Abstract: Gender diversity on Board of Directors is need of the hour. Women on Board play a vital role in Corporate Governance. A company to be governed in best interest of its stakeholders needs more representative Board. With the implementation of Companies Act 2013 and amendments to listing agreement of SEBI, it will become mandatory from October 1, 2014 for all the listed companies, to have at least one woman Director on Board. In the light of these developments the paper studies current scenario - the number of women Directors on Board of Top 20 Indian Companies (Forbes 2000) as in July 2014 and compares it with scenario last year. We have found that 40% of top 20 companies do not have even 1 woman Director on Board which is more or less similar to last year, maximum number of Women Directors is Independent and most of the Women Directors are members of Board committee formed as per Corporate Governance norms. We have tabulated our findings and tried to explain current scenario.