MTNL requests waiver of fine, fails to appoint a woman director
Both NSE and BSE have imposed fines on MTNL amounting to Rs. 6,73,780/- (inclusive of Basic fines amounting to Rs. 5,71,000/- and GST amounting to Rs. 1,02,780/-) respectively.
MTNL requests waiver of fine, fails to appoint a woman director
New Delhi, August 30, 2025: The Government-owned Telecommunication company Mahanagar Telephone Nigam Limited (MTNL) received a letter of fine from BSE regarding Non-Compliance, respectively, i.e. Non-compliance with the requirements about the Composition of the Board, including
Failure to appoint a woman director, Non-compliance with the Constitution of Audit Committee, Non-compliance with the Constitution of Nomination and Remuneration Committee, Non-compliance with the Constitution of Stakeholder Relationship Committee and Non-compliance with the Constitution of Risk Management Committee.
Both NSE and BSE have imposed fines on MTNL amounting to Rs. 6,73,780/- (inclusive of Basic fines amounting to Rs. 5,71,000/- and GST amounting to Rs. 1,02,780/-) respectively.
The company, in its exchange filing, stated that it is to be informed that MTNL is a Public Sector Undertaking. All appointments, including Independent Directors on the Board, are made by the Administrative Ministry, i.e. Department of Telecommunications (DoT), Ministry of Communications, Government of India.
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Two Independent directors, including one woman independent director, were appointed by DoT vide Letter No. E5-3/2018-PSA dated 15.04.2025 w.e.f. 15.04.2025. The matter for the appointment of four more Independent Directors has already been taken up with the Government of India. The Company is also requesting to NSE and BSE for waiver of fines.
Further, there is no material impact on the Financial, operation or other activities of MTNL, the company said.
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