MRPL appoints Ram Raj & Co. as statutory auditors for FY27

0 min read | Published on 09 Sept 2026, 06:33 PM |Updated on 09 Sept 2026, 06:33 PM

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Naman SScanX News Team

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Key Highlights

MRPL appoints M/s. Ram Raj & Co. and M/s. A Raghavendra Rao & Associates as statutory auditors for FY27
Appointment letter from CAG office received on September 9, 2026
Action taken under Section 139 of Companies Act, 2013 and SEBI LODR regulations

*this image is generated using AI for illustrative purposes only.

Mangalore Refinery And Petrochemicals Ltd has appointed two firms as its statutory auditors for the financial year 2026-27. The company received the appointment letter from the Office of the Comptroller and Auditor General of India on September 9, 2026.

The appointment was made pursuant to Section 139 of the Companies Act, 2013. It also complies with Regulation 30(2) read with Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Auditor Details

The appointed firms are:

M/s. Ram Raj & Co., Chartered Accountants, based in Bengaluru
M/s. A Raghavendra Rao & Associates, Chartered Accountants, based in Mangaluru

M/s. Ram Raj & Co. operates its primary office in Jayanagar, Bengaluru. M/s. A Raghavendra Rao & Associates has its head office in Sampurna Chambers, Bengaluru, and maintains six branch offices.

Historical Stock Returns for Mangalore Refinery & Petroleum

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+6.65%	+7.61%	+10.45%	-10.69%	+45.60%	+330.98%

How might the appointment of these specific audit firms influence investor confidence in MRPL's financial transparency for FY 2026-27?

Are there any anticipated changes in MRPL's internal control frameworks or reporting timelines due to the new auditor assignments?

What is the historical track record of M/s. Ram Raj & Co. and M/s. A Raghavendra Rao & Associates with other public sector undertakings in the energy sector?

Mangalore Refinery & Petroleum

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MRPL fined ₹14.2 lakh each by BSE and NSE for board non-compliance

1 min read | Published on 26 Aug 2026, 05:19 PM |Updated on 26 Aug 2026, 05:19 PM

Reviewed by

Ashish TScanX News Team

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Key Highlights

MRPL fined ₹14,19,540 each by BSE and NSE for Q1FY27 board composition lapses
Violations cited under multiple SEBI LODR regulations regarding board and sub-committee structure
Total penalty including GST stands at ₹28,39,080 across both exchanges
Company seeks waiver citing director nominations controlled by Ministry of Petroleum and Natural Gas

*this image is generated using AI for illustrative purposes only.

Mangalore Refinery & Petroleum has been penalised by both major stock exchanges for regulatory lapses regarding its board composition during the first quarter of FY27.

The Central Public Sector Enterprise (CPSE) received notices from BSE Limited and the National Stock Exchange of India Limited for failing to comply with specific provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Penalty Details

The fines were levied for non-compliance with Regulations 17(1), 17(2A), 18(1), 19, 20, and 21(2) concerning the composition of the Board and its sub-committees for the quarter ended June 30, 2026.

Exchange	Penalty Amount	Period of Non-Compliance
BSE Limited	₹14,19,540	Q1FY27
NSE Limited	₹14,19,540	Q1FY27

The total financial impact amounts to ₹28,39,080, inclusive of GST at 18%. The company disclosed this development in a filing dated August 26, 2026, under Regulation 30 of the SEBI LODR Regulations.

Waiver Request

In response to the penalties, MRPL has formally represented to both exchanges seeking a waiver of the fines. The company argued that as a CPSE, the nomination of directors to its board is determined by the Administrative Ministry, specifically the Ministry of Petroleum and Natural Gas (MoP&NG) under the Government of India.

This structural dependency on government appointments was cited as the primary reason for the composition irregularities during the specified quarter.

Historical Stock Returns for Mangalore Refinery & Petroleum

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+6.65%	+7.61%	+10.45%	-10.69%	+45.60%	+330.98%

Will the BSE and NSE grant the waiver for MRPL's fines given the company's status as a CPSE and its dependency on Ministry of Petroleum and Natural Gas appointments?

How might this regulatory lapse impact MRPL's corporate governance ratings or investor confidence in the short term?

Are there other Central Public Sector Enterprises currently facing similar board composition delays that could lead to a broader sectoral review of SEBI LODR compliance?

Mangalore Refinery & Petroleum

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