Examine the validity of the following statements: (i) 'Every listed public company must have an independent woman director.' (ii) 'Every listed public company must have a small shareholders' director.'

According to Regulation 17 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of the top 500 listed entities shall have at least one independent woman director by April 1, 2019 and the Board of Directors of the top 1000 listed entities shall have at least one independent woman director by April 1, 2020. The top 500 and 1000 entities shall be determined on the basis of market capitalisation, as at the end of the immediate previous financial year. Thus, every listed public company is not required to appoint independent woman director, but the listed entities falling under the above bracket must have an independent women director. According to Section 151 of the Companies Act, 2013 r/w Rule 7 of the Companies (Appointment and Qualifications of Directors) Rules, 2014, a listed company may have one director elected by small shareholders upon notice by not less than one thousand small shareholders or one-tenth of the total number of such small shareholders, whichever is lower. However, a listed company may opt to have a director representing small shareholders suo-motu. Thus, appointment of small shareholders by listed company is optional.