New Delhi: The 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 1 April, 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 ₹ 100 crore or a minimum turnover of ₹ 300 crore is required to ensure compliance with woman director rules under the Act.