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Oil Corporation Limited2024-04-012025-03-31Quarterly2024-12-31EquitytruetruefalseDuring the quarter Octorber-December 2024, there were no acquistions more than the threshold limits specified under Para A(1) of Part A of Schedule III of SEBI LODR.truetrueTop 100 listed entitiestruei00086Original# Shri Satish Kumar Vaduguri (DIN-09322002), Director (Marketing) was holding additional charge of Chairman w.e.f. 01.09.2024, Consequent to appointment of Shri A. S. Sahney as Chairman of IndianOil , the additional charge of Chairman, IndianOil entrusted to him was concluded on 12.11.2024. As on 31.12.2024, Shri Satish Kumar Vaduguri is continuing as Director (Marketing) of the Company. ^ Shri Nachimuthu Senthil Kumar (DIN-10230965), Director (Pipelines) holding additional charge of Director (Planning & Business Development) w.e.f. 01.09.2024. ~ Dr.(Prof.) Ram Naresh Singh (DIN 07571840), Independent Director became Chairperson of Audit Committee and Stakeholders Relationship Committee w.e.f. 24.11.2024. truefalseMrArvinder Singh Sahney10652030Executive DirectorChairperson1970-10-09falseActiveNA2024-11-133000MrSATISH KUMAR VADUGURI09322002Executive DirectorNot Applicable1965-07-17falseActiveNA2021-10-281010MrNACHIMUTHU SENTHIL KUMAR10230965Executive DirectorNot Applicable1965-06-13falseActiveNA2023-08-141010MrANUJ JAIN10310088Executive DirectorNot Applicable1971-10-23falseActiveNA2023-10-091010MrALOK SHARMA10453982Executive DirectorNot Applicable1966-03-24falseActiveNA2024-01-161000MsRASHMI GOVIL10531397Executive DirectorNot Applicable1970-09-12falseActiveNA2024-03-151010MrARVIND KUMAR09224177Executive DirectorNot Applicable1967-10-17falseActiveNA2024-07-171000MsSUJATA SHARMA07775238Non-Executive - Nominee DirectorNot Applicable1976-07-15falseActiveNA2024-05-111000MrDILIP GOGOI LALUNG09398549Non-Executive - Independent DirectorNot Applicable1968-01-03falseActiveNA2021-11-242024-11-23361110Tenure CompletionMrASHUTOSH PANT03057160Non-Executive - Independent DirectorNot Applicable1976-07-10falseActiveNA2021-11-242024-11-23361100Tenure CompletionMrDATTATREYA RAO SIRPURKER09400251Non-Executive - Independent DirectorNot Applicable1957-08-22falseActiveNA2021-11-242024-11-23361110Tenure CompletionMrPRASENJIT BISWAS09398565Non-Executive - Independent DirectorNot Applicable1958-01-20falseActiveNA2021-11-242024-11-23361101Tenure CompletionMrSUDIPTA KUMAR RAY02534632Non-Executive - Independent DirectorNot Applicable1963-07-09falseActiveNA2021-11-242024-11-23361110Tenure CompletionMrKRISHNAN SADAGOPAN09397902Non-Executive - Independent DirectorNot Applicable1967-05-20falseActiveNA2021-11-242024-11-23361101Tenure CompletionMrRAM NARESH SINGH07571840Non-Executive - Independent DirectorNot Applicable1957-01-31falseActiveNA2022-04-08331102 Dr. (Prof.) Ashutosh Pant (DIN 03057160) was appointed as member of CSR Committee and subsequently designated as Chairperson of Committee w.e.f. 24.06.2023 and he ceased to be a member of the Committee w.e.f. 24.11.2024. Shri Nachimuthu Senthil Kumar (DIN 10230965) became member of Risk Management Committee & Corporate Social Responsibility in the capacity of holding additional charge of Director (Planning& Business Development) w.e.f. 01.09.2024. Shri Satish Kumar Vaduguri (DIN 09322002) became member of Nomination & Remuneration Committee (NRC) w.e.f. 01.09.2024 in the capacity of holding additional charge of Chairman. Consequent to appointment of Shri A. S. Sahney as Chairman of IndianOil, the additional charge of Chairman, IndianOil entrusted to him was concluded on 12.11.2024 hence he ceased to be member of NRC. However, on 24.11.2024 he was again became member of NRC w.e.f. 24.11.2024 truetruetruetruetrueAudit Committee07571840RAM NARESH SINGHNon-Executive - Independent DirectorChairperson2024-11-24Audit