Summary of Key Information:

Target Company: GAIL (India) Limited

Stock Exchange Listings:

NSE Scrip Code: GAIL-EQ

BSE Scrip Code: 532155

Nature of Transaction / Event: Regulatory non-compliance disclosure under SEBI LODR Regulations, 2015

Date of Transaction: Not applicable - communication received on 25.08.2026

Details of Regulatory Communication:

  • Type of communication: Notice for non-compliance with SEBI (LODR) Regulations, 2015
  • Authorities: National Stock Exchange of India Limited (NSE) and BSE Limited
  • Receipt time: 25.08.2026 at 09:54 P.M. (IST) from NSE and 07:02 P.M. (IST) from BSE
  • Applicable period: 01.04.2026 to 30.06.2026 (Q1 FY27)
  • Specific regulations violated: Regulation 17(1), 17(2A), 18(1), 19(1)/19(2), 20(2)/(2A), 21(2) of SEBI LODR Regulations, 2015

Financial Implications:

  • Fine imposed: ₹14,31,340/- each including GST by both NSE and BSE
  • Material impact: None - no material impact on financials, operations or other activities of the Company

Reason for Non-Compliance:

The non-compliance pertains to appointment of Woman Independent Director, quorum of Board meetings, and constitution of key committees (Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee, and Risk Management Committee) for the quarter ended 30.06.2026.

Company Response and Actions Taken:

  • GAIL is a 'Government Company' under administrative control of Ministry of Petroleum and Natural Gas (MoP&NG)
  • All Directors on the Board (including Independent Directors) are nominated/appointed by Government of India, outside the purview/control of GAIL's management
  • Company regularly takes up the matter with Ministry of Petroleum and Natural Gas for appointment of requisite number of Independent Directors
  • Pursuant to appointment of two Independent Directors, all committees have been re-constituted effective from 22.08.2026 as per SEBI LODR requirements
  • Company notes that similar letters were received in the past and waiver requests were considered favourably by Exchanges

Additional Information:

The company emphasizes that the non-compliance was neither due to any negligence/default by the Company nor within the control of GAIL's management.