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Showing posts with the label rule 3 of companies rules 2014

All about Women Directors, mandatory appointment of a Women Director.

  As per second proviso to sub section 1 of section 149 , following class of companies to have at least one woman director mandatorily. As per Rule 3 of Companies (Appointment and Qualifications of Directors) Rule 2014 - Women Director on Board: Every listed company and Every Unlisted company having- (a) PSC of Rs 100 cr or more; or (b) Turnover of Rs 300 cr or more to have at least one woman director on Board. Intermittent vacancy of Women Director:- It should be filled at the earliest but not later than immediate next board meeting and within 3 months from such vacancy whichever is later. For example- Monu Steels Limited, a public company having only one women director on Board. Office of such woman director become vacant due to her sudden demise on 29.09.2020 . New women director is appointed in Board Meeting held on 10.01.2021 . The above appointment is valid as per the provisions of Rule 3 provided board meeting held on 10.01.2021 is the immediate next board meetin...