Regulatory28 May 2026, 08:52 pm
NLC India fined ₹11.37 Lacs by BSE & NSE for board composition non-compliance
AI Summary
NLC India Limited has been fined ₹5,68,760 each by BSE and NSE, totaling ₹11,37,520, for non-compliance with SEBI (LODR) Regulations, 2015. The non-compliance relates to the composition of its Board of Directors and various committees, including the failure to appoint a Women Director. The company has requested a waiver of these fines, citing that as a Government Company, director appointments are vested with the President of India, and the Ministry of Coal is regularly apprised of the requirements. NLC India states the non-compliance was not due to its negligence and has no impact on operations beyond the financial penalty.
Key Highlights
- NLC India fined ₹5,68,760 each by BSE and NSE for regulatory non-compliance.
- Fines relate to Board and committee composition, including lack of a Women Director.
- Total financial implication is ₹11,37,520, with no operational impact.
- Company requested waiver, citing government ownership and presidential appointment powers.
- Ministry of Coal is informed about independent director requirements.
Price Impact
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