Date: September 30, 2026
Board Meeting Outcomes
The Board of Directors of BF Utilities Limited met on September 30, 2026. The following matters were discussed and noted:
1. Non-Compliance with Regulation 33 (Financial Results)
- Fines imposed by BSE Limited and National Stock Exchange of India Ltd. (NSE) for non-submission of Consolidated Unaudited Financial Results for the quarter ended June 30, 2026 were placed before the Board.
- The BSE fine was communicated via a letter dated September 11, 2026.
- The NSE fine was communicated via a letter dated September 28, 2026.
- The Board noted that the non-submission occurred because the company's subsidiaries, Nandi Infrastructure Corridor Enterprise Ltd. (NICE) and Nandi Economic Corridor Enterprises Ltd. (NECE), had not submitted their Unaudited Financial Results for the quarter.
- The Board emphasized that the company will publish its Consolidated Results once they are made available by these subsidiary companies.
- The Board directed that prescribed timelines and compliances should be strictly adhered to going forward.
- The Board also noted that the company had submitted its Standalone financial results for the quarter ended June 30, 2026 on August 14, 2026.
2. Non-Compliance with Regulation 17(1) (Board Composition)
- A fine imposed by BSE and NSE for non-compliance pertaining to the composition of the Board, including a delay in appointing an Independent Director for the quarter ended June 30, 2026, was placed before the Board. The fine was communicated via letters dated August 25, 2026.
- The Board discussed the matter and noted that the company has appointed a Non-Executive – Independent Director, not liable to retire by rotation.
- The appointment is for a term of 5 (Five) consecutive years, effective from September 07, 2026, to September 06, 2031.