Mishra Dhatu Nigam Limited — Others, 18-03-2025: Action(s) initiated or orders passed

MIDHANI has informed that both BSE and NSE have imposed a fine of ₹5.81 cr each for non-compliance related to Board composition for the quarter ended December 31, 2024. The company will seek a waiver for this fine, citing that the authority to appoint Directors lies with the President of India through the Ministry of Defence, limiting their compliance capabilities. While MIDHANI remains non-compliant with specific SEBI regulations until the appointment of the required Independent Directors, the fines will not impact the company's financial or operational activities. Investors may view this as a neutral impact, given the company's efforts to address governance issues.