Key Quantitative Figures
A total fine of Rs. 9,78,220/- (Rupees Nine Lakhs Seventy Eight Thousand Two Hundred and Twenty Only), inclusive of GST, has been imposed on the Company.
Parties Involved
- Authority Imposing Fine: BSE Limited
- Listed Entity: Balmer Lawrie Investments Ltd. (A Government of India Enterprise)
- Administrative Control: Ministry of Petroleum & Natural Gas
- Company Representative: Abhishek Lahoti, Company Secretary and Compliance Officer
Details of Violations/Contraventions
The fines were imposed for non-compliance with the following SEBI Listing Regulations during the quarter ended 30th June, 2026:
- Regulation 17(1): Board comprised of less than 6 (Six) Directors
- Regulation 17(2A): Quorum of Board Meetings not complied with
- Regulation 18(1): Composition of Audit Committee not compliant
- Regulation 19(1)/19(2): Composition of Nomination and Remuneration Committee not compliant
Specific governance deficiencies included:
- Lack of Independent Director(s)
- Lack of Woman Director
Financial and Operational Impact
No immediate financial or operational impact is expected. A contingent liability of Rs. 9,78,220/- may be created against the imposition of these fines.
Rationale and Representation
The company is a Central Public Sector Enterprise under the Ministry of Petroleum & Natural Gas. Article 96B(1) of the Articles of Association states that the President of India is entitled to appoint directors, including Independent Director(s)/Woman Director/Government Nominee Directors, while the company remains a Government Company.
The composition of the Board of Directors is dependent upon the direction of the Administrative Ministry. The non-compliances are stated to be for factors beyond the control of the Company.
The Company has made representation to BSE Limited for waiver of the said fines.