Indian Oil, ONG, GAIL fined Rs 3.4 million for 4 straight quarters
OIL & GAS

Indian Oil, ONG, GAIL fined Rs 3.4 million for 4 straight quarters

State-owned oil and gas giants, including Indian Oil, ONGC, and GAIL (India) Ltd, have incurred fines for the fourth consecutive quarter due to non-compliance with listing requirements regarding board composition. Stock exchanges have imposed a cumulative fine of Rs 3.4 million on prominent players in oil refining and fuel marketing, such as Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL), and Bharat Petroleum Corporation Ltd (BPCL), as well as explorers like Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL), gas utility GAIL, and refiner Mangalore Refinery and Petrochemicals Ltd (MRPL). 

The fines stem from either a deficiency in the number of independent directors or the absence of mandated women directors, as outlined in separate filings by the companies. Notably, the companies underscored that board appointments are within the purview of the government.

(Source: ET)          

State-owned oil and gas giants, including Indian Oil, ONGC, and GAIL (India) Ltd, have incurred fines for the fourth consecutive quarter due to non-compliance with listing requirements regarding board composition. Stock exchanges have imposed a cumulative fine of Rs 3.4 million on prominent players in oil refining and fuel marketing, such as Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL), and Bharat Petroleum Corporation Ltd (BPCL), as well as explorers like Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL), gas utility GAIL, and refiner Mangalore Refinery and Petrochemicals Ltd (MRPL). The fines stem from either a deficiency in the number of independent directors or the absence of mandated women directors, as outlined in separate filings by the companies. Notably, the companies underscored that board appointments are within the purview of the government.(Source: ET)          

Next Story
Technology

Poonawalla Fincorp deploys five new AI solutions in digital drive

Poonawalla Fincorp Limited (PFL), a Cyrus Poonawalla Group-promoted non-banking financial company (NBFC) focused on consumer and MSME lending, has announced the launch of five new AI-powered solutions as part of its enterprise-wide digital transformation strategy. The new systems—Early Warning System (EWS), Travel Bot, RegIntel, Employee Relations (ER) Governance Tool, and AI-based Suspicious Transaction Reporting (STR)—aim to embed artificial intelligence across PFL’s core operations. This initiative goes beyond automation to create intelligent, scalable, and compliance-ready systems t..

Next Story
Technology

HGS launches AI-driven Interaction Intelligence solution

Hinduja Global Solutions (HGS), listed on the BSE and NSE, has announced the launch of Interaction Intelligence—an enterprise-grade artificial intelligence (AI) solution built on the HGS Agent X framework. The platform redefines quality assurance (QA) by transforming it from a routine customer service task into a strategic capability that delivers actionable insights and deeper understanding of customer sentiment. In an era of growing customer expectations for seamless, personalised, and proactive engagement, the Interaction Intelligence solution enables enterprises to analyse nearly 100 pe..

Next Story
Real Estate

Godrej Properties secures RERA nod for Worli luxury project

Godrej Properties Ltd (GPL), one of India’s leading real estate developers, has received project registration from the Maharashtra Real Estate Regulatory Authority (MahaRERA) for its upcoming residential project, Godrej Trilogy, in Worli, Mumbai. The development forms part of a joint redevelopment of a prime land parcel in one of Mumbai’s most sought-after neighbourhoods. Spread across approximately 2.63 acres, the project will include three luxury towers. The total gross revenue potential of the development is estimated to exceed Rs 100 billion. Strategically located just off Dr Annie B..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?