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MTNL hit with ₹13.46 lakh fine by NSE, BSE
MTNL just got hit with a ₹13.46 lakh fine from both NSE and BSE for not meeting SEBI's board composition rules—mainly missing a woman director and some key committees like audit, nomination, remuneration, stakeholder relationship, and risk management.
Both exchanges fined them ₹6.73 lakh each after spotting these gaps.
Waiver request
MTNL explained that, as a government-run company, its board picks are handled by the Department of Telecommunications.
To fix things, they added two independent directors (including one woman) in April and are working with the government to fill more spots.
They've also asked the exchanges to waive the fines while promising to fully comply with SEBI rules going forward.