Laxity in ensuring compliance with women director norms: Tyagi

Sebi chairman Ajay Tyagi today said there is some laxity in ensuring compliance with regulations mandating listed companies to appoint at least one woman director on their respective boards.
"I am seeing that in terms of penalties which NSE can impose, the collection of those penalties is not there. I just saw it today. Even penalties that they can impose and collect even in that there is some laxity. It is similar with BSE also," the Sebi chief said at an event here.
Concerned that there is a problem in enforcing the regulations, Tyagi said he would also evaluate the situation within the capital market watchdog.

As per Sebi norms, stock exchanges can impose penalties on companies which have not complied with the requirement of appointing at least one woman director on its board.
Sebi had laid out a four-stage penalty structure wherein fines increase with the passage of time.
The regulator had asked the stock exchanges to levy the fines as the violation relates to the listing agreement. As a result, the fines would multiply for the companies listed on multiple exchanges.
All listed firms were required to have at least one woman director on their boards from April 1, 2015, as per a Sebi directive, as also under the Companies Act, 2013.

Asked about status on Sebi approval on appointment of Vikram Limaye as NSE chief executive, Tyagi said a decision on the same would be taken soon.