One female independent director must in firms: MCA

Ministry includes provision for the same in the new Companies Bill

sweta-ranjan

Sweta Ranjan | March 9, 2011



Gender representation in corporate boardrooms is set to become fairer with the ministry of corporate affairs moving to make  it mandatory for companies with five or more independent directors to have at least one woman director.

The ministry marked the International Women's Day on March 8 by announcing its decision to include the provision in the proposed Companies Bill 2009.

"The proposed provision in the Companies Bill will give rightful due to our women in the corporate world,” corporate affairs minister Murli Deora said on Tuesday.

Deora said that the move will help put more women at the helm of coporate decision-making.

“While UPA government is making efforts to reserve one third of the seats in Parliament/Assembly for women, this step is in that direction to achieve the cherished objective of women participation in decision making and giving them a rightful place in the society,” the minister added.

Other than the financial sector, no other sector has opened up top poistions to wome, ministry data revealed.

Industry body Assocham, in a study titled 'Corporate Women: Close the Gender Gap and Dream Big', said that women executives would play a fundamental role in shaping market-leading institutions.

However, the study said that presently out of 1,112 directorships of 100 companies listed on the Bombay Stock Exchange, only 59 positions -- or 5.3 per cent -- are held by women. The figure compare poorly to Canada's 15 percent, US' 14.2 percent and Britain's 12.2 percent.

Comments

 

Other News

India calls for doubling bilateral trade with UK by 2030

Commerce and industry minister Piyush Goyal has called upon businesses in India and the United Kingdom to translate the opportunities created by the India-UK Comprehensive Economic and Trade Agreement (CETA) into expanded trade, investment, partnerships and job creation. Addressing the Bu

Gandhian movement after Gandhi failed: Ram Guha

The Gandhian movement in India, after Gandhi’s death, failed, says Ramachandra Guha, and blames Vinoba Bhave for it. But the movement found new, fertile grounds around the world and succeeded in bringing about a change in South Africa, the US and elsewhere. It is high time it returned home. Of cour

When religion, politics and Bollywood come together

Tavleen Singh, noted journalist and political commentator, has turned to fiction, with her debut novel ‘The Actor’ (HaperCollins India). Set in the near future, it has a superstar, Amit Singh, turning to politics, when the political landscape is dominated by prime minister Guru Gaynendraj

Cabinet approves setting up of Integrated Transport & Logistics Authority

The union cabinet, chaired by prime minister Narendra Modi, on Tuesday approved the setting up of a Special Purpose Vehicle (SPV), called Integrated Transport & Logistics Authority (ITLA), to strengthen research, planning, appraisal, monitoring and impact assessment within the broad domains of Transp

Why foundational literacy and numeracy is key to school education

Foundational Literacy and Numeracy (FLN) are often described as the building blocks of education. Yet, their significance goes well beyond a child’s ability to read a sentence, write a response or solve a basic mathematical problem. These foundational skills shape how children understand the world,

When police data becomes the algorithm

For decades, policing has followed a familiar sequence: a crime occurs, the police respond, an investigation produces records and those records become part of the institutional memory of the criminal justice system. Artificial intelligence is beginning to alter that sequence. Instead of merely recording

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter