Key Quantitative Figures & Financial Impact

BSE has imposed a total fine of ₹7,64,640/- (inclusive of GST) for the quarter ended 31st March 2026. The fine is broken down into specific components:

  • ₹4,24,800 for non-compliance with Regulation 17(1) (Board composition, including failure to appoint a woman director). The basic fine was ₹3,60,000 with GST of ₹64,800.
  • ₹1,69,920 for non-compliance with Regulation 18(1) (constitution of audit committee). The basic fine was ₹1,44,000 with GST of ₹25,920.
  • ₹1,69,920 for non-compliance with Regulation 19(1)/19(2) (constitution of nomination and remuneration committee). The basic fine was ₹1,44,000 with GST of ₹25,920.

The financial implication is explicitly quantified at ₹7,64,640.

Dates of Action

  • Date of BSE Notice/Order: 27.05.2026
  • Date of Receipt by Company: 27.05.2026
  • Board Meeting Date: 30th May 2026 (where the matter was discussed)
  • Fine Payment Deadline: Within 15 days from 27.05.2026 (i.e., by approximately 11.06.2026)

Parties Involved

  • Regulatory Authority: Bombay Stock Exchange (BSE)
  • Listed Entity: Bharat Coking Coal Limited (BCCL)
  • Parent Company: Coal India Limited (mentioned as BCCL's parent)
  • Administrative Authority: Ministry of Coal, Government of India
  • Company Officials: Debanuj Debnath, Company Secretary & Compliance Officer

Purpose & Rationale

The disclosure is a mandatory submission to the stock exchanges (BSE and NSE) informing them of the regulatory action taken by BSE. BCCL provides a rationale for the non-compliance, stating that the appointment of Independent Directors in Central Public Sector Enterprises (CPSEs) is carried out by the Government of India with the approval of the President of India, a matter beyond the direct control of the company's management.

Potential Consequences of Non-Payment

BSE's notice explicitly states that failure to pay the fine within 15 days will lead to the initiation of action for freezing the entire shareholding of the promoter in the entity and all other securities held in the promoter's demat account. Furthermore, if this is the second consecutive quarter of non-compliance for Regulations 17(1), 18(1), and 27(2), the company would be transferred to the Z group and be liable for suspension of trading of its equity shares.

Company's Response & Actions Taken

  • The matter was placed before the Board of Directors of BCCL in its meeting held on 30th May 2026.
  • The Board resolved to make a submission to BSE requesting a waiver of the imposed fines, citing the reasons for non-compliance.
  • The Board also resolved to take up the matter with the Ministry of Coal (MoC) for the appointment of Independent Directors, including a Woman Independent Director, to ensure future compliance with the Companies Act, 2013, and SEBI LODR Regulations.
  • The company states it has been continuously pursuing the matter with the Administrative Ministry and had obtained specific exemptions from SEBI compliance prior to its listing.

Remittance Instructions

BSE provided instructions for paying the fine to a dedicated virtual bank account:

  • Bank Name: ICICI Bank Ltd. - CMS Branch
  • Account Name: BSE Limited
  • Virtual Account No.: BSER14031
  • IFSC Code: ICIC0000104

Companies must submit remittance details (Scrip Code, Regulation & Quarter, UTR Number, Payment Date, Amount Paid, TDS, Net Amount) via email to bse.soplodr@bseindia.com.