Woman Director short notes
Every listed company shall appoint at least one woman director within one year from the commencement of the second proviso to Section 149(1) of the Act.
Every other public company having paid up share capital of Rs. 100 crores or more or turnover of Rs. 300 crore or more as on the last date of latest audited financial statements, shall also appoint at least one woman director within 1 years from the commencement of second proviso to Section 149(1) of the Act.
A period of six months from the date of company’s incorporation, has been provided to enable the companies incorporated under Companies Act, 2013 to comply with this requirement. It is better to say that existing companies (under the previous companies act) has to comply the above requirements within one year and new companies (under the new companies act) has to comply within 6 months from the date of its incorporation.
Further if there is any intermitt ent vacancy of a woman director then it shall be filled up by the board of directors within 3 months from the date of such vacancy or not later than imm ediate next board mee ting, wh ichever is later.
(Rule 3 of Companies (App ointment and Qualification of Directors) Rules, 2014)