MOIL Limited — Important, 18-03-2025: General Updates

National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have imposed a fine of ₹5.42 lakh (incl. GST) on MOIL Limited for non-compliance regarding the composition of its Board of Directors for the quarter ended December 2024. MOIL clarified that the company is a Government entity, and all Director appointments are made by the Government of India, which has caused the regulatory compliance issue without any negligence on MOIL’s part. The company has requested the Government to expedite the appointment of Independent Directors to rectify the non-compliance. The imposed fine is stated to have no impact on the company’s financial or operational activities, and MOIL is seeking a waiver of the penalty from the stock exchanges.