Oil India Fined ₹5.49 Lakh Each by BSE & NSE
Oil India Ltd has been fined ₹5,49,880 each by the National Stock Exchange of India (NSE) and BSE Limited for the quarter ended March 2026. The fines were imposed due to non-compliance with SEBI (LODR) Regulations, 2015, specifically regarding the non-appointment of the required number of Independent Directors (including one Woman Independent Director) and the composition of the Audit Committee and Nomination & Remuneration Committee. Oil India clarified that as a government company, the appointment of directors is managed by the President of India through the Ministry of Petroleum & Natural Gas, and the company has been requesting these appointments to comply with regulations. The company stated that the non-compliance is beyond their control and there is no material impact on financials or operations.
Key Highlights
- Oil India fined ₹5,49,880 each by NSE and BSE for regulatory non-compliance.
- Violation relates to non-appointment of required Independent Directors.
- Company cites government appointment process as a reason for non-compliance.
- Oil India states no material impact on financials or operations.