WOMAN DIRECTOR 

[2nd Proviso to Section 149(1) of Companies Act, 2013 read with Rule 3 of The Companies (Appointment and Qualifications of Directors) Rules, 2014]

Applicability:
At least ONE-WOMAN DIRECTOR in following companies:     
                • Listed Company
                • Public Company – Paid up Share Capital Rs. 100 CRS OR MORE
                                                   OR
                Turnover Rs. 300 CRS OR MORE

Paid up share capital or turnover, as the case may be, shall be taken as per the latest audited financial statements.

Period of Compliance:

Companies Existing Prior to Commencement of the Act	One Year from the date of Commencement of the Companies Act, 2013
Companies Incorporated After the Commencement of the Act	Six Months from the date of its incorporation

Intermittent Vacancy:
To be filled in before:

Immediate next Board Meeting OR 3 Months from the date of such vacancy

Whichever is later

Penalty for Non-Compliance
No specific penalty or punishment.

Therefore, Section 172 shall apply which provides general penalty for violation of any of the provisions covered under Chapter XI- Appointment and Qualifications of Directors.

Accordingly, the persons liable are:

The Company	Rs. 50K + Rs. 500 per day in case of continuing failure Max Rs. 3 Lacs
Every Officer of the Company	Rs. 50K + Rs. 500 per day in case of continuing failure Max Rs. 1 Lac