July 22, 2015

Press Release No. 1

NSE issued notices to 115 active listed companies to include women directors on board

India’s leading bourse National Stock Exchange of India (NSE) has taken up the issue of gender diversity in boards with listed companies. The exchange has conducted a study of listed companies recently. About 88% of the companies seem to have complied with the SEBI directive among the NSE listed companies. Very interestingly studies have shown that companies with multiple woman directors have performed better.

In compliance with the SEBI directive NSE has issued notices to 260 companies (this includes suspended companies) who have not complied so far. With some companies replying, rest are at various stages of evaluation. Out of these companies 145 are in the suspended companies while rest are active. After serving these notices recently, one has already complied while many are expected to follow. The total listed companies (including Debt and MF) are 1750 & out of these companies 189 were suspended due to non compliance of various nature.

The study was undertaken in association with Prof N Balasubramanian, Adjunct Professor, IIM – Ahmedabad. The study has revealed that 1186 companies have women directors on board out of 1451 as on 1 April 2015. Covered companies are those which were mandated to have women directors and for which women directors’ data is available.

In case the companies remain non compliant, as per SEBI circular dated April 08, 2015, the exchanges are advised to levy fines on listed companies for non-compliance with the requirement of Clause 49 II (A) (1) i.e. non appointment of woman director on quarterly basis . As mentioned, NSE has already issued notices to non-compliant companies.

Generally, there is a business case for gender diversity in the boards. It can have few key dimensions, like, increasing board effectiveness, augmenting company performances etc among others. It is revealed that regulatory mandates accompanied by awareness programs help achieving a better ratio. The study has also revealed that Norway has made the best progress. Among the BRICS nations, South Africa leads the group with 17.6%, while Brazil is lagging at 5.3% and India is placed with 9.5% women director.

RSVP:

Corporate Communications

NSE, Mumbai, India

cc@nse.co.in

+91 – 022 – 2659 8164

www.nseindia.com

Press Release No. 2

Listing of Equity shares of Oricon Enterprises Limited

The equity shares of the following company shall be listed and admitted to dealings on the Exchange w.e.f. July 24, 2015. Trading shall be in the Normal Market segment – Compulsory Demat (Rolling Settlement) for all investors.

Sr. No.	Symbol	Name of the Company	ISIN Code
1	ORICONENT	Oricon Enterprises Limited	INE730A01022

Press Release No. 3

Clarification by GKW Limited

Significant price movement has been observed in GKW Limited.

The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

GKW Limited has vide its letter inter alia stated that “ We have already informed that the Memorandum of Understanding(MOU) executed with Western India Forgings Private Limited for sale of land as described in the MOU along with several structures of its Metal Pressing Division at Pune. We will inform the Exchange in respect of any further development which may arise subsequently in respect of sale of the above or any other event which may have a bearing on the behavior of the Company’s scrip”.

Further the company has submitted that “As and when there is any event which requires notification, we will inform you about the same in terms of the Listing Agreement”.

Press Release No. 4

News about Aurobindo Pharma Limited

The media had reports that “Aurobindo Pharma Comes Under US FDA Lens over Quality Management”.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

Aurobindo Pharma Limited vide its letter inter alia stated that “The said facility underwent a routine GMP inspection by USFDA and there are certain observations related to the systems and procedures. The company is appropriately responding and this has no perceived impact on the operations and exports from the said facility”.