Consultancy major Deloitte Global said that women hold about 12 %
of board seats worldwide while only 4 per cent of them are at the helm
of boards.
It noted that many Indian companies have started appointing women directors to their boards, at executive as well as non executive positions.
The findings are part of the report titled 'Women in the Boardroom: A Global Perspective' released earlier this week. It is based on a data of nearly 6,000 companies spread across 40 countries, including India.
In terms of percentage of board seats held by women, India's score stood at 7.7 % while that of China was at 8.5%. The US had a score of 12.2 % and that of Germany was 18.3 %
The highest percentage of women directors were in Norway (36.7%), followed by France (29.9 %), Sweden (24.4 %), Italy (22.3 %) and Finland (22.1 %).
However, Japan (2.4 %), Brazil (6.3 %), Russia (5.7 %), Republic of Korea (1.7 %) and Indonesia (3.7 %) are placed below India
Note
The Securities and Exchange Board of India vide its circular
dated 17th April, 2014 made it mandatory for all the listed
companies to appoint at least one Woman Director on their Board of
Directors by 31st March, 2015 in alignment with the requirement of
Section 149 of the Companies Act, 2013, under corporate governance
norms.
In furtherance to above, SEBI on 08.04.15 issued a Circular bearing reference no. CIR/CFD/CMD/1/2015 and subject as "Fine structure for non-compliance with the requirement of Clause 49(II)(A)(1) of Listing Agreement" to all Managing Directors/Executive Directors and all recognized Stock Exchanges.
SEBI's circular directs that all companies which have not yet complied with the norm but manage to do so by June 2015 will be levied a fine of INR 50,000. Further, companies, which comply with this requirement between July and September 2015, will be charged INR 50,000 and an additional fine of INR 1,000 per day till the date of compliance. Moreover, companies complying with the norms on or after October 1, 2015 will have to pay INR 1,42,000 along with an additional charge of INR 5,000 per day till the date of compliance.
It noted that many Indian companies have started appointing women directors to their boards, at executive as well as non executive positions.
The findings are part of the report titled 'Women in the Boardroom: A Global Perspective' released earlier this week. It is based on a data of nearly 6,000 companies spread across 40 countries, including India.
In terms of percentage of board seats held by women, India's score stood at 7.7 % while that of China was at 8.5%. The US had a score of 12.2 % and that of Germany was 18.3 %
The highest percentage of women directors were in Norway (36.7%), followed by France (29.9 %), Sweden (24.4 %), Italy (22.3 %) and Finland (22.1 %).
However, Japan (2.4 %), Brazil (6.3 %), Russia (5.7 %), Republic of Korea (1.7 %) and Indonesia (3.7 %) are placed below India
Note
In furtherance to above, SEBI on 08.04.15 issued a Circular bearing reference no. CIR/CFD/CMD/1/2015 and subject as "Fine structure for non-compliance with the requirement of Clause 49(II)(A)(1) of Listing Agreement" to all Managing Directors/Executive Directors and all recognized Stock Exchanges.
SEBI's circular directs that all companies which have not yet complied with the norm but manage to do so by June 2015 will be levied a fine of INR 50,000. Further, companies, which comply with this requirement between July and September 2015, will be charged INR 50,000 and an additional fine of INR 1,000 per day till the date of compliance. Moreover, companies complying with the norms on or after October 1, 2015 will have to pay INR 1,42,000 along with an additional charge of INR 5,000 per day till the date of compliance.
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