Mphasis Board Comments on Exchange Fine for Non-Compliance
Mphasis Ltd's Board of Directors has commented on fines levied by BSE and NSE for alleged non-compliance with SEBI Listing Regulations, specifically Regulation 17(1) for the quarter ended March 31, 2026. The company received notices for periods including January 1-6, 2026, and previously for December 11-31, 2025. Mphasis has applied for a waiver of these fines. The Board stated that governance operations were unaffected as no board meetings were held during the non-compliant periods and reiterated compliance with Regulation 17, emphasizing that the temporary transition in appointing a Chairperson did not necessitate additional Independent Directors. The total fine for Regulation 17(1) for March 2026 is ₹35,400.
Key Highlights
- Mphasis board addresses exchange fines for SEBI Listing Regulations non-compliance.
- Company seeks waiver for fines related to Chairperson appointment periods.
- Board asserts governance operations remained unaffected.
- Total fine for March 2026 quarter under Regulation 17(1) is ₹35,400.
Price Impact
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