51 companies yet to appoint women independent directors to comply with SEBI guidelines

SEBI in its board meeting held on 28th March, 2018 decided that the top 500 listed entities by market capitalisation should have at least one female independent director, on or before April 1, 2019. This is a move by SEBI to promote gender parity in the Indian Companies. But a reality check shows a different picture. As per the data compiled by Prime Database Group, India’s leading provider of data on capital market, 51 companies amongst these 500 listed entities have failed to comply with the rules set by SEBI and some of them also belong to the top 100 entities enlisted by market capitalisation by NSE. Eventually, 42 of the top 500 companies appointed an independent woman director only in the last week of March, i.e., 25th March, 2019 – 1st April, 2019, in spite of having close to a year’s time for the same.

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