A lady can make huge commitments to the Board of a Company, possessing to their schooling and capacity to perform multiple tasks consistently. In any case, the portrayal of Women on the Board of Indian organizations and ladies business venture is low. To support Women cooperation, the Government has presented different plans for advancing ladies Entrepreneurship and require certain organizations to obligatorily have lady Director on the Board. In this article, we audit such a necessity concerning a lady chief in an organization.
Compulsory Requirement for Woman Director
The Companies Act and Companies Rules require every recorded organization and all organizations (Private Limited Company or Limited Company) having a turnover of more than Rs.300 crores or having a settled up share capital of Rs.100 crores to have a Woman Director on the Board. The Woman Director should be enlisted into the Board of Directors inside a half year of the date of fuse of the Company.
On account of existing organizations, the compulsory prerequisite for lady chief should be satisfied inside one year before 31st March 2015. Further, the Board of Directors should satisfy the irregular opening of a lady Director at the following Board Meeting, not later than a quarter of a year from the date of the opportunity.
Requirement for Becoming a Director
To turn into a Director in an Indian Company, the candidate should initially get a PAN (in the event of Indian National) and DIN (Director Identification Number). There are no instructive or experience necessity for turning into a Director. Further, no requirement for the Directors to be specialists or have related knowledge or information to stand firm on the footing of Director.
Likewise, to turn into a Director, the individual should be beyond 18 years old years and should can contract. There is no prerequisite as far as identity or citizenship or residency necessity. In any case, to turn into a Managing Director or an entire time Director, the individual should be beyond 21 70 years old and not over 70 years old. Henceforth, most ladies are qualified to become Director of an organization, regardless of involvement and capability.
Appointment of Family Member as Director
In many organizations, spouses, girls and sisters of the advertiser are named as Director of the Company. The arrangement of a lady Director who is additionally a relative is adequate. Notwithstanding, a Director of a Company is a specialist of the Company who should act to the greatest advantage of the Company consistently. Further, as Trustees of the Company, all Directors should hold the organization’s properties with most extreme trust and deal with the undertakings of the Company to support the investors.