Woman Directors on the Board of Indian Companies: A Myth or Reality

Abstract

Recently, the companies, JM Financial Properties and Holdings, Shankar Packagings, Krishna Solvechem, a wholly-owned subsidiary of the Maharashtra State Road Development Corporation were fined for not appointing woman director on their boards. The appointment of a woman director on board was introduced in India in 2013 by enacting the legislation, of the Companies Act, 2013. And, the Listing regulations also made it mandatory for listed companies to have one woman director and the rule was to be complied by April 2015. But, from the incident of imposition of the fine, it can be inferred that there is no complete compliance yet even after 8 years. Therefore, an attempt is made to find out how far the rules relating to women directors have been complied within India.