Mstc Limited has informed the Exchange about Fine levied by NSE and BSE for the quarter ended 30th June 2025
MSTCLTD · price
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NSE and BSE have each fined MSTC Limited Rs. 8,90,900 (including GST), totalling about Rs. 17.8 lakh, for the quarter ended 30 June 2025. The fines relate to non-compliance with SEBI Listing Rules on having a Woman Independent Director on the board and on the proper constitution of the Audit, Nomination & Remuneration, Stakeholder Relationship, and Risk Management committees. MSTC has clarified that as a Government of India PSU under the Ministry of Steel, all director appointments are made by the government and were beyond the company's control. The company has since complied by inducting three new independent directors (including a woman director) and reconstituting all statutory committees, and has requested the exchanges to waive the fine.
The fine is small (under Rs. 20 lakh combined) and the company has already remedied the compliance gaps, so there is no material impact on financials or operations. Shareholders should view this as a routine procedural matter tied to government-controlled director appointments rather than a company-specific governance failure.