Committee09322002SATISH KUMAR VADUGURIExecutive DirectorMember2024-11-24Audit Committee10230965NACHIMUTHU SENTHIL KUMARExecutive DirectorMember2024-11-24Audit Committee09398565PRASENJIT BISWASNon-Executive - Independent DirectorChairperson2021-11-242024-11-23Audit Committee02534632SUDIPTA KUMAR RAYNon-Executive - Independent DirectorMember2021-11-242024-11-23Audit Committee09400251DATTATREYA RAO SIRPURKERNon-Executive - Independent DirectorMember2022-11-062024-11-23Nomination and remuneration committee07571840RAM NARESH SINGHNon-Executive - Independent DirectorChairperson2024-11-24Nomination and remuneration committee10652030Arvinder Singh SahneyExecutive DirectorMember2024-11-13Nomination and remuneration committee10531397RASHMI GOVILExecutive DirectorMember2024-11-24Nomination and remuneration committee09322002SATISH KUMAR VADUGURIExecutive DirectorChairperson2024-09-012024-11-12Nomination and remuneration committee09400251DATTATREYA RAO SIRPURKERNon-Executive - Independent DirectorMember2021-11-242024-11-23Nomination and remuneration committee09398549DILIP GOGOI LALUNGNon-Executive - Independent DirectorMember2021-11-242024-11-23Nomination and remuneration committee02534632SUDIPTA KUMAR RAYNon-Executive - Independent DirectorMember2022-01-302024-11-23Nomination and remuneration committee09322002SATISH KUMAR VADUGURIExecutive DirectorMember2024-11-24Stakeholders Relationship Committee07571840RAM NARESH SINGHNon-Executive - Independent DirectorChairperson2024-11-24Stakeholders Relationship Committee10310088ANUJ JAINExecutive DirectorMember2023-10-09Stakeholders Relationship Committee10531397RASHMI GOVILExecutive DirectorMember2024-03-15Stakeholders Relationship Committee09397902KRISHNAN SADAGOPANNon-Executive - Independent DirectorChairperson2023-06-242024-11-23Stakeholders Relationship Committee09398549DILIP GOGOI LALUNGNon-Executive - Independent DirectorMember2021-11-242024-11-23Risk Management Committee10652030Arvinder Singh SahneyExecutive DirectorChairperson2024-11-13Risk Management Committee09322002SATISH KUMAR VADUGURIExecutive DirectorMember2021-10-28Risk Management Committee10310088ANUJ JAINExecutive DirectorMember2023-10-09Risk Management Committee09224177ARVIND KUMARExecutive DirectorMember2024-07-17Risk Management Committee10230965NACHIMUTHU SENTHIL KUMARExecutive DirectorMember2024-09-01Risk Management Committee07571840RAM NARESH SINGHNon-Executive - Independent DirectorMember2024-11-24Risk Management Committee99999999T.C.ShankarExecutive DirectorMember2022-06-232024-12-31Shri T C Shankar, Chief Risk Officer, member of RMC but not a Director on the Board of the Company. Hence DIN not applicable to him.Risk Management Committee03057160ASHUTOSH PANTNon-Executive - Independent DirectorMember2021-11-242024-11-23Corporate Social Responsibility Committee07571840RAM NARESH SINGHNon-Executive - Independent DirectorChairperson2024-11-24Corporate Social Responsibility Committee09322002SATISH KUMAR VADUGURIExecutive DirectorMember2021-10-28Corporate Social Responsibility Committee10310088ANUJ JAINExecutive DirectorMember2023-10-09Corporate Social Responsibility Committee10531397RASHMI GOVILExecutive DirectorMember2024-03-15Corporate Social Responsibility Committee10230965NACHIMUTHU SENTHIL KUMARExecutive DirectorMember2024-09-01Corporate Social Responsibility Committee03057160ASHUTOSH PANTNon-Executive - Independent DirectorChairperson2022-04-192024-11-23Corporate Social Responsibility Committee09398565PRASENJIT BISWASNon-Executive - Independent DirectorMember2023-06-242024-11-232024-07-30true161672024-08-3030true161672024-09-3030true141472024-10-2827true141472024-11-2325true151472024-12-2026true991Audit Committee2024-07-30true3330Audit Committee2024-08-3030true3330Audit Committee2024-10-2858true3330Corporate Social Responsibility