NALCO Seeks Waiver for ₹14.13 Lakh Fine on Compliance Lapses
National Aluminium Company Ltd (NALCO) has submitted a waiver application to BSE and NSE requesting condonation of non-compliance with SEBI (LODR) Regulations, 2015, for the quarter ended June 30, 2026. The company was fined ₹14,13,340 (including GST) by both exchanges for these lapses. NALCO, being a Central Public Sector Enterprise (CPSE), stated that the appointment of Directors is vested with the President of India and thus beyond the company's control. The Board of Directors, in its 371st meeting, acknowledged the fines and advised informing the exchanges of NALCO's status and the government's role in director appointments, requesting waiver of the penalties. The company is continuously pursuing the matter with the Ministry of Mines for timely appointments.
Key Highlights
- NALCO fined ₹14.13 Lakhs by BSE and NSE for SEBI LODR non-compliance.
- Company cites government control over director appointments as reason.
- Board supports seeking waiver and condonation of penalties.
- Appointment of Independent Directors is beyond NALCO's direct control.
Price Impact
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