COMPLIANCE OF REGULATION 30 OF SEBI (LODR) REGULATIONS, 2015- DISCLOSURE OF EVENTS OR INFORMATION DISCLOSURE OF IMPOSITION OF FINES OR PENALTY
MTNL · price
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MTNL has been fined Rs. 6,73,780 each by NSE and BSE (total ~Rs. 13.48 lakh including GST) for failing to comply with several SEBI (LODR) Regulations. The non-compliance relates to Board composition (including absence of a woman director) and the constitution of the Audit, Nomination & Remuneration, Stakeholder Relationship, and Risk Management Committees. MTNL explained that as a Government of India PSU, all director appointments are made by the Department of Telecommunications (DoT), and that two independent directors including a woman director were appointed in April 2025. The company has requested the exchanges to waive the fines and is pursuing further appointments with the Government.
The financial impact is minimal (around Rs. 13.5 lakh in total) and the company says it does not materially affect operations. However, the fine highlights ongoing corporate governance lapses at this PSU, which could dent investor confidence if not resolved quickly.