MOIL Limited has announced the cessation of its Chairman-cum-Managing Director due to superannuation, marking a significant leadership transition for the government enterprise. The company informed stock exchanges about this development in compliance with regulatory requirements.

Leadership Transition Details

The manganese ore mining company disclosed that Shri Ajit Kumar Saxena, who served as Chairman-cum-Managing Director, attained the age of superannuation on December 31, 2025. Following this milestone, he ceased to hold the position effective January 1, 2026.

Regulatory Compliance

The announcement was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to disclose material events and information that could impact investor decisions, including changes in key managerial personnel.

The company secretary and compliance officer, Neeraj Dutt Pandey, signed the official communication dated January 1, 2026, ensuring proper documentation of this corporate development.

Corporate Governance Impact

As a Government of India enterprise, MOIL Limited maintains strict adherence to corporate governance norms and transparency requirements. The timely disclosure of leadership changes demonstrates the company's commitment to keeping stakeholders informed about significant organizational developments.

The cessation of the Chairman-cum-Managing Director position due to superannuation represents a natural transition in the company's leadership structure, following standard retirement protocols for senior executives in government enterprises.

MOIL Limited , a Government of India Enterprise, is facing multiple tax demands from different authorities. The company has now received a fresh GST order demanding Rs 2.57 crores, adding to its existing service tax liability of Rs 1.90 crores.

Latest GST Demand Details

The Joint Commissioner of State Tax, Madhya Pradesh, has issued an order under Section 73(9) of the CGST/SGST Act, 2017 for FY 2021-22. The order was received on December 30, 2025, at 12:30 PM.

The demand relates to alleged mismatches and excess/ineligible claims in GSTR-3B vs GSTR-9, GSTR-1 vs GSTR-3B, and GSTR-2A vs Inward E-Way Bill filings. The total amount includes GST and penalty components.

Previous Service Tax Demand

Earlier, MOIL had received a service tax demand from the Commissioner (Appeals), CGST & Central Excise, Bhopal, related to royalty, District Mineral Foundation (DMF), and National Mineral Exploration Trust (NMET) for manganese ore consumed at its Ferro Manganese Plant in Balaghat.

Company's Response Strategy

MOIL Limited has indicated that both demands do not have immediate operational impact. For the latest GST demand, the company stated it is examining the order and will take appropriate legal steps, including filing an appeal within the prescribed time under the GST Act.

Regarding the earlier service tax demand, the company has already filed appeals and pre-deposited Rs 4.18 lakhs. MOIL plans to pursue further legal recourse against both orders.

Overall Financial Impact

The combined tax demands now total over Rs 4.47 crores, representing a significant financial exposure for the mining company. However, MOIL maintains that there is no immediate operational disruption expected from these demands as it pursues legal remedies through the appellate process.