Disclosure of event or information under Regulation 30 of SEBI (LODR) Regulations, 2015

Nature of the Disclosure

This is a regulatory disclosure submitted to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI (LODR) Regulations, 2015, regarding fines levied by both stock exchanges for non-compliance with corporate governance norms.

Key Quantitative Figures

  • Fine amount: ₹14,31,340/- (including GST) levied by each exchange
  • Total fine amount: ₹28,62,680/- (combined from both exchanges)
  • Non-compliance period: Quarter ended 30.06.2026
  • Partial compliance achieved: Effective from 19.08.2026

Dates of Action

  • Date of notice receipt: 25.08.2026
  • Date of disclosure: 26.08.2026
  • Effective compliance date for certain committees: 19.08.2026

Parties Involved

  • Regulatory authorities: BSE Limited and National Stock Exchange of India Limited
  • Appointing authority: Government of India (Ministry of Petroleum and Natural Gas)
  • Company representative: Shashi Bhushan Singh, Company Secretary & Compliance Officer

Stated Rationale and Company Position

ONGC attributes the non-compliance to its status as a Government Company where the power of appointment of Directors (including Independent Directors) is vested with the Government of India as per the company's Articles of Association. The company states that:

  • It has been regularly submitting requirements for appointment of Independent Directors to the Government of India
  • Copies of these correspondence were submitted to the stock exchanges
  • The non-compliance was not within the control of the company
  • The company has been pursuing with the Government for appointment of requisite Independent Directors

Current Compliance Status

With effect from 19.08.2026, the company has become compliant with respect to:

  • Composition of Stakeholder Relationship Committee
  • Composition of Risk Management Committee

Financial Impact

As per the disclosure, the financial impact is stated as "Not significant" and quantifiable in monetary terms as the fine amount of ₹28,62,680.

Company Action

ONGC has requested both stock exchanges to waive off the levied fines, citing the circumstances of the non-compliance being beyond the company's control and the ongoing efforts to achieve full compliance.