RJS Ltd. is in the list of top 500 listed entities. P is a non-executive chairman of the company. Q, R & T are the promoters of the company. P is related to the one of the promoter T. A is the only woman director (ex

CS Executive · Securities Laws and Capital Markets · PYQS · June 2023
RJS Ltd. is in the list of top 500 listed entities. P is a non-executive chairman of the company. Q, R & T are the promoters of the company. P is related to the one of the promoter T. A is the only woman director (executive director) in the Board. Further, the company is planning to appoint C (aged 70 years) as a non-executive director. Answer the following with reference to the SEBI (LODR) Regulations, 2015: Whether the company still requires to appoint another woman director ?

Answer & Explanation:

Requirement: Yes, the company still requires to appoint another woman director. Reason: As per Regulation 17 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of the top 500 listed entities (based on market capitalization) shall have at least one independent woman director by April 1, 2019. In the given situation, RJS Ltd. is a top 500 listed entity and has an executive woman director (A). However, the existing woman director (A) is an executive director, and it is not specified that she is independent. Therefore, RJS Ltd. will be required to appoint one independent woman director to comply with the regulations.

Topics: SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR)

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