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“The state-run telecommunications firm Mahanagar Phone Nigam Restricted (MTNL) has been punished by the Nationwide Inventory Alternate (NSE) and Bombay Inventory Alternate (BSE) for violations of compliance with the composition of the board in accordance with the requirements of the Securities and Alternate Fee of India (SEBI),” it states in its regulatory declaration.
The corporate filed on Saturday (August 30, 2025) and mentioned that each exchanges every fined the corporate £673 million for non-compliance.
“MTNL has obtained letters from the NSE…in regard to violations of provisions of provisions of the provisions of the SEBI (LODR) laws of 2015, respectively… from the BSE…in no breach of necessities relating to the composition of the board, together with the failure to nominate a feminine supervisor, and the shortcoming to adjust to the Audit Committee’s structure.”
Fines additionally embody violations of the Nomination and Remuneration Committee’s Structure, the Stakeholder Relations Committee’s Structure, and the Danger Administration Committee’s Structure.
MTNL mentioned it’s a public sector enterprise and that each one board appointments, together with unbiased administrators, are being made by the Ministry of Administration, that’s, the Telecommunications Division.
The corporate mentioned two unbiased administrators, together with one feminine director, have been appointed to the DOT, efficient from April fifteenth, and points relating to the appointment of 4 extra unbiased administrators have already been addressed to the Centre. “The corporate can also be requesting NSE and BSE exemptions from fines,” the submitting mentioned.
