NSE, BSE impose effective on MTNL over non-compliance with SEBI guidelines

“State-run telecom agency Mahanagar Telephone Nigam Limited (MTNL) has been penalised by the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) for non-compliance with respect to composition of the board as per Securities and Exchange Board of India (SEBI) norms,” the corporate mentioned in a regulatory submitting.

The firm, in its submitting on Saturday (August 30, 2025), had mentioned that each the exchanges had imposed a effective of ₹6.73 lakh every on the corporate for non-compliance.

“MTNL has received Letter …from NSE and…BSE regarding Non-Compliance with the provisions of Regulation…of SEBI (LODR) Regulations, 2015, respectively… Non-compliance with the requirements pertaining to the composition of the board, including failure to appoint a woman director, non-compliance with the constitution of the audit committee,” the submitting mentioned.

The penalty additionally contains non-compliance with the structure of nomination and remuneration committee, structure of stakeholder relationship committee and structure of Risk administration committee.

MTNL mentioned it’s a public sector enterprise and all board appointments, together with unbiased administrators, are made by the executive Ministry — the Department of Telecommunications.

The firm mentioned the 2 Independent administrators, together with one girl director, had been appointed by DoT with impact from April 15, and the matter for the appointment of 4 extra unbiased administrators has already been taken up with the centre. “The company is also requesting to NSE and BSE for waiver of fines,” the submitting mentioned.