Mstc Limited — Important, 13-08-2025: Updates

MSTC faced fines from stock exchanges for non-compliance regarding its board composition, including the absence of a woman independent director and issues with committee constitution and board meeting quorum. The Board discussed this, noting that three independent directors have since been appointed, largely restoring compliance, though one vacancy persists. The Board highlighted that director appointments are controlled by the Ministry of Steel, not the company. MSTC is following up with the Ministry for full appointments and has requested the fine be waived, citing lack of control over the appointments.