State-owned oil and gas giants, including IndianOil, ONGC, and GAIL (India) Ltd, face fines for the fourth consecutive quarter for not meeting listing requirements. The fines, totaling Rs 34 lakh, were imposed by stock exchanges for lacking the mandated number of directors on their boards, particularly independent and women directors. While the companies attribute the shortfall to government-appointed directors, they have requested waivers, emphasizing their efforts to comply. The fines highlight persistent challenges in meeting corporate governance norms, despite ongoing efforts by the companies to address the issue.
Oil and Gas Giants Fined Again for Board Composition Shortfalls
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