKiwi Creative
 
Friends of Search Future Proof Accounts.pptx
Friends of Search Future Proof Accounts.pptxFriends of Search Future Proof Accounts.pptx
Friends of Search Future Proof Accounts.pptxNavah Hopkins
 
Cricket Playbook for Growth Marketers: Adjust x Glance report
Cricket Playbook for Growth Marketers: Adjust x Glance reportCricket Playbook for Growth Marketers: Adjust x Glance report
Cricket Playbook for Growth Marketers: Adjust x Glance reportSocial Samosa
 
SEO Trends in 2024: What You Need to Know to Succeed
SEO Trends in 2024: What You Need to Know to SucceedSEO Trends in 2024: What You Need to Know to Succeed
SEO Trends in 2024: What You Need to Know to SucceedMumbai Pixels
 
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...Sophie Logan
 
The 2024 Next Gen Attention Study - www.livewire.group
The 2024 Next Gen Attention Study - www.livewire.groupThe 2024 Next Gen Attention Study - www.livewire.group
The 2024 Next Gen Attention Study - www.livewire.groupLivewire
 
Harnessing Social Media for Marketing Growth
Harnessing Social Media for Marketing GrowthHarnessing Social Media for Marketing Growth
Harnessing Social Media for Marketing Growthabinashdm2014
 
Snapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdf
Snapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdfSnapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdf
Snapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdfEastern Online-iSURVEY
 
The best Crypto Marketing Strategies pdf
The best Crypto Marketing Strategies pdfThe best Crypto Marketing Strategies pdf
The best Crypto Marketing Strategies pdfShifali roy
 
The Creative Marketing campaigns of WeRoad
The Creative Marketing campaigns of WeRoadThe Creative Marketing campaigns of WeRoad
The Creative Marketing campaigns of WeRoadFabio Bin
 
Top 15 Emerging Technologies for the Modern World
Top 15 Emerging Technologies for the Modern WorldTop 15 Emerging Technologies for the Modern World
Top 15 Emerging Technologies for the Modern WorldD Cloud Solutions
 
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptx
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptxFriends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptx
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptxGregory Edwards
 
A navigation of two creative processes Study
A navigation of two creative processes StudyA navigation of two creative processes Study
A navigation of two creative processes Studystuwilson.co.uk
 
Elevate Your Design Skills: Enroll in Pune's Premier UI/UX Design Course
Elevate Your Design Skills: Enroll in Pune's Premier UI/UX Design CourseElevate Your Design Skills: Enroll in Pune's Premier UI/UX Design Course
Elevate Your Design Skills: Enroll in Pune's Premier UI/UX Design Courseamirshaikhv21realtyp
 
ToShare_UG 13_03_24_Full_BelgianTrailblazerCommunity.pptx
ToShare_UG 13_03_24_Full_BelgianTrailblazerCommunity.pptxToShare_UG 13_03_24_Full_BelgianTrailblazerCommunity.pptx
ToShare_UG 13_03_24_Full_BelgianTrailblazerCommunity.pptxivanrazine1
 
Voltas turnaround strategy management case
Voltas turnaround strategy management caseVoltas turnaround strategy management case
Voltas turnaround strategy management caseAnkit Sarkar
 
Unifying feature management with experiments - Server Side Webinar (1).pdf
Unifying feature management with experiments - Server Side Webinar (1).pdfUnifying feature management with experiments - Server Side Webinar (1).pdf
Unifying feature management with experiments - Server Side Webinar (1).pdfVWO
 
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch Deck
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch DeckPodvertise.fm - Podcast Advertising Marketplace - Startup Pitch Deck
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch DeckNedko Nedkov
 
Imposter Syndrome in Marketing & Why You're Not Alone
Imposter Syndrome in Marketing & Why You're Not AloneImposter Syndrome in Marketing & Why You're Not Alone
Imposter Syndrome in Marketing & Why You're Not AloneHerd
 

Recently uploaded (20)

Increase Your Website Sales & Leads Webinar
Increase Your Website Sales & Leads WebinarIncrease Your Website Sales & Leads Webinar
Increase Your Website Sales & Leads Webinar
 
Product Demo: HubSpot's Coolest AI Tools for B2B Tech Companies
Product Demo: HubSpot's Coolest AI Tools for B2B Tech CompaniesProduct Demo: HubSpot's Coolest AI Tools for B2B Tech Companies
Product Demo: HubSpot's Coolest AI Tools for B2B Tech Companies
 
Friends of Search Future Proof Accounts.pptx
Friends of Search Future Proof Accounts.pptxFriends of Search Future Proof Accounts.pptx
Friends of Search Future Proof Accounts.pptx
 
Cricket Playbook for Growth Marketers: Adjust x Glance report
Cricket Playbook for Growth Marketers: Adjust x Glance reportCricket Playbook for Growth Marketers: Adjust x Glance report
Cricket Playbook for Growth Marketers: Adjust x Glance report
 
SEO Trends in 2024: What You Need to Know to Succeed
SEO Trends in 2024: What You Need to Know to SucceedSEO Trends in 2024: What You Need to Know to Succeed
SEO Trends in 2024: What You Need to Know to Succeed
 
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...
 
