Mphasis Ltd Responds to Fine Levied by Stock Exchanges Over Governance Operations

Mphasis Ltd, a prominent player in the IT sector, has responded to a fine levied by the stock exchanges for alleged non-compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The issue pertains to the selection and appointment of a Chairperson and the convening of a Board meeting during a specific period. The company has clarified its stance, stating that the governance operations remained unaffected and that it maintains continuous compliance with Regulation 17 of the SEBI Listing Regulations. A waiver application has been submitted to the stock exchanges.