Key Quantitative Figures
The company was levied a fine of ₹1,71,100 (inclusive of GST) each by the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE). The total fine paid by the company was ₹3,42,200 (₹1,71,100 each, subject to TDS).
Dates of Action
The company received the email communication from NSE and BSE regarding the non-compliance on June 30, 2026. The due date for payment of the fine was July 15, 2026. The company made the payment on July 1, 2026.
Parties Involved
The action was initiated by National Stock Exchange of India Limited (NSE) and BSE Limited (BSE). The non-compliance was attributed to the company's subsidiaries: Nandi Infrastructure Corridor Enterprise Ltd. (NICE), Nandi Economic Corridor Enterprises Ltd. (NECE), and Nandi Highway Developers Limited (NHDL), which failed to submit their Audited Financial Results for the quarter and year ended March 31, 2026 to the parent company.
Reason for Non-Compliance & Rationale
The non-compliance with Regulation 33 of the Listing Regulations occurred due to the delay in the submission of the Consolidated Financial Results for Q4 FY26. This delay was a direct result of the subsidiaries not providing their audited financials to BF Utilities. The company had previously intimated the stock exchanges about this anticipated delay via a letter dated May 28, 2026.
Financial or Operational Impact
The company explicitly states: "There is no material impact on financials, operations or other activities of the Company."
Details of Payment
The company paid the fine of ₹1,71,100 each (subject to TDS) to both NSE and BSE on July 1, 2026. There was no delay or default in the payment of the fine.