The Securities and Exchange Board of India (Sebi) has written to the cabinet secretary that women directors and independent directors should be appointed in the Public Sector Undertakings (PSUs) in compliance with the corporate governance norms.
As of April this year, almost 90% of listed PSUs had failed to meet the requirement of appointing an equivalent number of independent directors as the number of functional directors on their boards, the criteria that was set by the markets regulator.
In all, there are a total of 68 government-owned companies that are listed at the National Stock Exchange (NSE). Of these, according to data prepared by primary market advisory firm Prime Database, 31 did not have a woman director on board, which means almost 50% of them being non-compliant.
However, the private firms fare better with only 149 out of the 1,672 non-PSU firms that are listed on the NSE being non-compliant, according to data updated until March 31, 2015. -
See more at: http://www.kcctutorials.com/appoint-women-directors-sebi-tells-govt/#sthash.wilG81Bi.dpuf
As of April this year, almost 90% of listed PSUs had failed to meet the requirement of appointing an equivalent number of independent directors as the number of functional directors on their boards, the criteria that was set by the markets regulator.
In all, there are a total of 68 government-owned companies that are listed at the National Stock Exchange (NSE). Of these, according to data prepared by primary market advisory firm Prime Database, 31 did not have a woman director on board, which means almost 50% of them being non-compliant.
However, the private firms fare better with only 149 out of the 1,672 non-PSU firms that are listed on the NSE being non-compliant, according to data updated until March 31, 2015. -
See more at: http://www.kcctutorials.com/appoint-women-directors-sebi-tells-govt/#sthash.wilG81Bi.dpuf
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