By fe Bureau, 09/03/2011
Female independent director to be a must

The ministry of corporate affairs (MCA) on Tuesday said that it would make mandatory for companies having five or more independent directors to have at least one female independent director.

Companies having five or more independent directors would have to necessarily have at least one female independent director, corporate affairs minister Murli Deora said on Tuesday. The proposal is going to be a part of the Companies Bill that is going to be tabled in Parliament in the ongoing Budget session.

The move coincides with the International Women's Day. Though Deora could not be reached for comments, ministry sources said that it was an attempt on the part of the government to address the acute gender bias in corporate board rooms. The ministry is likely to come out with clearer guidelines on the issue in the weeks ahead.

According to a survey conducted by industry body Associated Chambers of Commerce and Industry of India (Assocham), out of 1,112 directorships of 100 companies listed on the Bombay Stock Exchange, only 59 positions, or 5.3%, are held by women. This is woefully low compared to other countries in the west. For instance in Canada its at 15%, in the US the share is 14.5% and its 12.2% in the UK.

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Another gender biased policy which endorses discrimination against men and forced favoritism for women for boardroom jobs.

Such female favoritism is feminist gender-communism inspired policies violate basic human rights of equal treatment of all people.

People should prove their worth and earn their position in society, instead of it being given to them due to their gender.