State-Owned Oil Giants Fined for Board Listing Violations
OIL & GAS

State-Owned Oil Giants Fined for Board Listing Violations

State-owned oil and gas giants including Indian Oil Corporation (IOC), Oil and Natural Gas Corporation (ONGC), and GAIL (India) Ltd have been fined for the fourth consecutive quarter for failing to comply with listing requirements regarding the number of directors on their boards.

Stock exchanges imposed cumulative fines totaling Rs 34 lakh on several major companies. These include oil refining and fuel marketing giants IOC, Hindustan Petroleum Corporation Ltd (HPCL), and Bharat Petroleum Corporation Ltd (BPCL), as well as exploration companies ONGC and Oil India Ltd (OIL), gas utility GAIL, and refiner Mangalore Refinery and Petrochemicals Ltd (MRPL). The fines pertain to non-compliance in the March quarter, according to exchange filings.

This marks the fourth straight quarter these companies have been penalized for not meeting the necessary director requirements, highlighting ongoing governance issues within India's state-owned energy sector.

State-owned oil and gas giants including Indian Oil Corporation (IOC), Oil and Natural Gas Corporation (ONGC), and GAIL (India) Ltd have been fined for the fourth consecutive quarter for failing to comply with listing requirements regarding the number of directors on their boards. Stock exchanges imposed cumulative fines totaling Rs 34 lakh on several major companies. These include oil refining and fuel marketing giants IOC, Hindustan Petroleum Corporation Ltd (HPCL), and Bharat Petroleum Corporation Ltd (BPCL), as well as exploration companies ONGC and Oil India Ltd (OIL), gas utility GAIL, and refiner Mangalore Refinery and Petrochemicals Ltd (MRPL). The fines pertain to non-compliance in the March quarter, according to exchange filings. This marks the fourth straight quarter these companies have been penalized for not meeting the necessary director requirements, highlighting ongoing governance issues within India's state-owned energy sector.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?