BF Utilities Limited
Regulatory Actions and Correspondence
- BSE Limited imposed a fine for non-compliance vide letter dated June 30, 2026
- BSE Limited issued a reminder before freezing of Promoters Holdings vide letter dated July 16, 2026
- National Securities Depository Limited (NSDL) sent correspondence regarding freezing of Promoter's demat account for non-compliance, received on July 27, 2026
Board Meeting and Deliberations
The Board of Directors discussed these matters in their meeting held on August 14, 2026. The Board:
- Discussed and took note of the non-compliance matter
- Noted the correspondence regarding freezing of Promoter's demat account
- Conducted due analysis and deliberation on the issue
Root Cause of Non-Compliance
The non-submission occurred because the company's subsidiaries, Nandi Infrastructure Corridor Enterprise Ltd. (NICE) and Nandi Economic Corridor Enterprises Ltd. (NECE), have not submitted their Audited Financial Results for the year ended March 31, 2026.
Company's Position and Future Compliance
The company will publish Consolidated Results once the subsidiary companies make their results available. The Board emphasized that going forward, prescribed timelines and compliances should be strictly adhered to.
Current Compliance Status
The company has submitted:
- Standalone financial results for the year ended March 31, 2026 on May 28, 2026
- Standalone financial results for the quarter ended June 30, 2026 on August 14, 2026