M Tek Copper fined Rs 70,000 by NSE for board composition lapse

M Tek Copper Limited has been penalized by the National Stock Exchange of India Limited (NSE) for failing to maintain the required board composition during the quarter ended March 31, 2026. The exchange levied a financial penalty of Rs. 70,000 plus 18% GST, totaling Rs. 12,600, due to the violation of Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that while there is a quantifiable monetary impact from the fine, its operations and other activities remain unaffected.

The non-compliance related to the composition of the Board of Directors during the specified period. In response to the notice received on May 27, 2026, Madhav Copper stated that the lapse has been rectified. The company appointed a sixth director to its Board with effect from May 21, 2026, thereby ensuring adherence to the regulatory requirements moving forward.

Following the rectification, the company is proceeding with submitting an appropriate representation or waiver application before the exchange regarding the penalty. The disclosure was made in compliance with SEBI Circular reference no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

Details of the Regulatory Action

The following table outlines the specific details of the notice and the penalty imposed by the exchange:

Sr. No.	Particulars	Details
1	Name of the authority	National Stock Exchange of India Limited
2	Nature and details of the action(s) taken, initiated or order(s) passed	NSE has levied a fine of Rs. 70,000/- plus 18% GST 12600/- for non-compliance with Regulation 17(1) of SEBI LODR Regulations, 2015 for the quarter ended March 31, 2026.
3	Date of receipt of direction/order	May 27, 2026
4	Details of violation(s)/contravention(s) committed or alleged to be committed	Non-compliance with Regulation 17(1) of SEBI LODR Regulations relating to composition of Board of Directors during the relevant period.
5	Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible	Financial impact to the extent of fine amount of Rs. 70,000/- plus GST amounting to Rs. 12,600/- There is no material impact on operations or other activities of the Company.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.48%	+0.03%	+6.58%	+43.63%	+4.57%	-27.10%

M Tek Copper Limited has announced the appointment of Mr. Chintan Bhadiyadra as an Additional Director to its Board. The decision was taken during a board meeting held on May 21, 2026. Mr. Bhadiyadra has been appointed in the capacity of a Non-Executive Non-Independent Director, effective from the date of the meeting.

The appointment is subject to the approval of shareholders at the ensuing General Meeting of the Company. As per the regulatory disclosure, the new director is liable to retire by rotation. The recommendation for his appointment was made by the Nomination & Remuneration Committee of the Company.

Mr. Bhadiyadra holds a Director Identification Number (DIN) 11729188. He is a post-graduate in the chemistry field and has previously served as a Laboratory Manager in Pathology at Bhavnagar. He confirmed that he is not debarred from holding the office of director by virtue of any SEBI Order or any other authority.

Regarding remuneration, Mr. Bhadiyadra will be entitled to sitting fees as may be decided by the Board from time to time. The disclosure further stated that he does not hold any directorships in other companies nor does he hold memberships in committees of other public limited companies. There is no inter-relationship reported within the company.

Details of Appointment

The following table outlines the key details regarding the new director's appointment:

Sr. No.	Particulars	Details
1	Name of Director	Mr. Chintan Bhadiyadra
2	DIN	11729188
3	Designation	Additional Director (Non-Executive Non-Independent Director)
4	Date of Birth	07-10-1976 (Age 49 years)
5	Date of First Appointment	21-05-2026
6	Brief Profile	Post graduate in chemistry; served as Laboratory Manager in Pathology at Bhavnagar.
7	Remuneration	Entitled to sitting fees as decided by the Board.

The Board meeting commenced at 2:30 P.M. and concluded at 4:10 P.M. on May 21, 2026. The company has requested the stock exchanges to take the information on record.