3 major Indian oil companies face fines from BSE and NSE for 5 quarters due to non-compliance with board composition norms.

India's leading oil companies, including IOC, BPCL, and GAIL, face fines from BSE and NSE for 5 consecutive quarters due to non-compliance with listing norms related to board composition. The norms mandate the inclusion of a specific number of independent and women directors on their boards. Despite the fines, the companies argue that the appointment of directors is solely under the purview of the government.

August 25, 2024
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