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Rediff.com  » Business » After Sebi barb, listed cos begin appointing women directors

After Sebi barb, listed cos begin appointing women directors

March 24, 2015 19:53 IST

Within days of regulator Sebi's barb, listed companies have begun running from pillar to post to appoint women directors on their respective boards with at least 50 such appointments being made today itself.

The companies that announced appointment of women directors today included big names like Tata International, Bajaj Auto, as also a host of mid-cap and small-cap firms, with the deadline approaching fast for all listed firms to have at least one woman director before April 1.

Coming hard on listed firms avoiding appointment of at least one woman director, Sebi Chairman U K Sinha last Friday said it is "very shameful" that 8,000-9,000 companies are not finding even one woman competent enough to be on their board. companies that fail to meet the deadline would face strict regulatory action by Sebi and stock exchanges.

Tata International said in a regulatory filing that its board has decided to appoint Vedika Bhandarkar as a Non-Executive Independent Director with effect from today.

Bajaj Auto, on the other hand, announced resignation of Suman Kirloskar as an indendent director from close of office hours on March 31, but announced appointment of another woman member, Gita Piramal, on its board. Kirloskar has been on its board for over 12 years. Shriram EPC Ltd also announced appointment of Chandra Ramesh as a woman member on its board.

Other companies that announced appointment of woman directors today included Maxwell Industries, Simplex Infra, Ceenik Exports India, Piramal Phytocare, Vyapar Industries, Shree Nath Commercial and Finance, TANFAC Industries, Shri Bajrang Alloys, Saraswati Commercial India, Banas Finance, Jaysynth Dyestuff, ABC Bearings and Tilak Finance.

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