It has been little over a year since the Securities And Exchange Board of India (SEBI), the country’s market regulator, made it mandatory for listed companies (pdf) to have at least one woman director on their boards.
Indian companies have till April 1, 2015—or two more weeks—to comply with the new rules. The earlier deadline was Oct. 1, 2014. Despite the six-month extension given by the SEBI, most companies have failed to appoint a woman director.
Of the 1,479 companies listed on India’s National Stock Exchange (NSE), 451—or one-third—still haven’t complied, data from PRIME database, a capital markets information provider, shows. The data is accurate as of March 15.
This means that women directors need to be appointed at the rate of 30 per day for the next 15 days for these NSE-listed firms to be compliant, according to Pranav Haldea, managing director of PRIME database.
At the 200 leading companies listed on the Bombay Stock Exchange (BSE),