GAIL India fined by NSE and BSE for non-compliance

GAIL (India) Limited has disclosed that it has been fined by both the National Stock Exchange of India (NSE) and BSE Limited for non-compliance with several regulations outlined in the SEBI LODR Regulations, 2015. The fines, amounting to ₹8,21,280 each (inclusive of GST), were levied by NSE and BSE respectively on March 17, 2025. The violations pertain to Regulations 17(1), 17(2A), 20, and 21(2), specifically concerning deficiencies in the composition of the Board, including the failure to appoint a woman director, quorum issues at Board meetings, and the constitution of the Stakeholder Relationship Committee and Risk Management Committee. GAIL clarified that these non-compliances were not due to negligence or default, and continuous efforts are being made to meet the requirements. The company acknowledged that board appointments are controlled by the Indian Government, which GAIL routinely follows up with. GAIL states that it does not expect any material impact on its finances or operations due to the fines.