Committee2024-07-09true6620Corporate Social Responsibility Committee2024-08-2950true6520Corporate Social Responsibility Committee2024-10-2657true6520Risk Management Committee2024-07-29true6611Stakeholders Relationship Committee2024-11-23116true4420falsefalsefalsetrueYestruetruetrueThe composition of Board of Directors is in terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 The strength of the Board of IndianOil was 9 Directors as on 31st December 2024, comprising of 7 Executive Directors (including Chairman) and 1 Non-Executive Government Nominee Director and 1 Woman Independent Director. IndianOil has not been able to comply with the requirement of 50% Non-Executive Directors as well as 50% Independent Directors (Chairman being executive) on its Board as IndianOil being a Government Company under the administrative control of the Ministry of Petroleum & Natural Gas, the power to appoint Directors on the Board vests with Government. The matter is being pursued regularly by IndianOil with Government of India. The composition of the following committees is in terms of SEBI (Listing Obligations and disclosure requirements) Regulations, 2015 a. Stakeholders' Relationship Committee b. Risk Management Committee As on 31.12.2024, the Board of IndianOil comprised of only 1 Independent Director. In view of non-appointment of requisite number of Independent Directors by Govt. of India, the composition of Audit Committee and Remuneration Committee was not as per SEBI(LODR) since 24th November 2024. Kamal Kumar GwalaniCompany Secretary and Compliance OfficerfalseKamal Kumar GwalaniCompany Secretary and Compliance OfficerMumbai2025-02-07263650-2Kolkata CustomsFine imposed due to late filing of Bill of Entry (BOE). 2024-11-20The Customs act prescribes a time limit for filing a Bill of Entry (BoE) after goods arrive.Rs. 5000/-Kolkata CustomsFine imposed due to late filing of Bill of Entry (BOE). 2024-12-10The Customs act prescribes a time limit for filing a Bill of Entry (BoE) after goods arrive.Rs. 15000/-Kolkata CustomsFine imposed due to late filing of Bill of Entry (BOE). 2024-12-12The Customs act prescribes a time limit for filing a Bill of Entry (BoE) after goods arrive.Rs. 5000/-Assistant Director of Factories, HaldiaFine imposed in relation to an accident of a contractual worker engaged by an agency working inside the premises of IndianOil’s Haldia Refinery on 11-05-2024.2024-12-14Assistant Director of Factories, Haldia filed the case in relation to the accident before the Court of Ld. Addl. Chief Judicial Magistrate, Haldia against the Executive Director & Refinery Head, the Occupier of factory and General Manager (HR) & Manager of the Factory. The matter was taken up by National Lok Adalat constituted on 14-12-2024 and was settled on payment of spot fine of Rs. 10,000/-.Rs.10,000/-Commissioner Central Goods and Service Tax, Mumbai East2023-09-06Show Cause Notice (SCN) raised on Indian Oil proposing Demand of Excise duty of Rs.4002 crore on the ethanol portion contained in Ethanol Blended Motor Spirit (EBMS) sold by IndianOil during the period 01.03.2014 to 31.12.2018. The SCN was adjudicated by Commissioner, Mumbai and IndianOil got a favourable order vide Order in Original (OIO) dated 06.02.2023 and concluded the proceedings. Against the said OlO, department has filed the appeal which has been admitted by CESTAT, Mumbai vide order dated 06.09.2023 (received on 28.09.2023) and the case would be listed for merit hearing.Departmental appeal admitted by CESTAT, Mumbai. Case pending for merit hearing.Income-tax Department, Mumbai2019-03-23Various disallowances amounting to Rs. 1194.07 crore as per the Assessment Order for Assessment Year 2016-17. Appeal was pending before the Commissioner of Income-tax (Appeals).Appeal is pending before the Commissioner of Income-tax (Appeals).