Date: 12 August 2026
Regulatory Compliance Update
Mazagon Dock Shipbuilders Ltd has received a SEBI non-compliance notice referenced in email dated 27 May 2026 with ref: SOP-Review letter regarding insufficient number of Independent Directors on its board.
The matter was placed before the Company's Board at its meeting held on 30 July 2026 for review. The Board directed the Company to continue follow-up with the administrative ministry, Ministry of Defence, for appointment of sufficient number of Independent Directors.
The Company has previously communicated with Ministry of Defence on this matter, with last communication sent via letter dated 04 April 2026.
The Board observed that as a Government company, the power to appoint directors including Independent Directors on the Board of the Company vests with the President of India.