Naresh Goyal brings wife Anita on Jet Airways board

Appointment made in order to comply with Sebi's norm for listed firms to have at least one woman director on board

Private carrier Jet Airways has appointed Anita Goyal, wife of founder-Chairman Naresh Goyal, as additional director to comply with Sebi's norm for listed companies to have at least one woman director on board.

Anita would be additional director in a non-executive and non-independent role with effect from April 8, Jet Airways today said in a filing to the stock exchanges.

She is the only woman on Jet Airways' board. However, she was already a part of the senior management team as Executive Vice President (Revenue Management and Network Planning).

Jet Airways said: "The Board of Directors of the Company has appointed Anita Naresh Goyal as an Additional Director (non-executive and non-independent) with effect from April 8, 2015."

The company would still have to pay a fine of Rs 50,000 as it failed to appoint at least one woman director within the stipulated deadline of March 31.

The capital markets regulator Sebi yesterday had announced a four-stage penalty structure wherein fines would increase with the passage of time.

According to Sebi, listed companies complying between April 1 and June 30 will have to pay only Rs 50,000. Those complying between July 1 and September 30 this year would need to pay Rs 50,000 and an additional Rs 1,000 per day till they comply.

The listed companies complying on or after October 1, 2015 will have to pay Rs 1.42 lakh, plus Rs 5,000 per day till the date of compliance.

"For any non-compliance beyond September 30, 2015, Sebi may take any other action, against the non-compliant entities, their promoters and/or directors or issue such directions in accordance with law, as considered appropriate," the regulator had said in a circular.

The market watchdog, in February last year, had asked all listed companies to appoint at least one woman director by October 1, 2014 and later extended the deadline for six months.