Tax & Penalty27 Aug 2026, 05:20 pm
MSTC Ltd Fined ₹5.36 Lakhs Each by BSE & NSE for Board Composition
AI Summary
MSTC Ltd has been fined ₹5,36,900 (including GST) by both BSE and NSE for non-compliance with Regulation 17(1) of SEBI (LODR) Regulations, 2015, concerning board composition for the quarter ended June 30, 2026. The company clarified that director appointments are solely controlled by the Government of India through the Ministry of Steel. Following the nomination of two Independent Directors by the Ministry of Steel on July 14, 2026, and their subsequent appointment by the Board on July 18, 2026, MSTC Ltd has achieved full compliance. The company has requested a waiver of the levied fines, stating the non-compliance was beyond its control and did not impact its operations or financials.
Key Highlights
- MSTC Ltd fined ₹5.36 Lakhs each by BSE and NSE for board composition non-compliance.
- Company attributes non-compliance to delayed director appointments by the Government.
- Full compliance achieved with new independent directors appointed on July 18, 2026.
- Fines have no impact on company's financial or operational activities.
- MSTC requests waiver of the levied fines from the stock exchanges.
Price Impact
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