The second proviso to section 149 (1) of the act makes it mandatory the every listed company shall appoint at least one woman director within one year from the commencement of the second proviso to Section 149(1) of the Act. Every other public company having paid up share capital of Rs. 100 crores or more or turnover of Rs. 300 crore or more as on the last date of latest audited financial statements, shall also appoint at least one woman director within 1 year from the commencement of second proviso to Section 149(1) of the Act.
A Deemed Companys paid up capital as per audited balance sheet as on 31st March,2015 was less than Rs.100 crore and turnover was less than Rs.300 crore.However,paid-up capital of the Company as on 31 st March,2016 was more than Rs.100 crore and the turnover was less than Rs.300 crore.Will that Company be required to appoint any woman director for 2015-16?
CAclubindia
