MTNL fined Rs 0.54 million by NSE and BSE for non-compliance with board norms

National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have imposed a penalty of Rs 0.542 million on Mahanagar Telephone Nigam Limited (MTNL) for failing to meet requirements on board composition.

In a regulatory filing, MTNL said it is required to appoint four additional independent directors but has been unable to do so. The penalty includes Rs 0.46 million in basic fines and Rs 82,800 as goods and service tax (GST).