BF Utilities Board Addresses Non-Compliance Fines

BF Utilities Ltd's Board of Directors met on September 30, 2026, to discuss fines imposed by BSE and NSE for non-compliance with SEBI Listing Regulations. The primary issue was the non-submission of consolidated unaudited financial results for the quarter ended June 30, 2026, due to subsidiaries Nandi Infrastructure Corridor Enterprise Ltd. (NICE) and Nandi Economic Corridor Enterprises Ltd. (NECE) failing to submit their results. The Board noted that consolidated results will be published once received from subsidiaries and emphasized strict adherence to future timelines. Separately, the Board addressed a fine related to the composition of the Board, specifically the delay in appointing an Independent Director. A Non-Executive – Independent Director has been appointed for a five-year term from September 07, 2026, to September 06, 2031. The total fine for the Regulation 17(1) non-compliance was ₹182,900 (inclusive of GST). The company was urged to ensure compliance and remit fines within 15 days.