Tax & Penalty27 May 2026, 10:22 pm
Balmer Lawrie Fined ₹7.5 Lakh by BSE for Listing Regulation Violations
AI Summary
Balmer Lawrie & Company Ltd. has been fined ₹7,50,480 (inclusive of GST) by BSE Limited for non-compliance with Regulations 17(1), 18(1), 19(1)/19(2), 20(2)/(2A), and 21(2) of the Listing Regulations for the quarter ended March 31, 2026. The violations relate to the composition of the Board of Directors and its committees, specifically the lack of independent, woman, and non-executive directors during certain periods. The company has represented to BSE Limited for a waiver of the fine, citing factors beyond its control due to its status as a Central Public Sector Enterprise.
Key Highlights
- BSE Limited imposed a fine of ₹7,50,480 on Balmer Lawrie for listing regulation non-compliance.
- The violations occurred during the quarter ended March 31, 2026.
- Non-compliance relates to the composition of the Board and its committees.
- Balmer Lawrie cites dependence on the Ministry of Petroleum & Natural Gas for director appointments.
- The company has requested a waiver of the fine from BSE Limited.