530 companies fined for not appointing women directors

Mumbai, July 15: The Bombay Stock Exchange (BSE) has imposed fine on 530 companies for not appointing women on their corporate boards. The Security and Exchange Board of India (SEBI) directed all the listed companies to appoint at least one woman director on their corporate boards by April 1. The fines were ranged from Rs 50,000 to Rs 1, 42,000. After October 1, 2015, the companies would pay an additional fine of Rs 5,000 per day until they comply with rules. Of the 5,711 companies listed on the BSE, notices were issued to 530 companies. Officials refused to divulge the details of fined companies.