Over 4.8 lakh women directors on cos board

There are over 4.8 lakh women directors on the boards of various companies including state-owned firms, Parliament was informed today.

As of November 2013, there were 4,83,103 women directors on boards of firms (including state-owned entities) registered under the Companies Act, Corporate Affairs Minister Sachin Pilot said in a written reply to Rajya Sabha.

Official data show that there were about 13.29 lakh companies registered at the end of June 2013. Out of them, there are only around 8.84 lakh active companies.

The Companies Act 2013, provides for the certain class of firms to have at least one women director on their boards.

The Minister said that draft indicating the class of companies which are mandated to have at least one women director on their respective board have already been put in public domain for their comments before their finalisation.

In reply to another question, Pilot said that a total of Rs 693.37 crore undisbursed funds have been credited to the Investor Education and Protection Fund (IEPF), which forms part of the Consolidated Fund of India, in the last 12 years.

Between 2001-02 and 2012-13, Rs 637.17 crore had been credited to the Consolidated Fund of India.

The government has established IEPF through which unclaimed funds on account of dividends, matured deposits, matured debentures and share application money are transferred to the government by the company on completion of seven years.

To a separate query, Pilot denied that the Competition Commission of India (CCI) conducted any probe into alleged cartelisation among mobile operators during the recent airwave auction that had elicited tepid response.

CCI Chairman Ashok Chawla, in September, had said that Commission would take into account the telecom regulator TRAI's proposal to slash spectrum floor price, before deciding on a formal probe into alleged cartelisation among mobile operators.