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MMTC, a public sector undertaking, was incorporated in 1963, to facilitate foreign trade in India and canalize the export and import of essential minerals and metals. It is under the administrative control of the Ministry of Commerce & Industry, and Government of India and is engaged in trading across minerals, metals, precious metals, agro products, fertilizers & chemicals and coal & hydrocarbons.
MMTC reports non-compliance due to lacking Independent Directors, preventing formation of mandatory Board committees. As a Govt. of India enterprise, director appointments are controlled by the Ministry, placing resolution outside the company's direct control.
Significant increase in volume has been observed in MMTC Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. MMTC Limited has submitted their...