Divine Industries (Pvt.) Ltd. has a turnover of ₹350 crore during the financial year 2014-15. The bankers of the company have advised the company to compulsorily appoint a woman director in the company as required under

Rule 3 of Companies (Appointment and Qualifications of Directors) Rules, 2014 read with section 149(1) of the Companies Act, 2013, the following companies shall appoint at least one woman director : Every listed company Public Limited Company having: Paid-up share capital of ₹100 crore or more; or Turnover of ₹300 crores or more. Accordingly a private limited company [Divine Industries (Pvt.) Ltd.] is not required to appoint a woman director under Companies Act, 2013. The advice of the bankers is not tenable in the given circumstance. In case the company is a public limited company then as per the aforesaid provisions the Company having its turnover ₹300 Crore or more is required to appoint a woman director. Hence in that case the banker's advice would stand valid.