MTNL Fined for Board Composition Non-Compliance
Mahanagar Telephone Nigam Ltd has been fined by NSE and BSE for failing to comply with SEBI regulations regarding board composition. The infractions include not appointing a woman director and improper committee formations. MTNL cites its public sector status, attributing delays to the Department of Telecommunications.
- Country:
- India
Mahanagar Telephone Nigam Ltd, a state-run telecom company, has faced penalties imposed by the stock exchanges NSE and BSE for failing to adhere to SEBI's board composition norms.
The company disclosed a fine of Rs 6.73 lakh from each exchange, citing non-compliance in appointing a woman director and forming various committees.
MTNL, as a public sector unit, depends on the Department of Telecommunications for board appointments and is pursuing the waiver of these fines, highlighting steps for appointing additional directors.
(With inputs from agencies.)
- READ MORE ON:
- MTNL
- fine
- SEBI
- board composition
- NSE
- BSE
- telecom
- non-compliance
- public sector
- telecommunications
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