Disclosure under Regulation 30 for notice of fine received from NSE and BSE for noncompliance of regulation 17(1) for the quarter ended December 31, 2025.
MRPL · price
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MRPL has received notices from BSE and NSE along with a fine of Rs. 5,42,800 each (including 18% GST) for non-compliance with Regulation 17(1) of SEBI Listing Regulations related to Board composition for the quarter ended December 31, 2025. The total fine amounts to about Rs. 10.86 lakhs. The company has represented to both stock exchanges seeking a waiver of the fine, explaining that as a Central Public Sector Enterprise (CPSE), the appointment of directors on its Board is done by the Ministry of Petroleum and Natural Gas, Government of India, and the non-compliance was beyond the company's control. MRPL is a subsidiary of ONGC.
This is a minor regulatory event with a negligible financial impact (less than Rs. 11 lakhs in fines) on the company. The Board composition issue stems from government-controlled director appointments, and the company has already appealed for a waiver, so this is unlikely to materially affect shareholders or the stock price.