Oil India fined by NSE and BSE for LODR violations
Oil India Limited (BSE: 533106) has been penalized by both the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE) with fines of ₹10,54,920 each. The fines stem from violations of Regulations 17(1), 17(2A), 18(1), 19(1)/(2), 20(2)/(2A) & 21(2) of the SEBI (LODR) Regulations, 2015, pertaining to non-appointment of requisite number of Independent Directors (including one Woman Independent Director), Quorum of Board Meeting and Composition of Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee & Risk Management Committee, for the Quarter ended December, 2024. Oil India acknowledged the fines in a disclosure dated March 18, 2025, stating that the non-compliance is due to the government's role in appointing directors. The company is actively requesting the Ministry of Petroleum & Natural Gas for the necessary appointments and anticipates no material financial or operational impact from the penalties.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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