Date: November 5, 2026

Board Meeting Outcomes

The Board of Directors of Bharat Forge Limited held a meeting on November 5, 2026. The key outcomes were:

  • The Board was apprised of a delay in filing voting results in XBRL format under Regulation 44 of the SEBI LODR Regulations, 2015.
  • The Board noted that the Scrutinizer's Report and voting results in PDF format for the Postal Ballot concluded on September 11, 2026 were submitted to the stock exchanges on time.
  • The delay was limited to the XBRL filing and was attributed to a technical issue.
  • The Board noted that the company had submitted a waiver application to the stock exchanges (BSE and NSE) on October 30, 2026, seeking a waiver of the fine imposed.
  • The Board endorsed the grounds and justification set out in the waiver application.

Regulatory Fine Details

The National Stock Exchange of India Limited (NSE) issued a notice (Ref: NSE/LIST-SOP/FINES/1154) to the company on October 14, 2026. The details of the fine are:

  • Regulation Violated: Regulation 44(3) of SEBI LODR
  • Period of Non-compliance: Month ended September 30, 2026
  • Fine per instance: ₹10,000
  • Number of instances: 1
  • Base Fine Amount: ₹10,000
  • GST @18%: ₹1,800
  • Total Fine Payable (Inclusive of GST): ₹11,800

Waiver Application Process

The NSE notice outlined the procedure for applying for a waiver of the fine:

  • Compliance is a pre-requisite for applying for a waiver.
  • Waiver applications must be submitted via the NEAPS portal path: NEAPS>>Compliance>>Fine Waiver>>Waiver Request.
  • A detailed submission indicating reasons for the waiver must be provided.
  • A non-refundable processing fee of ₹10,000 plus 18% GST is required if the fine amount is more than ₹5,000 (exclusive of GST).
  • The company must inform the promoters about the identified non-compliance.

Other Operational / Legal / Strategic Disclosures

The company completed the requisite XBRL filing upon identification of the technical issue.

The company is required to ensure that this non-compliance and subsequent action are placed before the Board, and the Board's comments must be informed to the Exchange via the NEAPS portal path: NEAPS > COMPLIANCE > Announcements > Announcements/CA, with the announcement text as 'Board comments on fine levied by the Exchange'.