Key Quantitative Figures
- Fine amount: ₹4,95,600 each from BSE Limited and National Stock Exchange of India Limited
- Fine includes GST component
- Period: Quarter ended March 31, 2026
Dates of Action
- Fine imposition date: May 27, 2026
- Disclosure date: May 28, 2026
Parties Involved
- Mishra Dhatu Nigam Limited (MIDHANI)
- BSE Limited
- National Stock Exchange of India Limited
- Ministry of Defence, Government of India
Reason for Non-Compliance
Non-compliance with Regulation 17(1) of SEBI LODR pertaining to board composition. The authority for appointment of Directors on MIDHANI's Board vests with the President of India acting through Ministry of Defence, and the Board of MIDHANI has no role in appointment of Directors.
Company Action
MIDHANI will submit fine waiver requests to both NSE and BSE based on:
1. NSE circular dated March 31, 2022
2. Grounds of impossibility of compliance as per policy for exemption of fines
Financial Impact
As explicitly disclosed: "The fine levied by NSE & BSE has no impact on the financial, operation or other activities of the Company."
Current Status
As of May 28, 2026, MIDHANI has not paid any fine to the stock exchanges.
Additional Information
- Trading Symbol: MIDHANI
- Disclosure signed by: Paul Antony, Company Secretary & Compliance Officer
- Company CIN: L14292TG1973G01001660