Woman Director :
How is it possible to understand the applicability (i.e complying Rule 3 in case of an unlisted company) within 6 months from incorporation when the compliance is to be seen as per latest audited financial statement?
Thank you.
Woman director on the Board.- The following class of companies shall appoint at least one woman director- (i) every listed company; (ii) every other public company having - (a) paid–up share capital of one hundred crore rupees or more; or (b) turnover of three hundred crore rupees or more: Provided that a company, which has been incorporated under the Act and is covered under provisions of second proviso to sub-section (1) of section 149 shall comply with such provisions within a period of six months from the date of its incorporation.
Now understand No company can incorporate with Turnover of Rs 300 cr or more this applies only when company incorporated with PC of 100cr or more then co has to appoint Women Director within 6 months of incorporation.
and Next if company fulfill any condition in Subsequent years given under rule then has to comply with the Appointment of Women Director within 6 months and for this explanation given under rule will effective.
explanation For the purposes of this rule, it is hereby clarified that the paid up share capital or turnover, as the case may be, as on the last date of latest audited financial statements shall be taken into account.
hope this will help you.
if still have any query you can msg me on rajevkarora @ gmail.com
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