Mstc Limited has been levied a fine of ₹5,42,800 (inclusive of GST) by BSE Limited for the quarter ended December 31, 2025. The non-compliance pertains to the composition of the Board under Regulation 17(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company clarified to BSE that as a Mini Ratna Category-I PSU under the administrative control of the Ministry of Steel, Government of India, the appointment of Directors, including Independent Directors, vests with the President of India through the Ministry of Steel. Mstc Limited has no role in the appointment of directors unless nominated by the Government of India. Furthermore, Mstc Limited stated that the non-compliance was neither due to negligence nor within the management's control. Continuous efforts are being made to meet compliance requirements, and the company has been following up with the Ministry of Steel for the appointment of independent directors, but has not yet received nominations. Consequently, Mstc Limited has requested the Stock Exchanges to waive the fine. The company also emphasized that the levied fine has no impact on its financial, operational, or other activities.
