Archive · 30 Nov 2025
MTNL Fined for Board Non-Compliance
MTNL is a government-owned phone company.
They got fined by the stock exchanges NSE and BSE because they didn't have enough independent directors on their board.
MTNL says it's not their fault because the government is responsible for appointing these directors.
They have already asked the government to appoint more directors and are trying to get the fines canceled.
The fine is Rs 5.42 lakh, which includes a basic penalty and some extra tax.
MTNL was fined Rs 5.42 lakh by NSE and BSE for not meeting independent director norms.
The fine includes a basic penalty of Rs 4.6 lakh and an 18% GST of Rs 82,800.
MTNL needs to appoint four more independent directors to comply with SEBI's LODR rules.
MTNL blames the Department of Telecommunications (DoT) for the delay in appointments.
MTNL has requested the government to appoint the remaining directors and asked the exchanges to waive the fines.
- Who
- Mahanagar Telephone Nigam Limited (MTNL)
- What
- Fined by NSE and BSE for not meeting independent director norms
- When
- November 28, 2025
- Where
- Mumbai
- Why
- Failure to comply with Regulation 17(1) of SEBI’s Listing Obligations and Disclosure Requirements (LODR) rules
MTNL
NSE and BSE
Board Composition
MTNL
MTNL blames the Department of Telecommunications (DoT) for the delay in appointing the required independent directors, including a woman independent director.
NSE and BSE
NSE and BSE have fined MTNL for not meeting the regulatory requirements for board composition.
- Company
- Mahanagar Telephone Nigam Limited (MTNL)
- Exchanges Involved
- National Stock Exchange (NSE) and BSE
- Non-Compliance Issues
- Failure to meet the required number of independent directors on the board
- Fine Amount
- Rs 5,42,800 (including GST)
- Basic Penalty
- Rs 4,60,000
- GST Amount
- Rs 82,800
- Directors Appointed
- Two independent directors, including one woman, appointed on April 15, 2025
- Company's Response
- MTNL has requested the government to appoint the remaining four independent directors and asked NSE and BSE to waive the fines.
