A couple of public sector undertakings operating from Tamil Nadu have already written to their respective nodal ministries seeking permission to appoint women directors on their boards.
Madras Fertilizers Limited wrote to its nodal Ministry way back in September 2014 and it is yet to get an approval, even as the April 1 deadline set by the Securities and Exchange Board of India for appointing a woman director on the board every listed firm is fast approaching.
The fertilizer firm has slot for 12 directors, of which four are reserved for independent directors, three foreign directors, one BIFR-nominee, two government nominees, one each for chairman and technical director. The company has been without four independent directors for a long time.
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“Right now, our focus is on getting the company back on track. We have already intimated our Ministry, and it is for them to name a person for the woman director’s post,” said a senior official.
“Appointment of independent directors, including women director, will happen in due course,” said a Neyveli Lignite Corporation official, who did not want to be quoted.
When asked, Registrar of Companies said they will commence the exercise of listing out erring firms after April 1 and action will be initiated as per Clause 49 of the Listing Agreement.
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