SEBI has one woman on its board

Chennai: The Indian market regulator gearing to penalise listed companies not having a woman director on their boards has one woman in a similar position.

Clarifying to earlier reports that the Securities and Exchange Board of India (SEBI) does not have a woman member on its board, it said: "secretary, Ministry of Corporate Affairs, Ms Anjuli Chib Duggal is a member of the SEBI Board."

The SEBI is gearing up to penalise listed companies not having a woman director on their boards.

As per the company law, every listed company or every other public company having a paid up capital of Rs.100 crore or more or a turnover of Rs.300 crore or more should have a woman on its board by March 31, 2015.

Speaking to reporters in Mumbai a couple of days back, SEBI chairman U.K. Sinha said it is very shameful that the listed companies were not able to find one competent woman to be on their board and the panel would take a serious view of those companies that do not abide by the stipulation.

He cited the penalties levied by SEBI on those listed companies that did not comply with the regulation of bringing down the promoter holding to 25 percent.