India, Sept. 1 -- The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) have imposed penalties on Mahanagar Telephone Nigam Limited (MTNL), amounting to a total of Rs 6.73 lakh. The fines were levied for violations of regulations set by the Securities and Exchange Board of India (SEBI).

According to a regulatory filing, "MTNL has received letters from the NSE and the BSE regarding non-compliance with the provisions of Regulation, of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015." The non-compliance relates to issues concerning the constitution of the Audit Committee and the composition of the Board, including the absence of a female director.

The penalties also cover failures to meet the re...