NMDC Steel Limited appointed Sarita Chauhan as a Government Director on its Board of Directors with effect from October 12, 2026. The appointment was communicated by the Ministry of Steel, Government of India, under Order No. S-14011/1/2022-BLA.

Chauhan currently serves as Additional Secretary and Financial Advisor in the Ministry of Steel. She is a senior civil servant belonging to the 1999 batch of the Indian Administrative Service, assigned to the AGMUT Cadre. Her appointment is effective immediately or until further orders, whichever is earlier.

Regulatory Compliance and Eligibility

The company disclosed this change in directorate to BSE and National Stock Exchange of India Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing confirms that Chauhan is not related to any other Director on the Board of NMDC Steel Limited.

Additionally, the company stated that she is not disqualified from acting as a Director under the provisions of Section 164 of the Companies Act, 2013. She is also not debarred from holding the office of Director by any order of a Court, Tribunal, SEBI, or any other such authority.

Board Profile Details

This appointment reinforces the government's representation on the board of the state-owned steel producer, ensuring continued oversight from the administrative ministry responsible for the sector.

NMDC Steel Limited held its 11th Annual General Meeting (AGM) on September 28, 2026, via video conferencing and other audio-visual means. All 8 resolutions placed before shareholders were passed with the requisite majority, as confirmed by the consolidated scrutinizer's report issued by M/s B.R. Agrawal & Associates.

The meeting was chaired by Amitava Mukherjee, Chairman and Managing Director. A total of 52 members attended through video conferencing, out of a shareholder base of 7,20,289 as of the record date of September 21, 2026. The meeting commenced at 3:40 pm and concluded at 4:55 pm. Remote e-voting via NSDL was open from September 24 to September 27, 2026, with live e-voting also facilitated during the AGM.

Governance and board appointments

The AGM adopted the audited standalone financial statements for the fiscal year ended March 31, 2026, and approved several key governance resolutions. Shareholders approved the reappointment of Vinay Kumar as Director (Technical) and Joydeep Dasgupta as Director (Production). The Board was also authorised to fix the remuneration of Statutory Auditors for FY27. Under special business, the appointments of Krishna Kumar Thakur as Director (Personnel), Anurag Kapil as Director (Finance), and Vivek Nishant Nath as Director (Commercial) were ratified. The remuneration of Cost Auditors for FY27 was also ratified.

Audit and compliance status

M/s Sharad & Associates submitted an unmodified audit report for FY26, indicating no qualifications or adverse remarks in the financial statements. However, the secretarial audit report by M/s B.R. Agrawal & Associates noted reservations regarding the composition of the Board of Directors, specifically the absence of Independent Directors, including a Women Independent Director, and the non-constitution of certain Board Level Committees. The Company Secretary stated that replies to these observations are included in the Board's Report.

Voting results by resolution

The scrutinizer's report confirmed zero invalid votes across all 8 resolutions. The promoter and promoter group, holding 1,781,633,571 shares, voted 100% in favour of every resolution via e-voting. Overall voter turnout across all resolutions was approximately 79.66% of total outstanding shares. The table below summarises the outcome for each resolution.

Voting and attendance details

The following table captures the key meeting and scrutinizer details as disclosed in the regulatory filing.

What the numbers show

The reappointment of Vinay Kumar (Resolution 2) drew the highest against-vote share among all resolutions at 5.03%, with 117,432,379 votes cast against, primarily from public institutional shareholders who voted 21.51% against. Director appointments under special business (Resolutions 5, 6, and 7) also saw institutional opposition in the range of 13% to 17%, suggesting selective scrutiny from institutional investors on board composition. In contrast, procedural resolutions such as auditor remuneration (Resolutions 4 and 8) received near-unanimous approval, with against votes below 0.16%. The divergence between the clean statutory audit opinion and the secretarial audit reservation regarding board composition, particularly the absence of Independent Directors, signals a governance gap that the company has acknowledged in its Board's Report.