September 1 (PTI): Mahanagar Telephone Nigam Ltd (MTNL), a state-run telecom company, has been fined ₹13.46 lakh by the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The reason behind this is that MTNL failed to follow the rules set by the Securities and Exchange Board of India (SEBI) regarding the structure of its board of directors. The violations include not appointing a woman director on its board and issues with various committees such as audit, nomination, remuneration, stakeholder relationship, and risk management. Mahanagar Telephone Nigam Ltd stated that as a government company, all board appointments are handled by the Department of Telecommunications. They stated that two independent directors, including one woman director, were appointed by DoT effective April 15. It also said that appointments of four more independent directors has already been taken up with the Indian government.
