Mishra Dhatu Nigam Ltd (MIDHANI) informed exchanges on August 26, 2026, that BSE and NSE had each imposed a fine of Rs 12,59,060, inclusive of GST, on August 25. The MIDHANI fine relates to non-compliance with specified provisions of the SEBI Listing Obligations and Disclosure Requirements Regulations for the quarter ended June 30, 2026, according to the company's BSE filing.

The two exchanges levied identical fines, taking the combined amount imposed to Rs 25,18,120. MIDHANI said the action covered requirements under Regulations 17(1), 17(2A), 18(1), 19(1), 19(2), 20(2), 20(2A) and 21(2) of SEBI LODR.

MIDHANI explains board appointment position

The government-owned company said it had not paid any fine to the stock exchanges as of the filing date for non-compliances concerning board composition. It explained that the authority to appoint directors to the MIDHANI board rests with the President of India acting through the Ministry of Defence.

MIDHANI added that its board has no role in appointing directors. The cited SEBI LODR provisions concern board composition, board meetings and the constitution or composition of board committees.

  • BSE fine: Rs 12,59,060, including GST
  • NSE fine: Rs 12,59,060, including GST
  • Relevant quarter: ended June 30, 2026
  • Exchange action date: August 25, 2026

Company to submit waiver request

MIDHANI said it would submit a fine-waiver request to both NSE and BSE in line with NSE circular NSE/CML/51846 dated March 31, 2022. The company cited impossibility of compliance under the applicable policy for exemption of fines.

The PSU stated that the fines levied by the exchanges have no impact on its financial, operational or other activities. Company Secretary and Compliance Officer Paul Antony signed the Regulation 30 disclosure.

Source: BSE corporate announcement.