BSE and NSE issued fine notices dated February 27, 2026 to Mphasis for 21-day non-compliance with Regulation 17(1) for Q3 FY2026 (quarter ended December 31, 2025).
Total fine payable is ₹1,23,900 inclusive of 18% GST (basic fine ₹1,05,000 at ₹5,000/day for 21 days) for board composition non-compliance.
Mphasis Board deliberated on March 27, 2026, citing no board meetings during the transition period and confirmed Non-Executive Chairperson was appointed on January 7, 2026.
Company filed a waiver application with both exchanges on March 13, 2026; outcome is awaited as of the date of this disclosure.