ONGC Fined ₹28.6 Lakhs by Exchanges for Compliance Lapses; Seeks Waiver
ONGC has been fined ₹14.31 lakhs each by BSE and NSE for non-compliance with SEBI (LODR) Regulations regarding Board and Committee composition for the quarter ended June 30, 2026. The company attributes this to delays in director appointments by the Government of India and has requested a waiver.
While fines have been levied, the company states that the issue was beyond its control and has requested a waiver. The non-compliance pertains to board and committee composition, which has reportedly been rectified for some committees. The financial impact of the fine is relatively small for ONGC.
The company has been levied fines by stock exchanges due to non-compliance with SEBI regulations.
Oil and Natural Gas Corporation Limited (ONGC) has received notices from BSE Limited and National Stock Exchange of India Limited, both dated 25.08.2026, levying a fine of ₹14,31,340 (including GST) each. These fines are for non-compliance with various regulations under SEBI (LODR) Regulations, 2015, specifically concerning the composition of the Board, Quorum of Board Meetings, and the composition of key committees, including the Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee, and Risk Management Committee, for the quarter ended 30.06.2026.
ONGC has stated that as a Government Company, the appointment of Directors, including Independent Directors, is vested with the Government of India (GoI). The company has been regularly pursuing the GoI for the appointment of the requisite number of Independent Directors to meet compliance requirements, and copies of these communications were submitted to the stock exchanges. The company emphasized that the non-compliance was beyond its control.
Furthermore, ONGC informed that it has become compliant with the composition of the Stakeholder Relationship Committee and Risk Management Committee effective from 19.08.2026. In light of the circumstances, the company has requested both exchanges to waive the levied fines.
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Oil & Natural Gas Corporation Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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