ABC Company Ltd. (a non-listed company) had a paid up share capital of ₹80 crore as on the last day of its financial year ending on 31st March, 2018. However its financial statements for the financial year 2017-18 are ye

The Companies Act, 2013 in India recognized the importance of gender diversity and provides for mandatory appointment of at least one woman director in the listed and other specified class of companies. Rule 3 of Companies (Appointment and Qualification of Directors) Rules, 2014, prescribes the following class of companies shall appoint at least one woman director- every listed company every other public company having :- (a) paid-up share capital of ₹100 crore rupees or more; or (b) turnover of ₹300 crore rupees or more. It is further clarified that the paid up share capital or turnover, as the case may be, as on the last date of latest audited financial statements shall be taken into account. In view of the above facts since ABC Company Ltd. (a non-listed company) is having a paid up share capital of ₹80 crores only which is less than ₹100 crores as on 31st March 2018 and it's financial statement are yet to be audited, the company does not require to appoint a woman director for financial year 2017-18. It is also assumed that the turnover of the said company is below the threshold limit of ₹300 crores. In case the turnover of the company is ₹300 crores or more as on the last date of latest audited financial statement than the company will be required to appoint at least one woman director.