The 2024 Next Gen Attention Study - www.livewire.group
The 2024 Next Gen Attention Study - www.livewire.groupThe 2024 Next Gen Attention Study - www.livewire.group
The 2024 Next Gen Attention Study - www.livewire.group
 
Harnessing Social Media for Marketing Growth
Harnessing Social Media for Marketing GrowthHarnessing Social Media for Marketing Growth
Harnessing Social Media for Marketing Growth
 
Snapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdf
Snapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdfSnapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdf
Snapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdf
 
The best Crypto Marketing Strategies pdf
The best Crypto Marketing Strategies pdfThe best Crypto Marketing Strategies pdf
The best Crypto Marketing Strategies pdf
 
The Creative Marketing campaigns of WeRoad
The Creative Marketing campaigns of WeRoadThe Creative Marketing campaigns of WeRoad
The Creative Marketing campaigns of WeRoad
 
Top 15 Emerging Technologies for the Modern World
Top 15 Emerging Technologies for the Modern WorldTop 15 Emerging Technologies for the Modern World
Top 15 Emerging Technologies for the Modern World
 
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptx
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptxFriends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptx
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptx
 
A navigation of two creative processes Study
A navigation of two creative processes StudyA navigation of two creative processes Study
A navigation of two creative processes Study
 
Elevate Your Design Skills: Enroll in Pune's Premier UI/UX Design Course
Elevate Your Design Skills: Enroll in Pune's Premier UI/UX Design CourseElevate Your Design Skills: Enroll in Pune's Premier UI/UX Design Course
Elevate Your Design Skills: Enroll in Pune's Premier UI/UX Design Course
 
ToShare_UG 13_03_24_Full_BelgianTrailblazerCommunity.pptx
ToShare_UG 13_03_24_Full_BelgianTrailblazerCommunity.pptxToShare_UG 13_03_24_Full_BelgianTrailblazerCommunity.pptx
ToShare_UG 13_03_24_Full_BelgianTrailblazerCommunity.pptx
 
Voltas turnaround strategy management case
Voltas turnaround strategy management caseVoltas turnaround strategy management case
Voltas turnaround strategy management case
 
Unifying feature management with experiments - Server Side Webinar (1).pdf
Unifying feature management with experiments - Server Side Webinar (1).pdfUnifying feature management with experiments - Server Side Webinar (1).pdf
Unifying feature management with experiments - Server Side Webinar (1).pdf
 
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch Deck
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch DeckPodvertise.fm - Podcast Advertising Marketplace - Startup Pitch Deck
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch Deck
 
Imposter Syndrome in Marketing & Why You're Not Alone
Imposter Syndrome in Marketing & Why You're Not AloneImposter Syndrome in Marketing & Why You're Not Alone
Imposter Syndrome in Marketing & Why You're Not Alone
 

Cos sans women on board may face graded penalties

  • 1. Cos sans women on board may face graded penalties
  • 2. Contd.. The Securities and Exchange Board of India (SEBI) is expected to announce graded penalties for listed companies that fail to appoint women directors on their boards. But, with public sector companies and banks being on the defaulters' list, the market regulator is unlikely to crack the whip hard. In any case, the failure of companies to comply with the new code is not just a non-compliance with SEBI's norms but also a violation of the Companies Act, which first prescribed the rule. On its part, the market regulator had brought its guidelines on line with the Companies Act that governs unlisted entities as well.
  • 3. Contd.. Since the Companies Act allows up to one month for companies to report change in directorship, the ministry of corporate affairs will wait at least till early next month before deciding the future course of action, said sources. SEBI may , however, announce its measures as early as this week with those companies that comply with the one- woman director norm earlier facing lower penalty . The Companies Act also had a deadline till March 31 to comply with the women director rule. “Sebi can't be seen to be allowing violation of its diktat but is finding it tough to initiate strict action given that public sector banks and companies have violated the norms in large numbers,“ said a source.
  • 4. Contd.. Experts, however, warned that stiff penalties may not be the best way to deal with the situation. “It is a technical as well as social change. The idea is to get good people on the board, not necessarily the promoter's wife. So, it needs education, persuasion and coercion in right doses,“ said D K Mittal, who had redrafted the Companies Act during his stint as corporate affairs secretary . Mittal suggested that the regulators should extend the compliance deadline by three months or so. Prithvi Haldea of PRIME Database said, “The regulator should first impose a monetary penalty and give three months to companies to comply with its guidelines. If companies still don't comply , then the penalty should be harsher. Simultaneously, Sebi should work with the government to ensure that PSUs are compliant.“
  • 5. Contd.. As many as 12% or 180 of 1,456 companies listed on the National Stock exchange have failed to appoint a woman director on their boards within the stipulated March 31 deadline. Since April 2014, 1,832 women directors have been appointed on the boards of 872 companies. Of these companies, only 43 had women directors prior to the SEBI rule.
  • 6. For details and bookings contact:- Parveen Kumar Chadha… THINK TANK (Founder and C.E.O of Saxbee Consultants & Other-Mother marketingandcommunicationconsultants.com) Email :-saxbeeconsultants@gmail.com Mobile No. +91-9818308353 Address:-First Floor G-20(A), Kirti Nagar, New Delhi India Postal Code-110015