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15 Public Sector Firms in India violate Sebi’s Norms of appointing atleast One Woman Director on their Respective Boards

These rules are aimed at ensuring gender diversity in boardrooms

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Fifteen PSUs including ONGC and Indian Oil Corporation failed to comply by Sebi's gender diversity directives, Wikimedia
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New Delhi, Dec 16, 2016:  Sebi’s regulatory norms of appointing at least one woman director on the respective billboards till December 13, has not been followed by as many as 15 public sector firms including ONGC and Indian Oil Corporation. Reports of it went to the Parliament on Friday.

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As per the new Sebi directives and the Company’s Act, 2013 all the listed firms were required to have at least one woman director on their boards from April 1, 2015. These rules are aimed at ensuring gender diversity in boardrooms.

As on December 13, 2016, Bharat Petroleum Corporation, GAIL, Power Finance Corporation, Rural Electrification Corporation, Chennai Petroleum Corporation, Scooters India, MMTC and Fertilisers & Chemicals Travancore have not appointed women directors on their board, Corporate Affairs Minister Arun Jaitley said in a written reply to Lok Sabha, mentioned PTI.

It was mandatory for PSUs to appoint one women director to their boards
Arun Jaitley Wikimedia

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Other non-complaint firms are State Trading Corporation of India, Hindustan Photo Films Manufacturing Company, Bharat Immunologicals & Biologicals Corp, Rashtriya Chemicals and Fertilisers and Neyveli Lignite Corporation, he added.

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According to the Minister 169 and 1,106 companies listed on the NSE and BSE respectively had not appointed women directors as on September 30, this year. To avert this discrimination by acting against listed firms without a mandatory woman director, Sebi in April 2015 had announced a minimum Rs 50,000 fine. Further action against non-compliance of the directives include action against promoters and directors, if they remain non-compliant beyond six months.

A four stage penalty structure is announced by the market watchdog wherein fines would increase with the passage of time. It had asked the stock exchanges to levy the fines as the violation relates the Listing Agreement.

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Family Size Can Be Determined By Reproductive Rights: Study

To make freedom of choice a reality, the report urges countries to offer universal access to quality reproductive health care

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A community health worker holds up contraceptives during a lecture on family planning at a reproductive health clinic run by an NGO in Tondo city, metro Manila. VOA

Family size is closely linked to reproductive rights, according to the State of World Population 2018 report.

The U.N. report says people in developed countries tend to have lower fertility rates because of greater access to family planning services, modern contraceptives and age-appropriate sex education.

The director of the U.N. Population Fund office in Geneva, Monica Ferro, says in places where reproductive rights are constrained, either due to lack of resources or government mandates, people have a limited ability to choose the size of their families.

reproductive rights
Google suspends Ireland’s Abortion Referendum Ads, VOA

“Many sub-Saharan African countries, for example, have fertility rates of four or more births per woman,” Ferro said. “At the other end of the spectrum, you have some eastern Asian and European countries with fewer than two births per women. In both cases, individuals face obstacles to the full realization of their reproductive rights.”

The world population is expected to increase by 2.5 billion by 2050, to nearly 10 billion people, with sub-Saharan Africa expected to contribute more than half of that growth.

Women in Africa must overcome many legal and social barriers to achieve control of their fertility, Ferro said.

reproductive rights
Women in Africa must overcome many legal and social barriers to achieve control of their fertility.

“Women may not have the access to medical services,” she told VOA. “They may not have the access to child care. They may not have access to all the institutional and social support that comes with being ready or being able to plan your fertility.”

Also Read: Brisbane, Australia Protests Against Plans To Decriminalise Abortion

To make freedom of choice a reality, the report urges countries to offer universal access to quality reproductive health care, including modern contraceptives and better education.

It also advocates for a change in men’s attitudes toward a woman’s right to choose the number, timing and spacing of children. (VOA)