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Company directors face penalties for not having women on board - SEBI

Reuters  |  MUMBAI 

MUMBAI (Reuters) - India will consider taking action against directors of companies that do not comply by October with a new rule requiring at least one woman to be on their board, the Securities and Exchange Board of India (SEBI) said on Wednesday.SEBI had last year imposed a quota of one female director on the board of every listed firm. The deadline for compliance expired at the end of last month, after already being extended once last year. The new rule also requires a third of boards to comprise independent directors, who are not related to the promoters or founders of the company.The ...

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First Published: Wed, April 08 2015. 20:32 IST