Which class of Companies should appoint at least one woman director and within what period the Companies should comply?
The Companies Act 2013 mandates the class of companies to appoint at least one woman director in their Board.
Section 149 (1) of the Companies Act, 2013 explains the minimum and maximum number of directors a Company should have in their Board.
Public Limited Company - 3 Directors
Private Limited Company - 2 Directors
One Person Company - 1 Director
Any Company - 15 Directors
However, the Company may appoint more than 15 Directors, after passing a special resolution.
The Company shall have at least one woman director for the following class of Companies:
i) every Listed Company
ii) every other Public Company having paid-up share capital of Rs. 100 Crores or more (or) turnover of Rs. 300 Crores or more
The Company has to comply the mandatory provision of appointing a woman director in the Board,
i) in the case of (i) above: within a period of one year from the commencement of the above provision
ii) in the case of (ii) above: within a period of three years from the commencement of the above mandatory provision