Oil India has been fined by the National Stock Exchange of India Limited (NSE) and BSE for ₹5,42,800 each due to non-compliance regarding the appointment of the required number of Independent Directors for the quarter ended September 2025. The company clarified the appointments are made by the Ministry of Petroleum & Natural Gas.
Fine Levied for Independent Director Shortfall
Oil India has received fines from both the National Stock Exchange of India Limited (NSE) and BSE totaling ₹5,42,800 each. These fines relate to a non-compliance issue identified during the quarter ended September 2025 (Q2 FY26).
Reason for Non-Compliance
The penalty was imposed due to non-appointment of the necessary number of Independent Directors. The company emphasized that as a Government of India Enterprise, the appointment of Directors is managed by the Administrative Ministry (Ministry of Petroleum & Natural Gas).
Company Response and Actions
Oil India stated the non-compliance was beyond its direct control. The company has formally requested the Ministry of Petroleum & Natural Gas to appoint the required Independent Directors to align with compliance standards. The email communication from NSE and BSE regarding the fine was dated November 28, 2025.
Financial Impact
Oil India has confirmed that this event has no material impact on the company’s financials, operations, or other activities.
Source: BSE