Woman Director under 2nd Proviso to Section 149(1) of Companies Act, 2013 read with Rule 3 of The Companies (Appointment and Qualifications of Directors) Rules, 2014
At least ONE WOMAN DIRECTOR in following companies:
Turnover Rs. 300 CRS OR MORE
Paid up share capital or turnover, as the case may be, shall be taken as per the latest audited financial statements.
Period of Compliance:
|Companies Existing Prior to Commencement of the Act||One Year from the date of Commencement of the Companies Act, 2013|
|Companies Incorporated After the Commencement of the Act||Six Months from the date of its incorporation|
To be filled in before:
|Immediate next Board Meeting
3 Months from the date of such vacancy
|Whichever is later|
Penalty for Non Compliance
No specific penalty or punishment.
Therefore, Section 172 shall apply which provides general penalty for violation of any of the provisions covered under Chapter XI- Appointment and Qualifications of Directors.
Accordingly, the persons liable are:
|The Company||Rs. 50K + Rs. 500 per day in case of continuing failure
Max Rs. 3 Lacs
|Every Officer of the Company||Rs. 50K + Rs. 500 per day in case of continuing failure
Max Rs. 1 Lac
(In case of any inconsistency or clarification/ suggestions, author can be contacted for further details at [email protected], M.No. +91 8076064476)
Disclaimer: The views and opinions expressed in this article are those of the author. The legal information is not advice and should not be treated as such.