In terms of Regulation 30 SEBI LODR, BSE and NSE on May 27, 2026 imposed a fine on MIDHANI.
MIDHANI · price
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Stock exchanges BSE and NSE imposed a fine of Rs. 4,95,600 each (including GST) on MIDHANI on May 27, 2026 for the quarter ended March 31, 2026. The penalty is for non-compliance with Regulation 17(1) of SEBI LODR, which relates to board composition requirements. MIDHANI has not paid the fine and disputes it, stating that appointment authority for directors rests with the President of India through the Ministry of Defence, not the company board. The company intends to submit a fine waiver request citing impossibility of compliance. MIDHANI claims the fine has no impact on its financial, operational or other activities.
This is a regulatory penalty for governance non-compliance. While MIDHANI disputes the fine citing government control over director appointments, it reflects ongoing board composition issues. The company plans to seek waiver, but until resolved, this represents a negative regulatory signal affecting investor confidence.