Mishra Dhatu Nigam Limited — Others, 22-11-2024: Action(s) initiated or orders passed

MIDHANI has received notices from both BSE and NSE, imposing a fine of ₹5.43 crore for non-compliance with the requirement that at least half of its Board must consist of Independent Directors. Currently, MIDHANI has not paid the fine due to the appointment of Directors being under the purview of the President of India. The company plans to seek a waiver, citing difficulties in meeting compliance until new Independent Directors are appointed. The imposed fine is not expected to affect MIDHANI’s financial health or operations. This situation may evoke a neutral response from investors, given its non-impact on the company’s core activities.