Oil India Fined ₹5.42 Lakh by BSE Over Board Composition Non-Compliance
New Delhi, February 27, 2026: Oil India Limited (NSE: OIL | BSE: 533106) has informed stock exchanges that BSE Limited has levied a fine of ₹5,42,800 for non-compliance with board composition requirements for the quarter ended December 2025.
The penalty was communicated to the company via an email dated February 27, 2026.
Reason for the Fine
According to the disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the fine pertains to non-compliance with Regulation 17(1) of the SEBI (LODR) Regulations.
The violation relates to the non-appointment of the requisite number of Independent Directors on the company’s Board for the quarter ended December 2025.
Company’s Clarification
Oil India Limited clarified that, as a Government of India enterprise, appointments of Directors to its Board are made by the Ministry of Petroleum & Natural Gas, its administrative ministry.
The company stated that the non-compliance regarding Board composition was beyond its control, and it has been consistently requesting the Ministry for the appointment of the required number of Independent Directors to meet regulatory requirements.
Impact on Operations
The company has confirmed that there is no material impact on its financials, operations, or other business activities as a result of the penalty.