In a significant corporate leadership development, SAIL appoints Mohit Malpani as its new Company Secretary and Compliance Officer, effective October 1, 2026. Steel Authority of India Limited (SAIL), a premier Maharatna Public Sector Enterprise under the Ministry of Steel, made the official regulatory disclosure following the superannuation of the former Company Secretary, M.B. Balakrishnan, on September 30, 2026.
Mr. Malpani, who also serves as Executive Director (Finance & Accounts) at the corporate headquarters, brings more than 35 years of multifaceted financial and operational leadership to the position. Under his dual mandate, he will oversee statutory governance, investor disclosures, board coordination, and regulatory compliance under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Quick Fact Sheet: Mohit Malpani Appointment at SAIL
| Parameter | Official Detail |
|---|---|
| Official Announcement | SAIL Appoints Mohit Malpani as Company Secretary |
| Parent Organization | Steel Authority of India Limited (SAIL) |
| Enterprise Category | Maharatna Central Public Sector Enterprise (CPSE) |
| Administrative Ministry | Ministry of Steel, Government of India |
| New Designation | Company Secretary & Compliance Officer |
| Concurrent Corporate Role | Executive Director (Finance & Accounts) |
| Effective Date | October 1, 2026 |
| Predecessor | M.B. Balakrishnan (Superannuated on September 30, 2026) |
| Statutory Provision | Regulation 6(1) of SEBI (LODR) Regulations, 2015 |
| Years of Service at SAIL | Over 35 Years (Joined August 1991) |
Background: How SAIL Appoints Mohit Malpani to Lead Corporate Governance
The governance transition occurred following the scheduled superannuation of M.B. Balakrishnan on September 30, 2026. In compliance with statutory stock exchange listing norms, the Board of Directors of Steel Authority of India Limited approved the leadership handover.
As SAIL appoints Mohit Malpani, the state-run steelmaker unites strategic financial control with corporate secretarial compliance under an experienced administrator. The official disclosure was formally communicated to the National Stock Exchange of India (NSE) and the BSE Limited, ensuring full transparency in regulatory reporting.
Career Profile & 35-Year Journey of Mohit Malpani at SAIL
Mohit Malpani is a seasoned finance and corporate affairs veteran whose career spans three and a half decades inside India’s largest public-sector steel conglomerate:
- Entry into SAIL (1991): He joined Steel Authority of India Limited in August 1991 as a young finance professional and progressively rose through senior administrative ranks.
- Leadership at Steel Plants: Over the decades, he headed the Finance and Accounts divisions across several major manufacturing units, including the IISCO Steel Plant (Burnpur), Durgapur Steel Plant (DSP), and the Alloy Steels Plant (ASP) in West Bengal.
- Mining Operations Expertise: He served as the financial head for SAIL’s Jharkhand Group of Mines, managing the raw-material cost economics for critical iron ore and flux operations.
- Joint Venture Management: In an essential commercial assignment, he functioned as the Chief Financial Officer (CFO) of the SAIL–RITES joint venture company, Sail Rites Bengal Wagon Industry Private Limited (SRBWIPL).
- Corporate Elevation: Prior to his secretarial appointment, he was elevated to the post of Executive Director (Finance & Accounts) at SAIL’s Corporate Office in New Delhi.
Key Statutory Responsibilities as Compliance Officer
Under Regulation 6(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, every listed entity must appoint a qualified Company Secretary as its Compliance Officer.
As SAIL appoints Mohit Malpani to this dual office, his primary responsibilities include:
- Boardroom Governance: Coordinating board meetings, facilitating sub-committee proceedings (such as the Audit Committee and Nomination & Remuneration Committee), and documenting corporate decisions.
- Stock Exchange Disclosures: Ensuring timely submission of price-sensitive information, quarterly financial results, shareholding patterns, and material events to stock exchanges.
- Shareholder Relations: Addressing investor grievances, overseeing dividend disbursements, and facilitating annual general meetings (AGMs).
- Statutory Adherence: Ensuring meticulous compliance with the Companies Act, 2013, Department of Public Enterprises (DPE) guidelines, and SEBI regulations.
