Why did BSE, NSE fine IOC, BPCL etc for 5th consecutive quarter

India's leading oil companies, including Indian Oil and BPCL, were fined for a fifth quarter for not meeting listing regulations requiring independent and women directors on their boards. The companies cited that director appointments are government-controlled and requested waivers for the fines imposed by BSE and NSE for the June 2024 quarter. https://ift.tt/DeVMYFB