Sebi to take ac­tion against cos with no woman direc­tor; writes to over 160 such com­pa­nies to en­sure com­pli­ance

Consumer Voice - - In The News -

Mar­ket reg­u­la­tor Sebi will take ‘nec­es­sary’ ac­tion against listed firms that fail to ap­point at least one woman direc­tor on their boards by the end of this month. The cap­i­tal-mar­kets watch­dog had is­sued guide­lines in Fe­bru­ary last year ask­ing com­pa­nies to ap­point at least one woman direc­tor on their board by 1 Oc­to­ber 2014, which was later re­laxed to 1 April 2015.

“Sebi will take nec­es­sary ac­tion when the com­pli­ance po­si­tion by com­pa­nies is known af­ter 31 March 2015,” Min­is­ter of State for Fi­nance Jayant Sinha has said.

Ac­cord­ing to an es­ti­mate, nearly one-third of the top-500 listed com­pa­nies do not have any fe­male rep­re­sen­ta­tion on their re­spec­tive boards. Sebi has writ­ten to more than 160 such com­pa­nies to en­sure com­pli­ance.

Af­ter Sebi's di­rec­tion in Fe­bru­ary last year, many com­pa­nies had stepped up ef­forts to have women di­rec­tors on their boards and nearly 500 fe­male mem­bers were nom­i­nated to the boards till De­cem­ber 2014, although many of them hap­pen to be fam­ily mem­bers of the pro­mot­ers.

The norms were fi­nal­ized by the reg­u­la­tor af­ter de­tailed dis­cus­sions were held be­tween Sebi and con­cerned stake­hold­ers for over a year and in­volve stronger reg­u­la­tions for listed com­pa­nies than those pre­scribed un­der the Com­pa­nies Act for non-listed en­ti­ties. Th­ese in­clude clar­i­fi­ca­tions on rules re­lat­ing to the ap­point­ment and qual­i­fi­ca­tion of di­rec­tors as well as in­de­pen­dent di­rec­tors, mat­ters re­lat­ing to re­lated party trans­ac­tions, and rules gov­ern­ing meet­ings of the board and its pow­ers.

Nis­san Mo­tor work­ing on Dat­sun GO’s body shell af­ter fail­ing Global NCAP’s crash test

Ja­panese car maker Nis­san has de­cided to in­cor­po­rate safety fea­tures like ABS and airbags in its Dat­sun Go hatch­back in In­dia af­ter the model failed the crash test, as per an Eco­nomic Times re­port cit­ing sources familiar with the is­sue. The com­pany is now said to be us­ing high-ten­sile steel that can with­stand higher pres­sure

The Dat­sun GO re­ceived zero rat­ing in Global NCAP’s crash test. The UK-based watch­dog, which said the ve­hi­cle’s struc­ture col­lapsed dur­ing the test, had writ­ten to Nis­san, ask­ing it to with­draw the model be­cause of the ‘grave risk’ to pas­sen­gers in the event of a crash. Some other small-car mod­els from In­dia had also failed in the test.

Nis­san has man­aged to sell merely 14,000–15,000 Dat­sun cars in the past year, when it was ex­pected to chal­lenge Maruti Suzuki’s Alto and Wagon R, and Hyundai Mo­tor’s Eon.

Just about 20 per cent In­di­ans have ac­cess to In­ter­net: Study

As per a new study con­ducted by The Pew Re­search Cen­ter across 32 emerg­ing and de­vel­op­ing na­tions, only 20 per cent in In­dia have ac­cess to the In­ter­net at least oc­ca­sion­ally while a mere 14 per cent own a smart­phone. The study also found that 65 per cent of In­ter­net users in In­dia said they use so­cial net­work­ing sites such as Face­book or Twit­ter, while 55 per cent have used the In­ter­net to look for or ap­ply for a job.

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