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BSE fines 530 companies for delay in appointing women directors

But analysts say fines insufficient to force companies to give women seats on the Board


The Bombay Stock Exchange (BSE) has slapped fines on 530 listed companies for failing to meet a deadline to appoint a women director and boost gender diversity in their boardrooms, a BSE official said on Tuesday. The Securities and Exchange Board of India (Sebi) last year imposed a quota of at least one female director on the board of every listed firm, and warned of "very serious" consequences if the thousands of companies did not comply by an April 1 deadline. The BSE said in a statement that Sebi rules meant companies who failed to comply would face a scheduled ...

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First Published: Wed, July 15 2015. 10:08 IST