Tax & Penalty26 Aug 2026, 04:50 pm
MRPL Fined ₹28.39 Lakhs by NSE & BSE for Governance Lapses
AI Summary
Mangalore Refinery and Petrochemicals Ltd (MRPL) has been penalized ₹14,19,540 each by both the BSE and NSE for non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The violations pertain to the composition of the Board and Sub-committees for the quarter ended June 30, 2026. MRPL has represented to the exchanges for a waiver, citing that director nominations are made by the Ministry of Petroleum and Natural Gas, as it is a Central Public Sector Enterprise (CPSE). The total fine, including GST, amounts to ₹28,39,080.
Key Highlights
- MRPL fined ₹14.2 Lakhs by BSE and ₹14.2 Lakhs by NSE.
- Non-compliance related to Board and Sub-committee composition.
- Violations occurred for the quarter ended June 30, 2026.
- Company seeks waiver citing CPSE status and government nominations.
- Total penalty amounts to ₹28.39 Lakhs including GST.
Price Impact
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