M Tek Copper Addresses NSE Non-Compliance Regarding Board Composition
M Tek Copper Limited (erstwhile known as Madhav Copper Limited) has confirmed the receipt of a notice from the National Stock Exchange of India Limited (NSE) concerning non-compliance with regulations for the quarter ended March 31, 2026.The notice, dated May 27, 2026, related to non-compliance with the composition of the Board of Directors.
The company stated that the non-compliance issue has been rectified. To ensure full compliance with the applicable regulations, M Tek Copper appointed a sixth director to its Board, effective May 21, 2026.
The National Stock Exchange of India Limited (NSE) levied a fine against the company due to the alleged contravention.
The financial and operational impact details related to the non-compliance are summarized below:
| Particulars | Detail |
|---|---|
| Authority Issuing Notice | National Stock Exchange of India Limited |
| Date of Order Receipt | May 27, 2026 |
| Nature of Violation | Non-compliance relating to the composition of the Board of Directors. |
| Fine Amount | Rs. 70,000/- plus 18% GST (Rs. 12,600/-) |
| Total Financial Impact | Rs. 70,000/- plus GST amounting to Rs. 12,600/- |
| Operational Impact | No material impact on operations or other activities of the Company. |
The company confirmed that it is currently in the process of submitting the appropriate representation and/or waiver application before the Exchange.
MCL Stock Price Movement
On Wednesday, Madhav Copper Limited shares slipped by 0.94% to settle at ₹61.36. The equity traded on a volume of 51,773 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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