GAIL (India) Limited — Important, 26-08-2026: Disclosure of material issue

GAIL received notices from NSE & BSE for non-compliance with SEBI LODR regulations concerning its Board and committee composition for Q1 FY27. The core issue was the lack of required Independent Directors, including a Woman Independent Director.

**Impact:** GAIL was fined ₹14.31 Lakh each by NSE and BSE, totaling approximately ₹0.29 Cr. The company states there is no material financial or operational impact from this.

**Company's Response:** GAIL clarified that Director appointments are handled by the Government of India (as a 'Government Company') and are outside GAIL management's control. GAIL has been actively engaging with the Ministry of Petroleum & Natural Gas for these appointments. Following recent Independent Director appointments, key committees (Audit, Nomination & Remuneration, Stakeholder Relationship, Risk Management) were reconstituted effective August 22, 2026, to meet compliance requirements. This suggests the non-compliance issues are now resolved.