Mangalore Refinery and Petrochemicals Limited (MRPL) has received notices from the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Limited (NSE) for non-compliance with Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation pertains to the composition of the Board for the quarter ended June 30, 2025.
The company has been levied a fine of ₹5,36,900 each from BSE and NSE. MRPL has represented to the Exchanges for a waiver of the fine, citing its status as a Central Public Sector Enterprise (CPSE), where the nomination of Directors on the Board is managed by the Administrative Ministry, specifically the Ministry of Petroleum and Natural Gas (MoP&NG), Government of India.
The company has requested the Exchanges to consider waiving the fine.
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