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MSTC Ltd. ( (IN:MSTCLTD) ) has shared an announcement.
MSTC Limited’s board has formally addressed fines imposed by BSE and NSE for non-compliance with Regulation 17(1) of SEBI’s Listing Obligations and Disclosure Requirements, specifically relating to the company’s board composition. The board acknowledged past non-compliance, noted that three independent directors were appointed by the administrative ministry in the June 2025 quarter—bringing MSTC into compliance with requirements for a woman independent director and committee composition—and highlighted that one independent director position remains vacant. Emphasizing that, as a government company, the authority to appoint independent directors rests solely with the President of India acting through the Ministry of Steel, the board has recommended continued follow-up with the ministry to expedite remaining appointments and has requested the stock exchanges to waive the fines, arguing the issue lay beyond the company’s control.
More about MSTC Ltd.
MSTC Limited is a Government of India enterprise operating under the Ministry of Steel, engaged primarily in e-commerce services and trading activities, including e-auctions and e-procurement platforms for various sectors across India.
Average Trading Volume: 15,606
Technical Sentiment Signal: Buy
Current Market Cap: 36.01B INR
For detailed information about MSTCLTD stock, go to TipRanks’ Stock Analysis page.