Representation of Women on the Board of Directors under the Companies Act, 2013
DOI:
https://doi.org/10.12728/culj.6.2Abstract
In this article, the researcher examines the significant provisions that are incorporated into the Companies Act of 2013 to deal with the conventional underrepresentation of women in the corporate arena. The researcher conducts an in depth study of the proviso to section 149(1) of Companies Act of 2013 which mandates the inclusion of atleast one woman director on the Board of Directors and its relevance in ensuring fair standards of corporate governance in every prescribed class of companies. This paper also demonstrates the need for this provision by analysing the position enjoyed by women under the erstwhile legislation i.e. Companies Act, 1956 and by examining the similar legislations enforced in other jurisdictions. Conclusions have been derived from statistical studies in this regard. The reader is also appraised of the effects of non compliance to this provision and the possibilities of its abuse before concluding that the aforementioned law is a prudent parliamentary intervention to enhance the contribution of women towards the development of the country.References
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