Key Quantitative Figures

  • Total fine imposed: ₹12,66,140 (inclusive of GST)
  • Basic fine amount: ₹10,73,000
  • GST @18%: ₹1,93,140
  • Fine breakdown by regulation:
  • Regulation 17(1): ₹4,55,000 for 91 days non-compliance at ₹5,000 per day
  • Regulation 18(1): ₹1,52,000 for 76 days non-compliance at ₹2,000 per day
  • Regulation 19(1)/19(2): ₹1,52,000 for 76 days non-compliance at ₹2,000 per day
  • Regulation 20(2)/(2A): ₹1,52,000 for 76 days non-compliance at ₹2,000 per day
  • Regulation 21(2): ₹1,52,000 for 76 days non-compliance at ₹2,000 per day
  • Regulation 17(2A): ₹10,000 for 1 instance at ₹10,000 per instance

Dates of Action

  • NSE letter reference: NSE/LIST-SOP/COMB/FINES/0954 dated August 25, 2026
  • MTNL received the notice on August 27, 2026
  • Non-compliance period: Quarter ending June 30, 2026
  • Payment due: Within 15 days from notice date

Parties Involved

  • Regulator: National Stock Exchange of India Limited (NSE)
  • Administrative Ministry: Department of Telecommunications (DoT), Ministry of Communications, Government of India
  • NSE Contact: Sonam Yadav, Manager

Purpose and Rationale

The disclosure is made in compliance with Regulation 30 & 51 of SEBI (LODR) Regulations, 2015 and Sub-Para 20 of Para A of Part A of Schedule III. MTNL attributes the non-compliance to its status as a Public Sector Undertaking where all director appointments are made by the Department of Telecommunications.

Financial Impact

Direct financial impact of ₹12,66,140 payable to NSE. The fine amount may continue increasing if non-compliance persists beyond the notice date.

Company Response and Mitigation

MTNL has already taken up the matter of appointing six independent directors with the Government of India. The company is requesting NSE for waiver of fines citing its PSU status and dependency on government appointments.

Additional Requirements

  • MTNL must place this matter before the Board in the next Board Meeting
  • Board comments must be informed to NSE through NEAPS portal
  • Waiver application requires compliance achievement first and non-refundable processing fee of ₹10,000 + 18% GST if fine exceeds ₹5,000

Payment Instructions

Payment to be made via RTGS/NEFT/Net Banking to National Stock Exchange of India Limited at IDBI Bank Ltd, Bandra Kurla Complex, Mumbai (RTGS/IFSC: IBKL0001000) using the Unique Account Code for Annual Listing fees.