MOIL Limited, the government-owned manganese ore mining company, has been penalized by India's leading stock exchanges for regulatory non-compliance. The company disclosed that both the National Stock Exchange of India Limited (NSE) and BSE Limited have imposed fines related to board composition violations during the quarter ended December 31, 2025.

Regulatory Action Details

The stock exchanges took action against MOIL for non-compliance with provisions regarding board composition requirements. The company received official communication about these penalties on February 27, 2026.

Impact Assessment

MOIL has clarified that these regulatory fines will not affect the company's financial performance, operational activities, or other business functions. The penalties are administrative in nature and relate specifically to governance compliance requirements.

Regulatory Framework

The disclosure was made pursuant to Regulation 30 read with Para-A of Part-A of Schedule-III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to inform stock exchanges about material events, including regulatory actions and penalties.

Company Response

MOIL's Company Secretary and Compliance Officer, Neeraj Dutt Pandey, signed the disclosure document on February 28, 2026. The company has formally communicated this development to both exchanges as part of its regulatory compliance obligations.

The penalties highlight the importance of maintaining proper board composition as mandated by corporate governance norms for listed entities in India.

MOIL Limited has secured a major legal victory in its GST dispute, with the appellate authority ruling in favor of the company and setting aside a substantial tax demand. The government-owned manganese ore mining company announced this development through a regulatory filing dated 21.02.2026.

Appellate Authority Rules in MOIL's Favor

The Commissioner (Appeals), CGST & Central Excise, Bhopal has allowed MOIL's appeal through Order-in-Original dated 29.01.2026, which the company received on 21.02.2026. The appellate authority set aside the impugned Order-in-Original dated 13.12.2024, effectively quashing the entire GST demand that had been imposed on the company.

The dispute centered around GST demand under the reverse charge mechanism on MPGATSVVA (Madhya Pradesh Guarantee for Auction of Tendu leaves, Sal Seeds, Vikas Vyavastha) paid to the Mining Department of Madhya Pradesh.

Financial Impact and Risk Elimination

The appellate authority's favorable ruling has eliminated significant financial exposure for MOIL Limited:

The company had initially faced this demand from the Joint Commissioner, CGST & Central Excise, Jabalpur, which included equal penalty along with the principal GST amount.

Legal Proceedings Timeline

The case progression demonstrates MOIL's successful legal strategy:

Current Status and Future Implications

With the appellate authority's decision, no liability survives as on the date of the order. However, the company has noted that this relief remains subject to any further appeal that the department might file. MOIL had previously informed exchanges about this matter through letter No. CS/NSE-BSE/2024-25/325 dated 16.01.2025.

This development represents a significant positive outcome for MOIL Limited, eliminating substantial financial risk and validating the company's position on the GST matter related to its mining operations in Madhya Pradesh.