Mishra Dhatu Nigam Limited has informed the Exchange about General Updates
MIDHANI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
BSE and NSE have each imposed a fine of Rs. 4,95,600 (inclusive of GST) on MIDHANI for the quarter ended March 31, 2026, citing non-compliance with Regulation 17(1) of SEBI LODR, which relates to Board composition requirements. The company has not paid the fine and argues that appointment authority for Directors rests with the President of India through the Ministry of Defence, not the Board itself, making compliance impossible. MIDHANI intends to submit a fine waiver request to both exchanges based on NSE's exemption policy for impossibility of compliance. The company states the fine has no impact on its financial, operational, or other activities.
This is a compliance penalty that does not affect financial health but highlights governance issues related to government-controlled board appointments. The fine waiver request outcome could set a precedent for other government enterprises facing similar structural compliance challenges.