Regulatory28 May 2026, 06:10 pm
MIDHANI fined
AI Summary
MIDHANI was fined ₹4,95,600 each by BSE and NSE on May 27, 2026, for non-compliance with Regulation 17(1) of SEBI LODR regarding Board composition for the quarter ended March 31, 2026. The company has not paid the fine, stating that the authority for appointing directors rests with the President of India through the Ministry of Defence, not MIDHANI's Board. MIDHANI plans to request a fine waiver from the stock exchanges, citing the impossibility of compliance. The company asserts that this fine will not impact its financial, operational, or other activities.
Key Highlights
- MIDHANI fined ₹4.95L each by BSE and NSE for Q4 FY26 non-compliance.
- Fine relates to non-adherence to Regulation 17(1) on Board composition.
- Company has not paid, citing Presidential authority for director appointments.
- MIDHANI will seek fine waiver, citing impossibility of compliance.
- Company asserts no financial or operational impact from the fine.
Price Impact
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