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Background/Objectives: Though, the existence of Corporate Governance issues are always there since the existence of business organization, it has gained a significant attention in last three decades. The prevalence of bankruptcy and financial scams of large companies worldwide like world.Com, Enron, Tyco International, HIH Insurance, Paramalat and Satyam and recent saga of Infosys Limited in our own country becameexamples of laxity of good governance.Methods/Statistical analysis: In the entire corporate governance mechanism, board structure is the most important factor. It is the body, which is responsible to approve strategic decision, which in turn decides the future of the organization. As suggested by the recent studies, one of the significant ways to enhance the quality of corporate governance practices and performance of the company, is to include women directors in the board of directors. Findings: In this study, efforts are made to investigate the significance of Board Gender Diversity and to investigate the relationship between firm performance and board diversity. It is an analytical study, where BSE Sensex data are used. The period is of ten years and total30 company's data are analyzed. Improvements/Applications: Board Gender Diversity used as proxy variables for corporate governance practices and Return on Asset as a measure for performance of selected firms