Oil India has issued the notice for its 67th Annual General Meeting (AGM), scheduled for September 17, 2026. The meeting will approve a final dividend of ₹1.00 per equity share for FY26 and address key governance matters.

The Maharatna Central Public Sector Enterprise will hold the virtual meeting at 11:00 am through Video Conferencing or Other Audio Visual Means (OAVM). The proceedings are deemed conducted at its registered office in Duliajan, Assam. In compliance with Regulation 30 and 34 of the SEBI (LODR) Regulations, 2015, the company is also submitting the Integrated Annual Report for FY 2025-26 alongside the notice.

AGM Agenda and Resolutions

The Board of Directors recommended the dividend during its meeting on May 13, 2026. Shareholders will vote on ordinary business items including the adoption of audited financial statements for the year ended March 31, 2026.

Key resolutions include:

• Re-appointment of Shri Abhijit Majumder as Director (Finance), who retires by rotation.
• Appointment of Shri Bhupinder Kumar as Government Nominee Director with effect from March 10, 2026.
• Authorization for the Board to decide remuneration for Statutory Auditors for FY27.

A special resolution seeks member consent to amend the Objects Clause of the Memorandum of Association, including re-numbering and bifurcation of clauses under 'The Objects to be pursued by the Company'.

E-Voting Schedule

Members holding shares as of the cut-off date, September 10, 2026, are eligible to vote. The remote e-voting facility operates for four days prior to the meeting. Ms. Parul Jain, Managing Partner of M/s VAP & Associates, has been appointed as the Scrutinizer to oversee the voting process.

Shareholders unable to cast votes remotely may use the e-voting system during the AGM proceedings. The voting platform is managed by Central Depository Services (India) Limited. Voting results will be declared within two working days of the meeting's conclusion.

Tax Deduction at Source and KYC Compliance

Oil India will deduct tax at source on dividend payments in accordance with the Income Tax Act, 2025. To determine the applicable TDS rate, shareholders must submit Form-121 or Form-41 by September 7, 2026. The submission portal is accessible via the company’s investor services section.

Effective April 1, 2024, dividends for physical share holders are paid only through electronic mode. Payments will be withheld if KYC details, including PAN, nomination, contact information, bank account details, and specimen signatures, are not updated with the Registrar and Transfer Agent, KFin Technologies Limited. Physical shareholders are urged to dematerialize their holdings at the earliest.

Corporate Governance Details

Company Secretary Ajaya Kumar Sahoo issued the communication on August 25, 2026. Copies were dispatched to depositories, including National Securities Depository Limited and Central Depository Services (India) Limited, as well as KFin Technologies Limited. Further details are hosted on the company’s website and the e-voting agency portal.

Oil India received penalties of ₹9,66,420 each from the National Stock Exchange and BSE Limited for non-compliance with board composition regulations during the quarter ended June 2026.

The exchanges levied the fines on August 25, 2026, citing violations of Regulation 17(1), 18(1), and 19(1)/19(2) of the SEBI (LODR) Regulations, 2015. The specific contraventions involved the non-appointment of the requisite number of Independent Directors, including one Woman Independent Director, as well as non-compliant compositions for the Audit Committee and Nomination & Remuneration Committee.

Regulatory Context

As a Government Company, Oil India stated that its directors are appointed by the President of India through the Ministry of Petroleum & Natural Gas (MoP&NG). The company noted it has regularly requested the MoP&NG to appoint the necessary independent directors to comply with SEBI norms.

Oil India emphasized that the non-compliance regarding the Board composition and committee structures was beyond its control due to the statutory appointment process for government-owned entities.

Financial Impact

The company disclosed that the penalties have no material impact on its financials, operations, or other activities. The total monetary liability from these specific regulatory actions amounts to ₹19,32,840 (₹9,66,420 x 2).

The disclosure was made under Regulation 30 of the SEBI (LODR) Regulations, 2015, on August 26, 2026.