Assertion (A) Rules notified by the Ministry of Corporate Affairs (MCA) Section 149 of the Companies Act mandates that a listed company having a paid up share capital of Rs. 100 crore or more shall appoint at least one woman director on its board.
Reason (R) The corporate entities wanted to enhance gender equality and woman empowerment in corporate governance and company administration.

A. Both (A) and (R) are correct

B. (A) is correct and (R) is the right explanation of (A)

C. (A) is correct, but (R) is not the right explanation of (A)

D. Both (A) and (R) are incorrect

Answer: Option C