Key Quantitative Figures
- Fine amount: ₹6,96,200 (inclusive of GST) imposed by each exchange (BSE and NSE)
- Period: Quarter ended 31st March, 2026
Parties Involved
- Bharat Dynamics Limited (issuer)
- BSE Limited (stock exchange)
- National Stock Exchange of India Limited (stock exchange)
- Ministry of Defence, Government of India (appointing authority)
Reason for Non-Compliance
Non-compliance with board composition requirements under Regulations 17(1), 18, and 19 of SEBI LODR due to appointment authority resting with the President of India acting through Ministry of Defence. The Board of BDL has no role in director appointments.
Company Response
BDL will seek waiver of the levied fines from both BSE and NSE on account of impossibility of compliance as per policy for exemption of fines.
Ongoing Compliance Status
BDL will continue to be non-compliant with Regulation 17(1), 18, and 19 of SEBI LODR until the requisite number of Independent Directors are appointed by the Government.
Financial and Operational Impact
The fine levied by NSE and BSE has no impact on the financial, operation or other activities of the Company.