Static GK: Overview of Steel Authority of India Limited (SAIL)
For candidates preparing for competitive exams, understanding the institutional framework of SAIL is essential:
- Incorporation: Incorporated on January 24, 1973.
- Corporate Status: Conferred prestigious Maharatna status in 2010.
- Headquarters: New Delhi.
- Administrative Ministry: Ministry of Steel, Government of India.
- Integrated Steel Plants (5 Units):
- Bhilai Steel Plant (Chhattisgarh)
- Rourkela Steel Plant (Odisha)
- Bokaro Steel Plant (Jharkhand)
- Durgapur Steel Plant (West Bengal)
- IISCO Steel Plant at Burnpur (West Bengal)
- Special Steel Plants (3 Units):
- Alloy Steels Plant (Durgapur, West Bengal)
- Salem Steel Plant (Tamil Nadu)
- Visvesvaraya Iron and Steel Plant (Bhadravati, Karnataka)
- Official Portal: For comprehensive corporate reports and circulars, visit the official portal at Steel Authority of India Limited (SAIL).
High-Yield Takeaways for UPSC, SSC & Banking Exams
- News Anchor: SAIL appoints Mohit Malpani as Company Secretary and Compliance Officer.
- Effective Date: October 1, 2026.
- Executive Role: Executive Director (Finance & Accounts).
- Predecessor: M.B. Balakrishnan.
- Legal Regulation: Regulation 6(1) of SEBI (LODR) Regulations, 2015.
- PSU Status: SAIL is one of the premier Maharatna CPSEs under the Ministry of Steel.
Practice Questions for Competitive Exams
Multiple Choice Questions (MCQs)
Q1. Who among the following was appointed as the new Company Secretary and Compliance Officer of Steel Authority of India Limited (SAIL) in October 2026?
- (a) Amarendu Prakash
- (b) Mohit Malpani
- (c) M.B. Balakrishnan
- (d) V.S. Chakravarthy
- Answer: (b) Mohit Malpani
Q2. Under which regulatory framework is a listed public enterprise required to appoint a qualified Company Secretary as its Compliance Officer?
- (a) Section 12 of the Competition Act, 2002
- (b) Regulation 6(1) of SEBI (LODR) Regulations, 2015
- (c) Section 148 of the Companies Act, 2013
- (d) RBI Master Directions on Corporate Governance
- Answer: (b) Regulation 6(1) of SEBI (LODR) Regulations, 2015
Q3. Consider the following statements regarding Steel Authority of India Limited (SAIL):
- It was granted Maharatna status by the Government of India in 2010.
- The IISCO Steel Plant and Durgapur Steel Plant are integrated manufacturing units under SAIL.
- In October 2026, SAIL appointed Mohit Malpani as its Company Secretary succeeding M.B. Balakrishnan.
Which of the statements given above are correct?
- (a) 1 and 2 only
- (b) 2 and 3 only
- (c) 1 and 3 only
- (d) 1, 2, and 3
- Answer: (d) 1, 2, and 3
Frequently Asked Questions (FAQs)
Why is it significant that SAIL appoints Mohit Malpani?
The appointment is significant because SAIL appoints Mohit Malpani to bridge executive financial management with statutory governance, ensuring rigorous adherence to SEBI regulations and transparent investor disclosures across India’s leading steel CPSE.
When did Mohit Malpani assume the role of Company Secretary at SAIL?
He assumed office as Company Secretary and Compliance Officer on October 1, 2026.
Who preceded Mohit Malpani as Company Secretary of SAIL?
He succeeded M.B. Balakrishnan, who superannuated from the service of SAIL on September 30, 2026.
What other corporate post does Mohit Malpani hold at SAIL?
Alongside his secretarial assignment, he serves as the Executive Director (Finance & Accounts) at SAIL’s Corporate Office in New Delhi.
What are the main steel plants where Mohit Malpani served previously?
During his 35-year tenure at SAIL, he headed finance operations at the IISCO Steel Plant (Burnpur), Durgapur Steel Plant, Alloy Steels Plant, and the Jharkhand Group of Mines.
Under which ministry does SAIL operate?
Steel Authority of India Limited (SAIL) operates under the administrative jurisdiction of the Ministry of Steel, Government of India.
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