SEBI has levied fines for listed companies which have not complied with the provisions of Companies Act, 2013 relating to mandatory appointment of women directors on their Boards by 31st March, 2015. The slab wise fines are as under:
1) For compliance between 1st April to 30th June, 2015, fine is Rs.50,000/-
2) For compliance between 1st July 2015 to 30th September 2015 fine is Rs.50,000/- plus Rs.1000/- per day upto the date of appointment;
3) For compliance after 1st October, 2015, Rs.142,000/- plus Rs.5000/- per day upto the date of appointment.
For non-compliances after 30th September, 2015 SEBI is free to initiate any other action against the company, their promoters, directors etc.
SEBI circular is available at http://www.sebi.gov.in/cms/sebi_data/attachdocs/1428497356451.pdf