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flag MTNL fined ₹5.42 lakh for missing SEBI-mandated independent director appointments.

flag MTNL, a state-owned telecom company, was fined ₹5.42 lakh by India’s NSE and BSE for failing to appoint four required independent directors, as mandated by SEBI’s LODR rules. flag The penalty, including ₹4.6 lakh in fines and ₹82,800 GST, stems from delays in board appointments, which MTNL says are beyond its control since all appointments are made by the Department of Telecommunications. flag Though two independent directors, including one woman, were appointed in April 2025, the remaining four appointments are pending, with MTNL requesting a waiver of the fines and urging the government to act. flag The exchanges notified MTNL of the penalty on November 28, 2025, and the company confirmed the matter in a filing on November 30, 2025.

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