Please find enclosed disclosure pertaining to event or information as stipulated in Regulation 30 of SEBI LODR Regulations, 2015
Awaiting price reaction for this filing.
GAIL (India) Limited received notices from NSE and BSE on 29.05.2025 flagging non-compliance with multiple SEBI LODR Regulations (17(1), 17(2A), 18(1), 19(1)/(2), 20(2)/(2A) and 21(2)) for the quarter ended 31.03.2025. The lapses relate to Board composition (including failure to appoint a woman director), quorum at Board meetings, and constitution of the Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee, and Risk Management Committee. Both exchanges imposed a fine of Rs. 16,14,240 each (including GST). GAIL clarified that the non-compliance is not due to any negligence by management — as a Government Company, all Directors (including Independent Directors) are appointed by the Ministry of Petroleum and Natural Gas, which is outside the company's control. The company stated similar notices were received earlier and waivers were granted by the exchanges in the past.
This is a minor procedural penalty of around Rs. 32.3 lakhs in total for board composition gaps that stem from delayed government appointments, not company mismanagement. It is unlikely to have any meaningful impact on the stock price, operations, or financials of GAIL.